Magazine Advertising Market– Statistics And Analysis & Forecast To 2028Posted by Mrudula Karmarkar on December 16th, 2022 The global magazine advertising market size is expected to reach USD 8.3 billion by 2028, registering a CAGR of -4.5% from 2022 to 2028, according to a new report by Grand View Research, Inc. The rising rapid digitalization in developing economies has experienced a large drop in magazine advertising in the last few years and is expected to drop over the forecast period. The growing acceptance of print advertising amongst the numerous industries in the last couple of years to provide information about their business and products is likely to accelerate the market development. Moreover, the increasing effectiveness of magazine advertising in emerging nations owing to a large number of users around the world is driving the market growth. Magazine advertising is quickly gaining popularity due to having more engagement of clients and creating brand awareness which in turn is quickening the market development. Furthermore, a lockdown condition has been witnessed during the COVID 19 pandemic, and it showed an adverse impact on the magazine advertising market owing to many advertisers’ reduced marketing budgets or paused advertising expenditure during this period. Moreover, the growing expenditure on print advertising after the comfort of several limits is likely to increase the market development over the forecast period. Leading global sellers can assist purchasers in understanding high-cost savings through their efforts on ranges such as forward integration, dropping total ownership price, managing advertisement hoc spending, negotiating on cost and contractual terms, quality management, level of automation, and decrease in ad-hoc expenditure. Partnerships with global suppliers will also help buyers in saving cost and ensure superior procurement in the dynamic market. The FMCG segment is expected to grow with a higher CAGR of -3.0% from 2022 to 2028. The increasing acceptance of smartphones, as well as the rising internet penetration rate all over the globe, is driving the digital magazine advertising market. Moreover, the growing spending on print advertising by many FMCG companies in the last few years to bring awareness about the product and to create trust and credibility with clients worldwide are likely to boost the market development over the forecast period. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/magazine-advertising-market-report/request/rs1 Magazines have been regularly losing clients for years. However, growing subscriptions to digital magazines are hampering market development over the forecast period. Moreover, rising customers' inclination toward economical or more affordable alternatives such as online publications over the last couple of years is impeding the market growth. Furthermore, magazine circulation drops in recent years all over the globe is the vital factor that restrains the growth of the market. The rising investment in print advertising by industry verticals such as Automobile, FMCG, and many others to create trust as well as nurture relations with existing customers is driving the market growth. Magazine Advertising Market Report Highlights
Magazine advertising is the advertisements that the public see placed all over publications. The benefits of magazine advertising are their selectivity, exceptional reproduction superiority, creative flexibility, reputation, high participation of readers as well as services they provide to advertisers. The main benefit of magazines as a medium is the selectivity or their capability to reach a particular target audience. Magazine advertising has problems such as high prices of advertising, their restricted reach, and frequency, lengthy lead time for placing the advertisements, and the problem of growing heavy advertising rivalry and clutter. Magazine advertising is one of the best powerful marketing mediums available, and an advertisement placed in a magazine can progress sales massively. As per Magazine Advertising price trends, large anti-dumping duties enforced by the governments in nations such as China, Germany, the US, France, and India will increase the price of exported magazine advertising. The continuous rise in crude oil cost will increase the cost of raw materials such as optical fiber, steel, PE, PVC, and aluminum. This will drive magazine advertising suppliers' production costs. Magazine advertising is getting popularity in the advertising world as it generates brand awareness as well as praises the brand’s advertising operations on other platforms, which is estimated to drive the growth of the magazine advertising market. Though, the increasing penetration rate of smartphones along with affordable internet is quickening an online media platform which in turn has restrictions to the market growth. Moreover, stringent government regulations about magazine advertising will remain to hamper the market growth. List of Key Players in Magazine Advertising Market
Like it? Share it! More by this author |