The Pew Project for Excellence in Journalism released its annual State of The News Media report today, and because FishbowlNY loves you, we sifted through the data on magazines.

Among the six magazines considered in the newsweekly category – Time, Newsweek, The Atlantic, The New Yorker, The Week, and The Economist – the niche titles did the best. The Atlantic, The New Yorker, The Week and The Economist all saw circulation and ad pages increase. The Atlantic had the best year among those four, achieving a 24 percent increase in ad pages from 2009 to 2010.

That’s the good, now here’s the bad: Unsurprisingly, Newsweek had a horrible year, as its circulation fell by 31 percent, and ad pages plummeted by about 20 percent. Time didn’t do nearly as bad, but still lost one percent of its circulation and 3 percent of ad page sales.

As you can see, newsweekly magazines that appeal to a mass audience are going to have a tough time staying competitive, while ones that appeal to a small, loyal consumer base will thrive. It’s a tough pill to swallow, but the numbers – much like Shakira’s hips – don’t lie.

Thank you for putting up with a Shakira reference.