MAGNETIC RECORDING MEDIUM

An object is to provide a magnetic recording medium having excellent traveling stability and a thin total thickness.The present technology provides a tape-shaped magnetic recording medium including: a magnetic layer; an underlayer; a base layer; and a back layer, in which the number of recesses having a depth of 20% or more of the thickness of the magnetic layer is 10 or more and 200 or less per surface area of 1600 μm2, the base layer includes a polyester as a main component, a surface on a side of the back layer has a kurtosis of 2.0 or more and 4.4 or less, the magnetic recording medium has an average thickness tT of 5.6 μm or less, the magnetic recording medium includes a lubricant, the magnetic recording medium has pores, and the pores have an average diameter of 6 nm or more and 11 nm or less when the diameters of the pores are measured in a state where the lubricant has been removed from the magnetic recording medium and the magnetic recording medium has been dried.