Brief Excerpt from Industry Overview Chapter:
Companies in this industry publish newspapers, magazines and other periodicals, books, directories, and mailing lists, as well as items such as calendars, greeting cards, and maps. Major companies include Advance Publications, Hallmark, Hearst, News Corp, and Thomson Reuters (all based in the US), as well as Axel Springer (Germany), Pearson (UK), RELX Group (UK), and Wolters Kluwer (Netherlands).
Demand for books, magazines, and greeting cards is driven by consumer income, while demand for newspapers and directories is related to local population growth and local ad spending. The profitability of individual companies depends on marketing expertise, efficient operations, and new customers. Large companies benefit from the ability to share resources across multiple content outlets. Small companies can compete effectively by specializing in niche topics and markets. The US publishing industry is concentrated: the 50 largest companies generate about 60% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
In the US, books alone are the largest source of industry revenue, followed by magazines and periodicals. Newspapers, directories and mailing lists, and other items account for the remainder. Major products include textbooks, adult trade books, professional books, children's books, and reference books; daily, weekly, monthly, and Sunday newspapers; weekly and monthly general interest magazines and industry trade publications; e-books, digital magazines, and online newspapers; printed directories and mailing lists; and calendars, greeting cards, and maps.
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