Annual consumer expenditure on magazines has topped the £2 billion mark for the first time, reaching £2,031 billion in 2004, increasing by £54 million compared to the same time last year, according to the Advertising Statistics Yearbook 2005.
The report, published for the Advertising Association by the World Advertising Research Centre (WARC), claims that consumer expenditure on magazines has increased by 34% in real terms over the last decade, despite competition from the rise of the internet and multi-channel TV over the same period.
Internet penetration has resulted in consumers spending more time online than with any other media, with 35% of US respondents watching less television and nearly as many spending less time with magazines, according to a recent survey by BURST! Media (see Worldwide Broadband Lines Top 174 Million In Q1 2005).
Commenting on the findings, Ian Locks, chief executive of the Periodical Publishers Association (PPA) said: “This represents an important milestone and demonstrates the enduring strength of magazines and the incredible innovative powers of the sector in continuing to capture the imagination of the British public.”
He added: “For this growth to have continued during such an amazing time of change for the media as a whole is particularly remarkable.”
The new statistics reveal that the total annual volume of consumer magazines sold in the UK has risen for the fourth consecutive year, with sales in 2004 rising by 14 million copies to reach 1,339 million.
The weeklies market enjoyed the strongest growth, increasing by 31 million copies, while the total number of fortnightlies sold rose by four million, compared to monthly magazines, which fell by 22 million to 329 million.
Turnover for the customer magazine industry topped £385 million during 2004, enjoying an increase of almost 10% since 2003 and a massive 244% over the last decade, according to research published earlier this year from Mintel (see Strong Future Forecast For Customer Magazines).
The study, commissioned by the Association of Publishing Agencies (APA), forecasts that customer magazines will become increasingly integrated into the marketing mix, with turnover for the sector expected to exceed £531 million by 2009.
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