Analysis of existing market

Market growth - The music publishing market is expected to grow from $7.07 billion in 2023 to nearly $10.58 billion by 2030. This growth is due to the expansion of the music industry and the advertising sector, as well as the popularity of digital platforms for music consumption.

Challenges - The music industry faces challenges such as the lack of clear ownership structures for streaming music and the complexities of integrating digital and traditional publishing models.

Competition - The Competition and Markets Authority (CMA) report states that the three major labels and publishers have more control over how their intellectual property is exploited than independents. 

Magazine sales - According to Press Gazette, magazine sales fell by 12.4% in 2023. This could potentially be from the mass audience moving away from physical copies of books and magazines, and more to online media as they find its easier and more accessible.

Revenue - Magazines make money through circulation price, subscriptions, advertising, sponsored content, and product placement.

Example of thriving company - NME is a much well known company and a top contender for one of the best magazine companies out there to recent date. The reason they thrive so well in such a competitive magazine industry, is due to the brand image they have managed to build so well over the years. They have managed to create a strong brand image through the unique house style included, and the loyal community/fans they have gained through regular buyers due to promotional offers and exclusives etc.