Russia Print, Newspapers & Magazines Market Outlook

The russia print, newspapers and magazines market has been experiencing moderate growth and has been witnessing several positive developments over the last few years. in 2018, the market was valued at around $8.3 billion and is expected to reach somewhere around $20 billion by the year 2032, with an aagr (annual average growth rate) of 5.2%. the increasing number of newspaper and magazine readers is one of the main drivers for this market. discussing russia’s media landscape, it has been observed that the country is one of the biggest newspaper markets in europe and this print market share is estimated to remain the same over the forecast period to 2032. moreover, the rising demand for various lifestyle publications, especially for women’s and children’s magazines, has further been driving the market for print-based newspapers and magazines. further, some of the key factors propelling the demand for print media include the rising use of digital media coupled with lower costs of entry for subscription services by newspaper and magazine publishers. to remain competitive, publishers have been introducing various subscription-based services to attract readers. moreover, the digital media has also opened up opportunities for magazine and newspaper publishers to reach wider readers, if compared to the print format. the increasing availability of digital newspaper and magazine readers and smartphones in the russian market is also set to drive the growth of this sector. the growing number of readers who prefer to access news on their smartphones is further set to boost the industry. in terms of challenges, the rising competition from digital and broadcast media has been acting as a restraint on the growth prospects of the russia print, newspapers and magazines market. moreover, the rising use of mobile networks and the increasing spending power of the russian consumer has been creating a number of competition for printed media. further, the growing presence of online and news aggregator websites has further been impacting the revenue of newspaper and magazine publishers in the print segment. thus, keeping in mind the overall outlook of this market, it can be concluded that despite of certain challenges the russia print, newspapers and magazines market is expected to observe steady growth over the forecast period to 2032 with an aagr of 5.2%.