For emerging markets, especially China, trade magazines look to be hot properties in the next few years.
“Markets such as China, India, Russia and South Africa will see the fastest growth in total trade magazine revenue as local businesses look to the global markets to inform their strategies,” notes PWC’s Global Entertainment and Media Outlook Summary.
For consumer magazines, the emerging middle class in countries like Brazil, Russia and South Africa mean more discretionary spending and a resulting uptick in magazine sales.
Worldwide, total magazine revenue is expected to resume growing this year, and is likely to hit $98.1 billion by 2018, the site notes, much of that coming from digital circulation as publishing sites move to a pay-to-read model.
Canada, meanwhile, is classified by the report as a lower growth market, along with Australia and Japan.
Digital publishing is expected to increase, along with digital ad revenues, even with the current lackluster performance of digital magazine advertising.
“Currently advertising is centred on magazine websites, but, as digital circulations increase, electronic editions will become increasingly popular for advertisers,” according to PWC. They believe this will be boosted by increased popularity of all-you-can-read subscriptions services for the magazine industry, although this idea has yet to gain much traction.
Digital circulation is expected to help bolster print circulation numbers, although probably not enough to close the gap. As the magazine industry comes to terms with the shifting preference for niche, specialty and regional magazines over mass market big names, print circulation numbers reflect this.
While the PWC gives us a broad stroke, there is plenty of room for publishers to move their own needles. Overall, the magazine industry can look forward to growth and innovations in the next few years.