Print dominant revenue magazines

This data has been met with optimism by Peter Houston, a seasoned journalist and editor with extensive experience in the publishing industry, who recently prepared a presentation on the importance of print for magazine publishers.

Houston’s passion for print is palpable as he discusses its enduring relevance in a digital-first world. "The idea that print accounts for three-quarters of consumer magazine revenue globally blew my mind," he states. This statistic challenges the long-held narrative that print is dying. While acknowledging that the numbers may not reflect every niche market accurately, he insists that they indicate a significant portion of revenue still comes from print.

In his presentation, Houston highlights that over 50% of FIPP members report deriving at least half of their revenue from print (FIPP, Future of print report). This statistic suggests that a substantial portion of the industry remains reliant on print, even as digital formats gain traction. "If we’re all digital, then why is money still coming to print?" he asks rhetorically. This sentiment resonates with many in the industry who are witnessing a shift in how print is perceived—not as a relic but as a valuable component of a diversified media strategy.

Dependence on print

Houston also points out the dependence of FIPP members on print revenues. A survey of FIPP members who currently have print products in their portfolios shows that the average print revenue dependence is still very significant (35% per cent report over 75 per cent revenues from print and 8 per cent report less than 10 per cent of revenues) showing a  spread across a wide range. 

Houston’s optimism is further supported by data indicating that newspapers and consumer magazines are still heavily reliant on print revenues with projections showing only slight declines by 2026. While magazine revenues are predicted to decline at a rate similar to newspapers—approximately 2.1% CAGR—the decline in print revenues is slowing down as digital growth also stabilises.

Linked to this, 81% of publishers agree that "Our end users/readers still want print products," and 77% agree that "Print products have a lasting place in our product portfolio." 

All publishers are optimising their print production and distribution processes. This includes reducing print runs through improved audience targeting and eliminating waste at every step in the supply chain. There is also a shift out of retail newsstand supply into more efficient direct-to-consumer delivery based on subscription and membership activities. Yet despite higher levels of waste associated with retail, it remains a major route to market.

Consumer preferences for print remain strong in the UK market, with distinct trends observed for newspapers and magazines. Recent surveys indicate that a significant percentage of consumers across various age groups still prefer reading printed newspapers and magazines over digital formats.

This data underscores that while younger audiences may gravitate towards digital platforms, there remains a substantial appreciation for the tactile experience offered by printed materials.

Changing revenue models

The traditional business model for magazines has evolved significantly. Houston points out that magazines are no longer solely dependent on advertising revenue; instead, they are increasingly embracing subscription models and direct-to-consumer sales. "For a magazine to survive, it needs multiple revenue streams," he asserts, echoing sentiments from industry leaders who advocate for a more holistic approach to monetisation.

The shift towards viewing print as a premium product is also noteworthy. As Houston explains, "People are willing to pay more for high-quality print because they receive something unique and tangible." This premium positioning allows publishers to charge higher prices while delivering less frequent but more curated content. The success of independent publications that focus on quality over quantity exemplifies this trend

The role of digital in discovery

Despite his enthusiasm for print, Houston acknowledges the necessity of digital tools in promoting and selling print products. He emphasises that publishers must enhance their digital presence to drive discovery and sales. "Independent print can probably only survive through digital e-commerce or social media for discovery," he explains. This dual approach—leveraging both digital platforms and high-quality print—creates opportunities for growth and engagement.

Houston also highlights an interesting phenomenon among younger generations like Gen Z and Gen Alpha. He observes a growing disillusionment with screens and digital content, noting that these audiences are increasingly valuing the tactile experience of reading from paper. "I see those generations recognising how much better the print experience is for reading and retaining information," he remarks. This shift could signal a resurgence in interest for printed materials among younger consumers who seek alternatives to the overwhelming digital noise.

Distribution challenges

While there are positive indicators for the future of print, challenges remain—most notably in distribution. Houston points out that many consumers struggle to find their preferred magazines in physical stores due to dwindling shelf space and fewer (retail) outlets carrying diverse titles. "The irony is that publishers need to do digital better for discovery," he states, advocating for improved online marketing strategies to reach potential readers.

Moreover, he stresses the importance of building direct relationships with consumers through email newsletters and social media platforms. By fostering these connections, publishers can drive traffic to their websites and encourage sales of both subscriptions and single issues.

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