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Companies in this industry produce and distribute magazines and other print and electronic periodicals. Major US companies include Advance Magazine Publishers (doing business as Condé Nast), Hearst, International Data Group, Meredith, and Time Inc. Outside the US, major companies include Arnoldo Mondadori Editore (Italy), Bauer Media Group (Germany), Gruner + Jahr (Germany), and Sanoma (Finland).
Worldwide revenue for the consumer magazine market, a major component of the magazine publishing industry, is about $95 billion, according to PricewaterhouseCoopers. Growing middle classes in developing markets such as India, Indonesia, and Peru are driving consumer magazine growth in these countries, even as revenue in developed economies declines.
The US magazine publishing industry includes about 6,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $28 billion.
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% of revenue.
The total number of consumer magazines published in the US is greater than 7,000. Magazines compete with a variety of print, online, and broadcast media for consumer attention.
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