Niche/hobbyist titles are holding their own.
The older glossy large circulation titles are on their knees, sales figures are falling year on year and several have already folded, some with reasonably healthy circulation figures (that some publishers would give their right arm for) are no longer sustainable.
I worked in magazine publishing for over 25 years and thoroughly enjoyed every minute of it, times have now changed and I’m glad I no longer work in that sector.
The problem with the very large glossy titles is that they rely heavily on advertising revenue, the advert rates they can charge are based on their circulation figures, big circulation figures attract wealthy advertisers who will pay big money, as circulation figures fall, advert rates reduce and at some point the publication becomes unviable.