Many popular magazines like the Newsweek have gone completely digital and for good reason. Close to 50% of the total world population are internet users with an average yearly growth of about 10%. An average user spends about 3 hours a day on the internet either through a laptop or a handheld. This notwithstanding the proliferation of smartphones and other handheld devices aiding customers to get everything they want within a few taps.
Publishers will now need to re-engineer their offering in order cross over to the digital world, if not already, to cater to this vast potential. According to Technavio’s latest report, the global digital magazine publishing market is expected to exceed USD 35 billion by 2020 growing at a CAGR of over 20% during the forecast period.