You didn't specify which magazine you were interested in, but I have a print subscription of Quilter's World, which also allows me access to the digital subscription. I can download the magazine as a PDF to my computer. I searched the FAQs and they do specifically say you can download, but I didn't see anything about the printing. I would expect you would be able to print a copy for yourself since you have paid for it. They also have "web bonuses" which are often same pattern different sized quilts or templates that you can print.
You might try emailing customer service of whatever magazine you are interested in and asking them directly.
Advantages - you get it sooner, saves space, access to back issues.