CHART OF THE DAY: Nobody Wants To Buy Magazines Anymore

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Magazine newsstand sales plummeted 9% in the second half of the year compared to last year. Certain popular titles like Newsweek, Time, and W took it particularly hard, losing more than 30% of newsstand sales.

While these sales aren’t make-or-break for magazines, they are profitable, according to the New York Times.

This decline in sales explains, in part, why media companies are praying at the altar of the iPad and other tablets. The market for applications is gaining steam at the same time the market for physical magazines is dying. If publishers can get into the biggest online newsstands in the world, the theory goes, they can regain some of the vanishing sales.

We’ll believe it when we see it.

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