Ups and lows of the magazine industry during the Covid-19 pandemic Corona-hit magazine industry
When the Covid-19 hit the world, there was anticipation that the Australian magazine industry would be significantly impacted, and rightly so, the magazine industry was in crisis. Many employees across various printing media lost their jobs overnight. Magazines of multiple genres such as fashion, lifestyle, celebrity, et cetera saw a drop in the magazine subscriptions in Australia during the corona hit pandemic. However, surprisingly, the industry bounced back with a greater force during the situation of the Covid-19 pandemic. Although many experts and stalwarts believed that the impact would be profound and take many years to revive the industry, little had they anticipated that the magazine industry would make such a remarkable recovery.
Yes, it was confirmed that many employees were informed via zoom calls that their respective publishing media would cease all printing operations, which meant that there would be no work for the employees. However, the same houses recruited and retained their employees with considerable enthusiasm. The magazine houses gave assurance to their employees of being out of work to be a temporary situation, and rightly so, they stayed with their word and took back their employees. The Australian market once enjoyed a vast diversified share of the market. Interestingly, it now wants even more diversified markets with various arrays of genres brought into the segment. The variety of readers, people from different age groups, and increased disposable income led to the boom of this market of magazine houses.
Revival in the form of blessing in disguise
An interesting fact – At present, magazine subscriptions in Australia have a reading population of more than 15 million readers. The number of readers rose from 12 million to 15 million readers, which is more than a 4% total increase. Like any other industry, the magazine industry also saw a drip in the figures. However, many magazine houses have continued and thrived. They have bounced back with full force and again built a solid loyal readership across various genres of magazines. The number of readerships increased prominently over a year. On a rough average, every category saw a rise of around 10 percent. Magazine categories such as Food and Entertainment, General Interests, Housing and Gardening, Women’s Magazines, et cetera saw a nice rise in readership.
There was also a significant rise in other categories of magazines such as Motoring, Music and Art, Sports, et cetera. Times of difficulties bring a change in lifestyles and habits. During this lockdown, people saw a vast shift in their lives which was followed by quick adaptation to them. With increased disposable time, people had more time to spend on other things. With time being spent on ‘experience traveling’, people were forced to stay indoors. As a result, more people started reading. It was seen that the general Australians had more free time, which was utilized for reading. Any normalcy in the near future was unpredicted due to the vast impact of the covid-19. Reading was seen as escapism in situations of crisis. When the pandemic situation eased up, this habit of reading got carried on by the people.
For years, the outburst of the vast network of the internet was seen as a killer to the magazine industry. Readership became viewership as more people switched to watching movies and videos. However, the Covid-19 pandemic was a last resort that revived the magazine industry. Initially, the pandemic impacted the sector profoundly. However, the same pandemic came out to be a blessing in disguise. The no of readership increased, and people are devoting more time to reading.
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