III. Industry Analysis
[Company Name] competes against small regional magazines and major national publications. The market size of global magazine publishing industry is $70 billion. The global magazine publishing market is anticipated to encounter stagnation in developed regions and rapid growth in developing economies. Mobile technology is one of the most crucial developments ensuring favorable reader behavior and adoption. Besides novelties in digital printing, penetration of highly agile ads with extensive interactive value are poised to further expedite rapid adoption, thereby influencing favorable growth in magazine publishing.
The global digital magazine publishing market is expected to reach $4.6 billion over the next five years and grow at a CAGR of 5.3%. The global digital magazine publishing market will be driven by factors such as changing reading habits and new media consumption patterns, increase in focus on customer experience through content curation and personalization features offered by publishers, the rapid development of mobile internet access across developing economies coupled with high adoption of digital media and increasing disposable income. The North American region is expected to be the largest market for Digital Magazine Publishing during the forecast period.
The US magazine publishing industry includes about 4,000 establishments with combined annual revenue of about $22 billion. The digital magazine publishing revenue in the US will continue to grow and is expected to reach $1.8 billion in the next five years. Although printed magazines remain the more favorable option for most US consumers, some of the leading magazines in the US also enjoy tens of millions of unique mobile visitors per month.