Industrial Context
Contemporary Context:
- Companies in the magazine industry gather, write and edit articles as well as sell and prepare advertisements to produce and distribute print or electronic magazines.
-The major companies in this industry include Condé Nast(which is owned by Advance Publications), Hearst, international Data Group and Meredith(These are all based in the US). Outside of the US major companies in this industry are Arnoldo Mondadori Editore(Italy), Bauer Media Group(Germany), Gruner + Jahr(Germany) and Sanoma(Finland)
-In terms of the amount of circulation the Uk's best magazines are The national trust Magazine, Radio Times, Slimming World, Good Housekeeping and Stylist.
-The National Trust Magazine is full of behind the scenes stories and amazing photography. It has a circulation of 2.4 million and so the magazine helps readers get more from their visits to places in the National Trust.
-The Radio Times was the worlds first broadcast listings magazine when it was founded in 1923, It is a weekly television and radio programme listings magazines and has a circulation of more than 519,000
-Slimming World is published seven times a year and it is the UK's best selling title in the health and diet sector, with a print circulation of over 560,000.
Finance, distribution and exchange
-Demand for magazines is driven largely by growth in consumer income. The profit made by individual companies highly depends on the degree of marketing expertise within the company. Small companies starting from the bottom can compete with over rival companies by specialising in niche topics and markets. Larger companies however benefit profit wise by producing a wider selection of magazines titles to offer advertisers.
-The recent rise in technology has been very useful for magazines as they have been able to provide content for their audiences both in thhe form of a print and online magazine. This has increased circulation over the years because more people are bale to acess their magazines. Online magazines are able to distribute via the subscription option on their websites, in fact subscriptions are the most effective way for magazines to make money. Companies can also collect subscribers addresses which can be used to advertise new products of interest or to encourage to re-subscribe.
-Factoring out the idea of online magazines, these companies are still able to distribute their magazines out to people. often magazines will be sold on news stands or more commonly in stores, however when you factor in elements like the cost to transport the magazines to the store or newsstand, the company makes much less money in comparison to the amount they make via their online copy.
-Classified ads can be quite expensive for companies to purchase, even in smaller less successful magazines. The companies producing the magazines often allow advertisers to take advantage of unused space in the front and back cover, this is also beneficial to the company producing the product as it helps to fill up the pages of the magazine and therefore improve the appearance of it. This is a very important and effective way for magazines to generate income.
-It is estimated that 86% of adults read magazines and therefore creating something compelling enough to read means there is a high chance that people will buy it.
-Finding funding for magazines can be extremely difficult and hard to secure having said that it is much easier to get funding than a prototype. Most magazines will start of small using their own money to begin with and will eventually adventure into funding once owner has shown they are willing to invest in the magazine themselves. Usually a small loan is taken out in order to get the magazine started.
-Printing, paper and postage are the biggest expenses when starting a magazine, and figures will depend on publication frequency and circulation.
-The company must ensure they attract big advertisers . They can contact regionaly advertisers directly to begin with
