Digital Newspapers & Magazines Industry Overview
The global digital newspapers & magazines market size was valued at USD 34.24 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2028.
The increasing popularity of digital media such as digital publishing across the globe and rising consumers' inclination towards affordable substitute media like online newspapers and magazines are driving the market growth.
Furthermore, the growing subscriptions of digital newspapers and magazines are expected to propel market growth during the forecast period. For instance, The New York Times has reported that nearly 39 percent of subscribers have subscribed to the digital newspaper. Additionally, digital newspapers and magazine advertising is gaining popularity in the advertising world as it creates brand awareness and also compliments the brand’s advertising campaigns on other channels, which is estimated to boost market growth during the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Digital Newspapers & Magazines Market
Digital newspapers and magazines are less expensive, sustainable, and have a wider reach and delivery across the globe; thereby, their demand is accelerating globally. Nowadays, digital magazines are published by search engines, which is also propelling market growth. In addition to this, Yahoo has intimated that digital magazines will be an integral part of their sales strategy, this has resulted in increased sales of digital magazines and is estimated to continue in the upcoming years. Moreover, the increasing popularity of digital platforms and rising adoption of smart devices is projected to escalate the market growth during the forecast period. Additionally, the rising penetration rate of the internet and the increasing number of smartphone users are boosting the market growth.
Moreover, digital newspapers and magazines are increasingly capturing the attention of the media industry due to their ability to attract readers through interactive content, this may further accelerate the market growth. In addition to that, an increase in the adoption of technologies such as virtual reality (VR) and augmented reality (AR) in digital media platforms is expected to propel the market growth during the forecast period. The growing youth population in emerging countries such as India and China, due to the higher acceptability of online channels like digital media as compared to offline channels, is boosting the market growth in these regions. However, strict government rules and regulations regarding the distribution of authentic content, and piracy are the major factors restraining the market growth.
The COVID-19 pandemic has slightly affected the digital newspapers & magazines business. In response to the pandemic, governments around the world implemented several measures to try to contain the virus, such as quarantines, shutdowns, travel bans and restrictions, lockdown, and work-from-home orders. This resulted in a rise in the number of subscribers of digital newspapers and magazines. However, the pandemic and subsequent slow economy impacted several core print newspapers and magazine advertisers such as promoting community events, retail, and movies. These categories cut back on their marketing budgets, accelerating declines in advertising revenue. Furthermore, rising investment in digital newspapers & magazines in emerging economies has been projected to drive market growth during the forecast period.
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- Print Newspapers & Magazines Market – The global print newspapers & magazines market size was valued at USD 123.93 billion in 2021 and is expected to decline at a compound annual growth rate (CAGR) of -2.3% from 2022 to 2028. Newspapers and magazines have been gradually losing customers for years. However, rising consumers' inclination toward free or more affordable substitute media like online publications over the last few years is restraining the market growth.
- Virtual Reality Market – The global virtual reality market size was valued at USD 21.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030. Virtual Reality (VR) is a digitally produced experience that simulates a three-dimensional environment in the real world. The technology provides viewers with an immersive experience using VR gadgets such as gloves, headsets or glasses, and bodysuits.
Digital Newspapers & Magazines Market Segmentation
Grand View Research has segmented the digital newspapers & magazines based on type, and region:
Type Outlook (Revenue, USD Million, 2017 – 2028)
- Digital Newspaper Advertising
- Digital Magazine Advertising
Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global digital newspapers & magazines market include
- News Corporation
- The New York Times
- Nine Entertainment Co.
- Schibsted Media Group
- Axel Springer SE
- Daily Mail and General Trust
- Gruppo Editoriale L'Espresso
- Johnston Press
- Zinio LLC.
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