The present invention relates to a magnetic recording medium comprising a magnetic layer comprising a ferromagnetic powder and a binder on one surface of a nonmagnetic support and a backcoat layer comprising a granular material and a binder on the other surface of the nonmagnetic support, wherein the backcoat layer has an average surface roughness ranging from 15 to 25 nm, as measured by an atomic force microscope, and a density of protrusions equal to or greater than 50 nm in height ranges from 1 to 50/mm2 on the backcoat layer surface, as measured by a three-dimensional surface roughness meter with a contact needle. The present invention further relates to a method of reproducing magnetic signals and a magnetic signal reproduction system.