There is still a market, but there does seem to be a change in the type of magazine that’s doing well.
The more expensive, less adverts, almost A4 paperback book version seems to be becoming more prevalent. I can think of a few, non-music, magazines that have started in the last couple of years that are doing well. 2 that I get on my other interests of mountain biking and cars being Cranked and The Road Rat, the Road Rat being very book like.