The question asked by Warren Ellis on his blog. The answers all tend to think that it isn’t, but that it is evolving.
Even taking this broadly positive view it’s worth remembering that in all evolutions there are extinctions. Certain parts of the magazine business are already right royally screwed – controlled circulation B2B titles have almost ceased to exist and paid-for B2B magazines aren’t looking too clever; once popular sectors of consumer publishing are on their way out – music magazines or listings titles for example – and other genres are anaemic relics with a sell by date fast approaching. In the next couple of years we will see several big companies move out of the ink on paper business (either voluntarily or because they go bust) and a number of household name titles simply disappear. Of course, not all of magazine publishing will wither and die, but we shouldn’t delude ourselves that there is any reason why it has to evolve and survive.