It is important that publishers recognise the huge potential for the growth of this market, and the credible predictions being made about its growth. PriceWater- houseCoopers have recently estimated that by 2015 the North American digital magazine market will be worth. This indicates massive growth of what was considered a $4million dollar market in 2010.
Perhaps best emphasising the huge potential for Magazine apps currently is the New Yorker Magazine. According to statistics 20,000 people have purchased annual subscriptions at a yearly rate of $59.99 in 2011, and “several thousand” have purchased individual issues at $4.99 each. According to Conde Nast estimates, the New Yorker already has an audience of 100,000 readers on the iPad.
Representing a significant milestone for magazine publishers, Apple launched its Newsstand service for the iPad on October 12th. The new service affords newspapers and magazines a higher profile, dedicated space within iTunes and is set to act as the primary sales channel for digital magazine editions. Since its recent release, the channel has been responsible in some cases for a huge 268% Digital magazine sales increase.
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