LONDON, April 03, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Print Media Global Market Report 2023, E-book sales are rapidly increasing in the established markets of the United States and Europe. In developed markets such as the United States and the United Kingdom, eBooks generated a higher share of revenue than physical print. According to PWC, total global book publisher revenue will rise during the forecast period, growing at a CAGR of 1.7%. Although the physical book publisher industry continues to contract (-2.8%), this decline is offset by growth in e-books, which is expected to grow at an 11.7% CAGR during the forecast period. Consumer preference for digital versions is expected to have a significant impact on market growth during this time period.
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The global print media market grew from $319.4 billion in 2022 to $326.5 billion in 2023 at a compound annual growth rate (CAGR) of more than 2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The print media market is expected to grow to $343.7 billion in 2027 at a CAGR of more than 1%.
Growth in the newspaper and magazine industry is being driven by the rise of social media and the increasing volume of consumer data. Publishers of newspapers and magazines can gain a broader and deeper understanding of their readers, distributors, and other stakeholders. Publishers following the digital-first model are heavily investing in the development of in-house data and analytics teams. For example, Next Big Sound's Next Big Book application provides a dashboard for the publishing industry that provides data on sales, publicity events, social media, and web trends on a regular basis to provide a comprehensive view of the books' performance. The most influential factors will be highlighted, such as news preferences, columnist preferences, and genre preferences.
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Major companies in the physical and digital print media market include Bertelsmann SE & Co KGaA, Lagardere SCA, News Corporation, Grupo Planeta, QUAD/GRAPHICS INC., Scholastic Corporation, Hubert Burda Media, Kadokawa Corporation, Axel Springer SE, and John Wiley & Sons Inc.
Asia-Pacific was the largest region in the print media market in 2022. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the print media market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The global print media market is segmented by type into directory, mailing list, and other publishers, book publishers, newspaper & magazines publishers; by business model into subscription, advertising; by application into publishing house, newspaper office, other applications; subsegments covered into directory and mailing list, other publishers, consumer books, educational books, religious books, newspapers, magazines.
Print Media Global Market Report 2023 by The Business Research Company provides insights on the print media market size, print media market growth rate, print media market segments, print media market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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