Magazine printing in Australia has always been expensive.
Now it is also the costliest in the world.
The latest quarterly figures from the Australian Society of Magazine Printing Industry (ASPMI) show that magazine printing costs in the magazine industry were $4.8 billion in 2015-16.
The magazine industry was also the fastest growing in Australia, with the industry accounting for 4.6 per cent of the industry’s revenue in the first quarter of 2020.
The industry saw a 7.4 per cent rise in the number of publications, while the number in circulation rose by 1.3 per cent.
ASPMI president Chris Stebbins said the industry was not seeing the same growth as the last recession.
“The industry is growing at a much faster rate than it was 10 years ago,” he said.
“The sector has been growing in a very different direction.”
Stebbing said the increase in advertising revenue was a sign of confidence in the industry.
“We’re seeing the industry grow at a more robust rate than the industry in the last couple of years,” he told ABC Radio National’s Today program.
“There’s a lot more awareness and a lot of confidence that the industry is moving in the right direction.”
But it’s not all good news.
The ASPMIs annual report shows the magazine market is struggling to meet demand.
The growth rate in magazine advertising revenue has been a steady decline since 2011, while total magazine advertising revenues have declined by 11 per cent in the same period.
“Advertising revenue is down by $4 billion this year, and the industry expects to see a further drop this year,” Mr Stebbs said.
The decline in magazine ad revenue is also contributing to the shrinking magazine market.
Advertisement Advertisement Advertisement In addition, there is a growing gap between the growth of magazines in print and online, with magazines not seeing as much print advertising revenue as they used to.
“This is not the case when the magazine is printed on a paper-based medium like a paper magazine,” Mr Schumann said.
”The growth in the magazines market is going down and not up.
The gap between print advertising and online advertising is growing.
“As well as advertising revenue, magazines are also expected to see their revenues fall by $1.2 billion in 2020-21, mainly due to the closure of more print outlets.
“I think that’s the big question mark over the industry.” “
Print advertising is down $1 billion this quarter,” he warned.
“I think that’s the big question mark over the industry.”
The ASSMI has also predicted that the cost of magazines will continue to rise as print advertising continues to decline.
“For the next 10 years, there’s going to be a big price jump for magazines,” Mr Swann said.