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Companies in this industry produce and distribute magazines and other print and electronic periodicals, which includes gathering, writing, and editing articles, and selling and preparing advertisements. Major US companies include Advance Magazine Publishers (doing business as Condé Nast), Meredith, Time Inc, and the magazine division of Hearst Corporation. Outside the US, major companies include Germany's Gruner + Jahr (owned by Bertelsmann) and Bauer Verlagsgruppe, as well as Italy's Arnoldo Mondadori Editore.
Worldwide revenue for the consumer magazine market, a major component of the magazine publishing industry, is about $80 billion, according to PricewaterhouseCoopers. The US is the largest consumer magazine market, but China, Brazil, and South Africa are notable growth markets.
The US magazine publishing industry includes about 6,000 companies with combined annual revenue of about $40 billion. Competition from free-access online content is a key challenge for the industry.
Demand for magazines is driven largely by growth in consumer income. The profitability of individual companies depends highly on marketing expertise. Small companies can compete by specializing in niche topics and markets, while larger companies benefit from a wide selection of magazine titles to offer advertisers. Large companies also have economies of scale in production and distribution. The US industry is concentrated: the 50 largest companies generate about 60 percent of revenue.
While the total number of consumer magazines published in the US is greater than 7,000, less than 350 have circulation ...
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