Friday Five for September 23rd
Welcome back to Friday Five, your one-stop shop for industry news and trends. A new survey reported that magazine consumers prefer print over digital, publishing industry sales increased by $3 billion in the US in 2021, Spotify introduced audiobooks to their platform, United Kingdom’s Financial Times is the only newspaper with annual circulation growth seen in August, and shares in Marie Claire publisher Future plunge.
Magazine Readers Prefer Print
According to a recent study by YouGov Profiles, magazine readers in the United Kingdom and the United States still prefer to read their favorite publications in print. Only 18% of the United Kingdom respondents said they prefer reading magazines online over print, compared to 29% in the United States. The same does not hold true for news, however. Read the full article.
Publishing Industry Sales Rose by $3 Billion
The Association of American Publishers’ final sales figures for 2021 reveals a 12.3% increase in industry sales, with final sales reaching $29.33 billion, up from $26.1 billion in 2020. Read the full article.
Spotify Launches Audiobooks
Spotify, one of the largest music streaming service providers, is adding audiobooks to its platform. Spotify users in the United States will be able to purchase and listen to more than 300,000 audiobook titles. Read the full article.
National Press ABCs: Financial Times Circulation Growth
The Financial Times reported a modest year-on-year rise in circulation in August, while every other newspaper continued to decrease. The Financial Times had a circulation of 105,748 in the month of August, a slight increase from 105,213 the previous year. Read the full article.
Shares in Marie Claire Publisher Future Plunge
Future, one of Europe’s largest and most successful digital media firms, has lost more than £300 million in market value after announcing that CEO Zillah Byng-Thorne will step down after almost a decade. Read the full article.