While the web has replaced the printed page for some purposes there's still plenty of room for a traditional magazine. I see kids reading lots of magazines. The trick is to identify the market.
For example, gamers often prefer a magazine full of hints, tips and cheats to a text file, PDF or other file on the computer. It's awkward to switch from game mode to hunt for a bit of info - easier to keep a magazine next to the computer or game console.
Brides to be still buy magazines. Folks thinking about redecorating still buy magazines. Insert your own pet example.
The fact is that, IMHO, the web is great for discussions and lousy as a substitute for the printed page. Staring at a monitor makes my eyes bug out. There are centuries of collective wisdom about typography, kerning, letter-, word- and line-spacing, among other factors, behind the printed page.
Meanwhile I'm getting a headache trying to see the teensy default font used to enter this very reply.
Also, I still have some back issues of Shutterbug and Pop Photo dating back several years that had some interesting articles on darkroom stuff. I no longer have access to any of the stuff on my old PCs or Macs. When I upgraded or the old stuff crashed I just kissed 'em goodbye, along with all the data.