The magazine industry is in a state of rapid decline. There were many reasons for this, but the most sign one was that people were turning to the internet for their information and entertainment needs. The internet offered more convenience, and people could get their news and entertainment on any device they wanted. A magazine is a publication, usually a periodical publication, with a regular publication schedule. Magazines normally publish content that is in excess of just news/information and contain articles that cover a wide range of topics such as fashion, arts, politics, business, sports and so on.
Magazine industry statistics:
- In 2008, there were 1,600 magazines in circulation with a total of $21 billion in revenue.
- In 2017, there were only 1,100 magazines in circulation with a total of $5 billion in revenue.
- From 2008 to 2017, there was a decrease of 43% in circulation and an 85% decrease in revenue.
- The market size of the Magazine & Periodical Publishing industry in the US has declined 5.4% per year on average between 2017 and 2022.
Magazines are in crisis. With the rise of digital media, the print industry has been losing its market share quickly. As more and more people read articles online, magazines have found it harder to maintain profits. The major problem with this is that magazines are not able to effectively monetize their digital content which means they will continue to lose readership and eventually go out of business. The bottom line is that the magazine industry has been in decline for years. It's not surprising that the death of the magazine is on the horizon.
The internet has taken over and it is no longer necessary to have a physical product to distribute content. The death of the magazine will not be a loss for society, but instead a chance for brands to explore new avenues and strategies.
Brands should care about this because it means that they will need to find new ways of attracting customers and staying relevant in today's fast-paced world.
In the digital era, marketers and publishers have to be agile and adaptive. In order to get ahead of their competition, they have to anticipate new trends and technologies.
Marketers need to learn how to use content marketing in a way that's both authentic and compelling. Publishers need a strategy for staying relevant in a world where people consume content on their own schedule. Walk in to an office that has a waiting area. Although you may still see magazines spread out over tables, a quick scan of the room will undoubtedly tell you all you need to know. Almost everyone is consuming content via their cellphone.
Consumers today are using their mobile devices for a variety of activities. They use them to make purchases, do online banking, and even for making travel arrangements.
Mobile devices have become a part of people's daily lives. And this is not surprising, as they offer a lot of convenience and flexibility. They allow people to complete tasks from anywhere at any time, without the need to go through all the hassle of carrying around laptops or tablets. So just from a practical standpoint, it's just natural to consume content from the device that is already with you, portable and has the compacity to house more content then you could ever actually carry.
As a content creator it is imperative that THREADS the Magazine adapt to how our consumers consume content In this article, we have already discussed how the advent of new technologies has changed the way consumers behave. We have seen how they are using new technologies to interact with brands digitally and how this has impacted the way marketers need to adapt their approach to marketing.
The conclusion is that THREADS the Magazine needs to adapt to consumer behavior by adopting a digital-first mindset. This means that we need to create content that is relevant for our target audience on digital channels, including social media channels, blogs, newsletters, etc. For this reason I'm proud to announce that THREADS the Magazine will no longer be available in a magazine style format. Behind the scenes we are working tirelessly to convert to a digital first approach for our consumers. So with this announcement THREADS January edition will be our final monthly edition and our website, social media platforms, and blogs will be the focus of our attention going forward.