Digital Newspapers & Magazines Market Growth & Trends
The global digital newspapers & magazines market size is projected to reach USD 45.75 billion by 2028, registering a CAGR of 4.2% during the forecast period, according to a new report by Grand View Research, Inc. The growing popularity and acceptance of digital newspapers & magazine media across the globe are accelerating market growth. Moreover, the increasing number of paid subscribers of digital publishing across the globe is accelerating market growth.
Gather more insights about the market drivers, restrains and growth of the Digital Newspapers & Magazines Market
Grand View Research has segmented the digital newspapers & magazines based on type (e-Newspapers, e-Magazines, Digital Newspaper Advertising, Digital Magazine Advertising).
Based on Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.
North America made the largest contribution to the market of around 45% in 2021 and is expected to witness a CAGR of 3.0% from 2022 to 2028.
The increasing popularity and acceptance of digital newspapers & magazine advertising among the various industry verticals is boosting the market growth during the last few years. Moreover, a huge population of subscribers to digital media in the North American region is propelling the market growth. Moreover, the rising penetration rate of the internet and the increasing number of smartphone users are boosting the regional market growth. In addition to this, the young population of this region is adopting digital newspapers and magazine subscription services, thus driving market growth.
Asia Pacific is the fastest-growing market and is expected to witness a CAGR of 6.6% from 2022 to 2028.
This can be credited to the increased spending on digital newspapers & magazines in countries such as Japan, China, and India due to the huge consumer base. Moreover, the rising popularity of digital media and the growing rapid adoption of paid subscriptions among users is further accelerating the market growth. Furthermore, the massive penetration of smartphones and affordable internet in countries of Asia is expected to accelerate the market growth during the forecast period. Additionally, the rising urbanization and growing awareness about the branding of a particular product through digital advertising tools is witnessing an upsurge in market growth.
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The key players in the digital newspapers & magazines market include - News Corporation; The New York Times; Nine Entertainment Co.; Schibsted Media Group; Axel Springer SE; Daily Mail and General Trust; Gruppo Editoriale L'Espresso; Johnston Press; Readly, Zinio LLC.; and Magzter.
Key market players are focusing on acquisitions and launching new functions to meet consumers’ expectations by offering trending digital newspapers & magazine formats. For instance, The New York Times has announced the acquisition of The Athletic, a digital subscription-based sports media business. This acquisition will help The New York Times in a position to be a global leader in sports journalism and offer English speakers around the globe. Moreover, vendors are expanding their reach across the globe with an innovative business model.
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