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Magazines: Inc Impact of COVID-19 - UK - December 2020

OVERVIEW
What you need to know
Key issues covered in this Report
COVID-19: Market context
Impact of the January lockdown and the vaccination rollout
Economic and other assumptions
Products covered in this Report
EXECUTIVE SUMMARY
Impact of COVID-19 on magazines 
Figure 1: Short, medium and long-term impact of COVID-19 on magazines, prepared 11 January 2020
The Market 
Mintel forecasts a 10% decline in print circulation in 2020
Figure 2: Market forecast for UK circulation of print magazines, 2015-25
Gardening and news magazines perform strongly in 2020
Key Players 
Digital Spy launches exclusive magazine on Apple News+
Magazines launch virtual events 
The Consumer 
Outbreak boosts online readership of magazines 
Figure 3: Impact of COVID-19 on magazine readership, 20-31 August 2020
Escapism and relaxation are particular magazine qualities to promote during the pandemic 
Figure 4: Magazine behaviour since COVID-19 outbreak, 20-31 August 2020
Virtual events can be a long-term option for publishers 
Figure 5: Interest in virtual magazine events, 20-31 August 2020
Readership of all magazine genres has fallen during the pandemic compared to 2019 
Figure 6: Magazines readership, by genre and format, 20-31 August 2020
Figure 7: Magazines readership, by genre (NET), August 2019 and 20-31 August 2020
Using online delivery services to encourage spontaneous purchasing of print magazines 
Figure 8: Print magazines purchasing, August 2019 and 20-31 August 2020
Fewer people are paying for digital content 
Figure 9: Digital magazine purchasing, August 2019 and 20-31 August 2020
Figure 10: Magazine website/app purchasing, August 2019 and 20-31 August 2020
Instructional videos are the most popular magazine videos
Figure 11: Interest in magazine videos, 20-31 August 2020
Parents turn to children’s news magazines during pandemic 
Figure 12: Parents’ purchase of children’s magazines, 20-31 August 2020
Figure 13: Type of children’s magazine purchases, 20-31 August 2020
Increasing diversity in children’s magazines will boost interest among both kids and parents 
Figure 14: Reasons for buying children’s magazines, 20-31 August 2020
ISSUES AND INSIGHTS
With the print market hit hard by the pandemic, digital platforms are more important than ever
The Netflix model is better suited to magazines than newspapers
THE MARKET – KEY TAKEAWAYS 
Print circulation sees significant drop in 2020
Publishers close print titles
Some magazines see subscriber and digital growth
Reduced adspend from brands heightens difficulties
MARKET SIZE AND FORECAST
COVID-19 outbreak accelerates trend away from print 
Figure 15: Short, medium and long-term impact of COVID-19 on magazines, prepared 11 January 2020
Mintel forecasts a 10% decline in print circulation in 2020
Figure 16: Market forecast for UK circulation of print magazines, 2015-25
Figure 17: Market forecast for UK circulation of print magazines, 2015-25
Market drivers and assumptions
Figure 18: Key drivers affecting Mintel’s market forecast, 2015-25 (prepared on 11 January 2020)
Learnings from the last recession
Figure 19: Estimated volume of UK print magazines distributed, 2006-12
Forecast methodology
MARKET SEGMENTATION
Paid print circulation dropped significantly in 2019
Figure 20: Average circulation for top 10 UK/RoI paid print magazines, six months to month end, 2017-19
Gardening and news magazines perform strongly in 2020
The Week Junior is the strongest-performing title year-on-year 
Figure 21: Average circulation for top 20 UK/RoI paid print magazines, six months to month end, 2019 and 2020
Free print magazines continue to perform better than paid magazines
Figure 22: Average circulation for top 10 UK/RoI free print magazines, six months to month end, 2017-19
Figure 23: Average circulation for top 5 UK/RoI free print magazines, six months to month end, 2019 and 2020
News magazines hold relatively strong 
Figure 24: Average circulation for top 5 UK/RoI news and current affairs print magazines, six months to month end, 2017-20
Men’s lifestyle and women’s weekly magazines continue to decline 
Figure 25: Average circulation for top 5 UK/RoI men’s lifestyle print magazines, six months to month end, 2017-19
Figure 26: Average circulation for top 5 UK/RoI women’s weekly print magazines, six months to month end, 2017-19
Digital magazines were not performing particularly well prior to outbreak 
Figure 27: Average UK/RoI circulation for top 10 digital magazines, 2017-19
Figure 28: Average UK/RoI circulation for top 10 digital magazines, 2019-20
Digital subscriptions are not a straightforward growth story for many magazines 
Figure 29: Paid UK/RoI digital subscriptions, 2018 and 2019
Figure 30: Paid UK/RoI digital subscriptions, 2019-20
MARKET DRIVERS
Impact of the January 2021 lockdown
People have been spending less on magazines since the outbreak of COVID-19 
Figure 31: Impact of COVID-19 on time spent doing media activities, 2-14 July 2020
Figure 32: Impact of COVID-19 on amount spent on media content, 2-14 July 2020
The outbreak has reduced the occasions people read magazines
Figure 33: Situations where magazines were read, September 2016
Print production suspended at many titles 
Magazines close as more titles become unsustainable during the pandemic
Some magazines and publishers report a slightly more positive picture 
Advertisers pull back leading to a drop in advertising revenue 
Problem of advertiser blacklists is further highlighted during pandemic 
Pandemic puts focus back on home deliveries 
UK government removes VAT on digital magazines early 
Future completes takeover of TI Media 
COMPANIES AND BRANDS – KEY TAKEAWAYS
Magazines experiment with virtual events 
Readly and Apple News+ show potential of multi-magazine subscriptions 
Diversity and inclusion are a greater focus 
LAUNCH ACTIVITY AND INNOVATION
Titles adapt to COVID-19 outbreak in different ways 
The Big Issue begins to be sold in supermarkets 
Time Out become Time In 
Magazines launch virtual events 
Digital Spy launches exclusive magazine on Apple News+
Readly launches perfectly timed campaign 
Harry Styles becomes first man to have a solo Vogue cover 
Racial intolerance in Vogue’s past is brought to the forefront 
Mum launches magazines for Black children, to fill gap in the market 
Vogue Cover Challenge demonstrates potential of TikTok
Future buys GoCompare as the publisher focuses more on product recommendations 
John Lewis launches new magazine 
Men’s Health partners with MunchFit for delivery service 
ADVERTISING AND MARKETING ACTIVITY
Magazine publishers’ traditional adspend in decline 
Figure 34: Total above-the-line, online display and direct mail advertising expenditure on magazines, 2016-20 (up to 24 November 2020)
Figure 35: Top 10 advertisers in the magazine market, 2016-20 (up to 24 November 2020)
Nielsen Ad Intel coverage
BRAND RESEARCH – CURRENT AFFAIRS
Brand map
Figure 36: Attitudes towards and usage of selected brands, November 2020
Key brand metrics
Figure 37: Key metrics for selected brands, November 2020
Brand attitudes: The Economist is viewed as offering consistent quality 
Figure 38: Attitudes, by brand, November 2020
Brand personality: Private Eye is strongly associated with fun
Figure 39: Brand personality – macro image, November 2020
The Economist and The Week lead with way for credibility 
Figure 40: Brand personality – micro image, November 2020
Brand analysis
Readers are satisfied with Private Eye 
Figure 41: User profile of Private Eye, November 2020
The Economist is the most trusted current affairs magazine 
Figure 42: User profile of The Economist, November 2020
The Spectator is the least trusted current affairs magazine 
Figure 43: User profile of The Spectator, November 2020
Fewer people are aware of The Week 
Figure 44: User profile of The Week, November 2020
BRAND RESEARCH – WOMEN’S MAGAZINES
Brand map
Figure 45: Attitudes towards and usage of selected brands, November 2020
Key brand metrics
Figure 46: Key metrics for selected brands, November 2020
Brand attitudes: Good Housekeeping stands out for quality and trust 
Figure 47: Attitudes, by brand, November 2020
Brand personality: Prima is associated with fun 
Figure 48: Brand personality – macro image, November 2020
Yours is cool but low-brow 
Figure 49: Brand personality – micro image, November 2020
Brand analysis
There is high awareness of Good Housekeeping 
Figure 50: User profile of Good Housekeeping, November 2020
Women don’t feel Prima is addressing them as an individual 
Figure 51: User profile of Prima, November 2020
Woman &amp; Home’s brand image is weaker than Good Housekeeping’s 
Figure 52: User profile of Woman & Home, November 2020
Yours read more by women from low-income households 
Figure 53: User profile of Yours, November 2020
THE CONSUMER – KEY TAKEAWAYS 
People turn to magazines during the pandemic for relaxation and information 
Magazines shouldn’t dismiss virtual events once the pandemic ends 
Room for greater experimentation with celebrity interviews and scripted comedy videos 
Children’s news magazines appeal to parents 
IMPACT OF COVID-19 ON CONSUMER BEHAVIOUR 
Outbreak boosts online readership of magazines 
Figure 54: Impact of COVID-19 on magazine readership, 20-31 August 2020
Escapism and relaxation are particular magazine qualities to promote during the pandemic 
People turn to magazines to learn about their in-home hobbies 
Figure 55: Magazine behaviour since COVID-19 outbreak, 20-31 August 2020
People’s desire to support magazines is a positive indication of their loyalty 
Virtual events can be a long-term option for publishers 
Figure 56: Interest in virtual magazine events, 20-31 August 2020
MAGAZINE READERSHIP 
Readership of all magazine genres has fallen during the pandemic compared to 2019 
Figure 57: Magazines readership, by genre and format, 20-31 August 2020
Figure 58: Magazines readership, by genre (NET), August 2019 and 20-31 August 2020
Many read multiple genres highlighting why multi-magazine subscriptions can play a strong role 
Figure 59: Repertoire of magazine genres read, by age, 20-31 August 2020
MAGAZINE PURCHASING 
Using online delivery services to encourage spontaneous purchasing of print magazines 
Figure 60: Print magazines purchasing, August 2019 and 20-31 August 2020
Fewer people are paying for digital content 
Figure 61: Digital magazine purchasing, August 2019 and 20-31 August 2020
Figure 62: Magazine website/app purchasing, August 2019 and 20-31 August 2020
Multi-magazine subscriptions are likely to be one of the most successful models going forward 
INTEREST IN MAGAZINE VIDEOS 
Instructional videos are the most popular magazine videos
Figure 63: Interest in magazine videos, 20-31 August 2020
Figure 64: Interest in magazine videos, by age, 20-31 August 2020
More in-depth and informal celebrity interviews could prove strongest draw for younger readers 
More magazines could move into scripted content through comedy sketches 
CHILDREN’S MAGAZINES 
Parents turn to children’s news magazines during pandemic 
Figure 65: Parents’ purchase of children’s magazines, 20-31 August 2020
Figure 66: Type of children’s magazine purchases, 20-31 August 2020
Increasing diversity in children’s magazines will boost interest among both kids and parents 
Figure 67: Reasons for buying children’s magazines, 20-31 August 2020
Encouraging parents to read print magazines with their children 
Digital gifts can be made more prominent by magazines 
APPENDIX – DATA SOURCES, ABBREVIATIONS AND SUPPORTING INFORMATION
Abbreviations
Consumer research methodology

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