According to the FIPP World Magazine Trends 2014-15 report, total magazine revenue will resume growth in 2015.
Although there was still a decline in 2013 (-0.7 per cent compared to 2012), in 2015, the magazine publishing industry will reverse years of decline to record 0.2 per cent year-on-year growth as overall digital gains outweigh falling print revenue. In 2016, total magazine revenue will reach US$97.3bn, up from $97.1bn in 2013.
The executive summary from the annual Trends report, now in its 20th year shows that digital magazine circulation revenue will see the fastest growth. Global digital magazine circulation revenue will rise at 43.4 per cent year-on-year reaching $5.2bn in 2016. As companies see more success in turning digital magazine consumption from free-of-charge websites to paid-for digital editions, digital will move from accounting for four per cent of total consumer magazine circulation revenue in 2013 to 11 per cent in 2016.
The report is compiled by FIPP and contributions from industry experts include ZenithOptimedia, PwC and regional and local associations, publishers and agencies. It also includes the FIPP monitor of cross-border launches. Data and analyses are reported country-by-country, regionally and globally.
Currently advertising is centred on magazine websites, but, as digital circulations increase, electronic editions will become increasingly popular for advertisers. In 2013 total digital advertising accounted for $8.4bn, 17 per cent of total advertising revenue. Global digital magazine advertising revenue will be $13.4bn in 2016, which means more than a quarter of total advertising revenue (27 per cent).
Emerging economies such as China, India, Russia and South Africa will see the fastest growth in B2B magazines. As businesses in all types of economies look to grow and increase market share, both advertisers and readers will find their way towards B2B magazines and therefore increase total revenue.