Are Magazines dead?
They are also making money on online subscriptions. I just looked at rates for Mopar Muscle - they want $5.99 per issue or $23.99 per year...
You used to be able to order back issues of mags and get paper. Id guess you can only get them digital now. So, they probably make a lot of $ for issues that they don't even print. I dont currently have any subscriptions, but will occasionaly pay too much and buy one (paper) at the per copy rate if i see something of interest.