To understand the scope of the magazine industry, it is necessary to define the term "magazine." And while the translation of the word "magazine" may simply be "a storehouse," technological advances constantly challenge how people define the word in their own minds. In the modern world, online websites and television broadcasts are considered to be magazines, but in the traditional sense, a magazine is printed on paper. At the most basic level, a magazine provides information that may be more in depth but less timely than that of, for example, a newspaper. A magazine can typically focus on trends or issues, and it can provide background information for news events.

Magazines have the luxury of focusing on a smaller target audience, which means they do not have to try to please all of the people all of the time. Instead, they can narrow their audience to...