The increasing preference for digital platforms among consumers, rising smartphone users and the rapid penetration of low-cost internet in different countries is driving the global digital newspaper & magazine market.
According to TechSci Research report, “Newspaper & Magazine Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The global newspaper & magazine market is witnessing high demand owing to the rise in increasing preference for digital platforms and surging internet penetration. Moreover, the rise in number of smartphone users is driving the digital newspaper and magazine market.
The market expansion is being fueled by factors such as rising internet penetration rate, increasing smartphone user base globally and traditional print media sector transitioning to digital media forms. Furthermore, a lockdown situation that was experienced during the COVID-19 pandemic had a major influence on the shift in people preference toward reading newspapers and magazines through digital platforms across the world, which is expected to boost market growth.
The need for newspapers and magazines, particularly in digital format, is expected to increase as social media is increasingly used for communication and information exchange. Social media platforms are being used by people to exchange information.
Digital platforms continually generate income from market-available digital readers. The capabilities of newspaper organizations are growing across a variety of platforms, including mobile, advertising technology, video, digital audio/podcasts, and data analytics/data mining. Publishers and readers are being connected by means of digital platforms. Newspapers in all media and entertainment fields are having trouble competing with the amount of free content available online and from other sources as a result of digital content.
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The global digital newspaper & magazine market is predicted to be dominated by the e-Newspapers segment. People’s rising online newspaper subscription rates are anticipated to fuel market expansion during the anticipated period. Additionally, during the forecast period, diverse business strategies, strategic alliances, and digital publishing are anticipated to fuel market expansion. The publisher is also concentrating on building its own data and analytics skills, which might promote market expansion.
The global digital newspaper & magazine market is segmented on the basis of type into e-Newspapers, e-Magazines, digital newspaper advertising, and digital magazine advertising. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
The global market for digital newspapers and magazines was led by North America. The market is growing rapidly in this region owing to the increasing penetration of smartphone users in the United States and Canada.
Many organizations’ growing global investments in technology advancement and virtual reality platforms have forecast market expansion in the ensuing years. Furthermore, during the projection period, the growth is being supported by the region’s growing use of paid subscriptions to digital newspapers and magazines. The newspaper and magazine advertising is rising in popularity in the advertising industry as it increases consumer brand recognition, which fuels market expansion.
Key market players in the global digital newspaper & magazine market include:
- News Corporation
- The New York Times Company
- Nine Entertainment Co. Pty Limited
- Johnston Press Ltd
- Zinio LLC
- Schibsted ASA
- Magzter Inc.
- Readly AB
- Nine Entertainment Co. Holdings Ltd
- Daily Mail and General Trust plc
Owing to the rising infrastructure of dependable communication network, it is estimated that demand for digital newspapers and magazines would increase significantly during the projected time. Consequently, regional service providers are focusing on strategies such as partnering with technology providers or acquiring rival companies in order to get a competitive edge, increase their geographic presence, and maintain their market positions. For instance, for an all-cash purchase price of USD 550 million, The New York Times Company acquired The Athletic, a global digital subscription-based sports media company that offers local and national coverage of more than 200 clubs and teams in the United States and throughout the world.
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“The increasing preference for digital platforms among consumers such as social media, online payment services, and e-reading is attracting a lot of customer base. Moreover, the increasing penetration of internet with rising number of smartphone and tablet users and the growing demand for instant news delivery to the consumer’s handsets is driving the demand of global digital newspaper & magazine market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Digital Newspaper & Magazine Market -Segmented By Type (e-Newspapers, e-Magazines, Digital Newspaper Advertising, Digital Magazine Advertising), By Region, Competition, Forecast & Opportunities, 2018-2028F” has evaluated the future growth potential of digital newspaper & magazine market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in digital newspaper & magazine globally.
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