Global digital magazine revenues are holding steady and will keep posting good numbers until 2018, says a new 2014 infographic report by Readbug, an upcoming ‘Netflix for magazine’ app, supported by data provided by FIPP in its World Digital Media Factbook 2014-15.
Print sales have declined steadily year-on-year, with revenues from digital platforms becoming exceedingly important, as they surged by 42% from 2013 to late-2014. Digital is estimated to generate US$1.5 billion by 2018 for the publishing industry.
In contrast, digital subscriptions among the top 25 best-selling titles only account for an average 12% of the total market share.
Mobile is also increasing its presence and will be the dominant platform of the future with a booming number of magazine consumers on mobile.
Readbug aims to capture the growing mobile user base by redefining the reading experience on mobile and tablet platforms thanks to its exclusive in-house technology, which will rely on a competitive monthly subscription model to access the world’s best titles.
For more about the FIPP World Digital Media Factbook 2014-15 visit the toolkit on FIPP Insight.