I don’t buy the 3-7%, but even at 1-2%, there’s still enough consumers to sustain a worthwhile publication. Have you seen some of the obscure magazines out there? There are multiple magazines for chess enthusiasts alone!
But the Chess Magazines are shooting for a specialized international audience; rather than a limited city audience. If the Chess magazine were confined to a local market segment - it too would be doomed. That's the difference.
Hmmmm, I wonder how the internet would affect a magazine like that? My wife and I contribute to FR because we would rather give our newspaper money to Jim, than to a Liberal rag.