Magazine industries have been upended by factors including the move to online. Magazines have had a sharp fall in print advertising revenue, whereas digital advertising spending has been monopolised by online platforms such as Google and Facebook. This is evident in 2000 when the circulation of magazines in the UK was at around 1.6 million and last year fell to 565 million.
It is argued that print newspapers are still significant but in long term decline, and digital editions and subscriptions for the most part are not making up for the drop in sales. It was reported to the ABC in 2000 that there were 700 consumer titles reported, however that fell to 241 last year. Roger Lynch told the New York Times that the business was 'no longer a magazine company' as its audiences interact via the website and social media rather than its magazines. Arguably verticals have been hit hard by competition from visual platforms such as Instagram, according to McCabe, verticals where consumers can easily substitute the content once found in a magazine with a newer online source are the hardest hit. "Instagram does a very good magazine job for a lot of consumers. It satisfies their level of interest in fashion or food or design. That's been the real challenge. The men's category completely collapsed for that reason. The women’s collapse is a little bit more recent."
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