The reign of the consumer magazine—glossy, beautiful, and once a ubiquitous presence atop living room coffee tables around the world—seems to be quietly crumbling.
Print books are making something of a comeback right now, thanks in part to the rise of coloring books and a swelling public interest in children’s literature. Newspapers, catering to hyper-local communities,are faring pretty well, too. In fact, according to a new report from global consulting firm McKinsey, every category of media—from cinema to educational publishing to video games—should see an increase in consumer spending in the next few years.
Every category, that is, except magazines.
. . . .
Global spending on media as a whole will rise 5% every year for the next five years, McKinsey predicts. But the market for both print newspapers and magazines is likely to wane, as interest in digital media takes over. While such a decline will not necessarily be industry-ending—”We believe that many of the people likely to abandon print newspapers and print consumer magazines have already done so,” McKinsey says—it will still have a real effect, leaving publishers scrambling for sustainable profits and new revenue channels.
Link to the rest at Quartz