The latest annual Publishing Futures survey of the UK’s leading publishers has found that revenues and confidence in 2012 are forecast to remain robust as the sector continues its shift to a multi-platform future.
> Click here to view the Publishing Futures 2012 infographic
> Click here for a breakdown of the key findings for the business media sector
A total of 85% of companies predict that revenues in 2012 will either grow or remain steady, with an average forecast rise in turnover of 5.0% across the sector. This compares with an increase in actual revenues of 4.2% in 2011 and 3.2% in 2010, demonstrating a continued improvement since the economic downturn of 2009.
Across the industry as a whole, print accounted for the majority of income in 2011 (68.8%), although this figure is notably higher for consumer publishers (82.3%) than business media companies (59.4%). Digital revenues accounted for 17.8% of income in 2011 but are predicted to increase by 36% over the next two years to make up 24.3% of the sector’s revenues.
The remaining 13.4% of this year's total is made up of live events (9.6%), reader services (1.6%), data services (0.5%) and other income (1.6%).
Despite the current turbulent economic conditions in Europe and the UK, publishers’ confidence about their companies’ future financial success over the next two years remained relatively stable at 6.9 out of 10, with 77% feeling equally or more confident than the previous year.
Barry McIlheney, CEO of the PPA, said: “The growth reported in Publishing Futures 2012 paints a picture of a robust publishing industry that is adapting to the ever-evolving demands of audiences and advertisers.
“This is the third year we have run Publishing Futures and while we remain an industry with print at its core, it is fascinating to chart our members’ dynamic transition to becoming multi-platform companies who create unique connections with their audiences across an increasing range of channels.”
Jim Bilton of Wessenden Marketing, which carried out the study, said: “The backdrop to the survey is rapid, digitally-driven change and an uncertain economic outlook. So, it is no surprise that the robust level of publisher confidence is tempered with some caution.
"However, the sector has shown continued improvement since 2009 and publishers are getting to grips with the structural changes which are shaping their businesses."
A more detailed overview of the findings of Publishing Futures 2012 can be found in the January/February issue of InPublishing magazine, which is available as a free digital edition.
Publishing Futures is an annual benchmarking study run by Wessenden Marketing in association with the PPA and InPublishing magazine. The survey provides a snapshot of the key trends and issues across consumer, business media, digital and newspaper publishers.
The fieldwork for Publishing Futures took place in November and December 2011 and the survey was completed by a total of 121 respondents who collectively produce over 5,200 information products across print, digital and live platforms.
For further information please contact Marius Cloete, Head of Research.