Internet has changed the way magazine publishers doing business, the majority of research have found that a magazine’s companion website reduces its print circulation; however, little has been done in examining Taiwan’s market. Taiwanese magazine publishers are thus eager to explore how people make choices between digital magazines and printed magazines in order to facilitate the publication of digital magazines. In this study, we investigate the relationship between the printed magazine reading time and the web browsing magazine time using data from 2012~2013 “Culture Participation Survey” conducted by the Ministry of Culture where Heckman two-stage model is employed to correct the sample selection bias and the instrumental variable method is imposed to solve endogeneity arising from estimation such that consistent and unbiased estimates result. The study finds that the web browsing magazine time is mainly a substitute to the printed magazine reading time. A person, who is male, less-educated, younger, low-monthly income, is more likely to replace printed magazine reading with web browsing magazines. The empirical results may serve as reference for magazine publishers, digital publishing distribution platforms, and advertisers in their business decision-making, as well as for the Government’s information and communication policy-making.