San Jose, California (PRWEB) January 10, 2012
Follow us on LinkedIn The publishing industry, comprising mainly books, magazines and newspapers, is largely influenced by lifestyle changes and choice and is thereby influenced by changes in macroeconomic conditions such as the change triggered by the recent economic recession. The publishing industry displayed resilience during the early part of the 2007-2009 recession largely due to the fact that books/magazine/newspapers provide a cheap and affordable form of entertainment during financially tough times. However as the financial crisis deepened over the successive months, the industry buckled under the pressure and dwindling book sales, and decline in new title publications, as a result of reduced consumer discretionary incomes and per capita spends, left the publishing industry hurting. The industry, during this period, underwent a phase of consolidation with broad-based business streamlining and restructuring, as well as strategic alliances, mergers, acquisitions and closures. The onset of recession also accelerated the penetration of digital technology (e-books), which are cheaper to produce and distribute, in the sector, further eroding the thin margins.
The recession also created changes in reading habits with celebrity autobiography/memoir witnessing the highest erosion in readership and sales. Other book genres which recorded declines include books on wellness, fitness, food and drinks, mind, body and spirit, and maps and atlases, among others. The proliferation of satellite navigation systems, and GPRS reduced the demand for maps and atlases, while free, educative information online reduced the need for hardbound, educative computer books. Given that reading is a activity that helps de-stress and breakaway from the stress of everyday life, the recession has in-effect influenced readers preferences away from serious fiction and non-fiction towards lighter reading such as, murder mysteries and romances, among others. Also, recession literature designed to cover current social and political issues gained in popularity.
Contrary to the popular apocalyptic view of the future of the print publishing industry, optimism nevertheless prevails over the future of the industry as books are deeply embedded in numerous cultures worldwide beginning with the Western culture and will not likely to fade anytime soon, given their cultural value and meaning they hold in the lives of people. Adoption of digital publishing, on-demand printing and online technologies will help the industry compete with emerging alternatives. Newer business models, distribution channels, marketing strategies will mold growth in the industry. In addition to the opportunities in store, challenges will also bedevil the industry in the upcoming years. For instance, challenges for traditional print will continue to lurk in the form of electronic versions of newspapers, periodicals, e-books, and audio books. The threat will intensify with the proliferation of cost-effective eReading devices, smartphones and tablets, among others.
Currently, the publishing industry is witnessing growth in the professional information sector, comprising of STM, business and legal publications. Although the financial austerity pervading the publishing market spells good news for outsourced service providers, the tight competition and stringent quality standards are expected to trim profit margins in the sector. Self-publishing continues to grow unabated by the economic downslide; however the threat of large companies taking over smaller players looms high.
With electronic reading devices, smartphones and tablet PCs becoming common place, the digital publishing sector is growing at an explosive pace. Today, digital publishing is perceived as a complementary business segment rather than a substitute for print publishing. The entire fraternity of publishers, particularly professional information, academic and textbook publishers are ardently investing in and adopting digital technologies, on-demand printing and online technologies to tap this lucrative segment. Newspaper publishers who bore the brunt of the digital revolution, especially with the spread of free online news publications, are also experimenting with subscription based online content and free downloadable apps, given the growing interest among advertisers and the fast-expanding consumer base in the segment. Publishing associations around the world are laying out a framework for content protection and revenue generation.
The research report titled Publishing Industry: A Global Outlook announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include US, Canada, Asia Pacific (including Japan), Latin America and the EMEA (Europe Middle East and Africa) market comprising France, Germany, Italy, UK, Spain and Russia among others. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit
http://www.strategyr.com/Publishing_Industry_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
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