Digital giants eye magazines to spur growth (axios.com)
The U.S. consumer magazine industry shrunk by more than 30% in the past five years, due largely to print advertising declines, per PwC data. The rate of decline is expected to slow slightly in the next five years, thanks to new efforts from online media companies to acquire and digitize traditional print brands. Why it matters: "If you make the right acquisition in the right vertical ... it can give you real scale that is meaningful and major clout in that vertical very quickly," said Jason Webby, chief revenue officer at Future.