The UK magazine industry has been suffering over the past decade, with a fall from 1.7 billion magazines being in circulation in 2006 to 455.1 million in 2020, a reduction of over 73.2%. This fall has been reduced in 2021, possibly as a result of the recovery from COVID. However, it is concerning to see that the numbers are falling so drastically even in years where there was no pandemic. This may be due to the shift to online magazines taking over, as they are alot easier to access instead of purchasing a physical copy from a supermarket or newsagent. This move to a more digital magazine reading experience is beneficial for the magazine companies as it means they are able to reach a larger audience, as it is shown through the statistic that magazine publishing is expected to continue to grow from 0.5 to 1% per year until 2026, as found on a report on pulsegroupmedia. For example, some magazines have created mobile apps in order to boost convenience and make it even easier to access the magazines.
According to the magnetic media website, 76% of adults access some form of magazine media every month, which is a very large amount. This tells me that magazine media is still very popular, despite the circulation falling drastically in a short amount of time. Also, this highlights the rise of digital media in society and how the physical newspaper/magazine popularity is falling as there is no need to purchase a physical copy anymore, it can all be purchased from a mobile device. Furthermore, as of January 2020, Bauer Media Group own 27.7% of the magazine industry which means that they have overall control over the market, which is more ownership than any other company within that industry. As a result of this ownership, they are able to ensure that they are catering for the needs of all customers, which means that they are maximising their ability to reach people and gain a larger audience. This ensures that they are able to grow and expand their audience to even more people
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