Magazine Industry Overview

In the UK there is a huge variety of magazines on offer with over 8000 titles available. ‘The Fly’ is the magazine with the highest circulation in the UK. The current revenue of the industry is 7 billion but that is expected to drop between 2012/13 by 4.7% yearly. Around 40,000 people are employed in the magazine industry so it is a very beneficial industry for the UK. The magazine industry, like many other industries is predominantly owned by large companies. Some of the companies owning vast amounts of the industry are: Bauer - 26% IPC - 20% BBC - 8% Hearst - 7% Big names like Bauer find it much easier to survive in the magazine industry because they also get financial support from the other sectors of their business. Furthermore large companies will have more contacts to rely on where as small magazine titles will have very few resources to depend on which is why most small magazines will be bought by companies like Bauer or IPC in order for them to survive and grow. Technology as it stands is developing at an extremely fast rate. With the release of items such as the ipad and smartphones its becoming so much easier to access media and news online so there is a much lower demand for magazines.UK