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Viewing report
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Business Press Market Report
Key Note Publications Ltd, Jan 2001
In 2000, an estimated 5,461 business magazine titles were published in the UK, representing 63.3% of all magazines published. The business press has continued to prosper in recent years, although the number of titles was estimated to have fallen by 4.4% in 2000. However, this may be a short-term blip, given that both 1998 and 1999 enjoyed substantial growth. In terms of number of titles published, the UK business press market is the largest within the EU globally, its nearest competitor is the US.
In terms of advertising revenues, the business press continues to capture more than 62% of magazine advertising. Key Note estimates that total revenues were £3.74bn in 2000, of which only 13.4% was derived from copy sales, and 40.1% from advertising.
In contrast to consumer magazines, the majority of business titles are distributed by controlled circulation (i.e. free of charge, by post, to readers who match the publisher's target audience). The largest sectors, in terms of number of titles, are medicine and health, science, and business and management. In terms of audited circulation, the leading sectors are computing, business and management, medical and health, and finance and financial services.
Business magazine publishing is dominated by a few large companies, each of which has a substantial stable of titles within their portfolio. At the other end of the spectrum lie many small companies, which employ only a few staff and publish, at most, a handful of titles. The major players in the sector include Reed Business information Ltd, United Business Media PLC, Haymarket Business Publications Ltd, Emap Communications Ltd and VNU Business Publications Ltd.
The strength of the business press is reflected in the fact that 94% of business decision-makers regularly read at least one business or professional magazine. Moreover, many titles are regarded as `required reading' within a specific industry or profession.
The major challenge faced by the industry is the Internet. While the vast majority of business people and professionals still turn to printed magazines as their first source of information and news, the Internet is making inroads into certain sectors of the industry. It might be that certain areas (notably news and information) will largely migrate from the printed page onto the Internet. However, by grasping the opportunity, rather than regarding it as a threat, most business magazine publishers are well placed to eventually profit from the online revolution (although in many cases, not before making substantial losses).
There is cautious optimism in the industry for the future. While the form and content of some business titles will inevitably change, and some titles might suffer more than others, the market as a whole should continue to prosper.
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