Major companies in the print media market include News Corp; Pearson PLC; Bertelsmann; Axel Springer and Gannett Company Inc. The global print media market is expected to grow from $287. 87 billion in 2020 to $313.
New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Print Media Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018830/?utm_source=GNW
28 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $342.81 billion in 2025 at a CAGR of 2%.
The print media market consists of sales of newspapers, magazines, other periodicals, books, directories and mailing lists, and other works, such as calendars, greeting cards, and maps and related services such as advertising space by entities (organizations, sole traders or partnerships) that publish print media. The print media market is segmented into directory, mailing list, and other publishers; book publishers and newspaper & magazines publishers.
Asia Pacific was the largest region in the global print media market, accounting for 37% of the market in 2020. North America was the second largest region accounting for 32% of the global print media market. Africa was the smallest region in the global print media market.
The rise in social media and the increasing volume of consumer data is driving growth in the newspapers and magazines industry. Newspapers and magazines publishers can have broad and deeper visibility on their consumers, distributors and other stake holders. Publishers with digital first model are investing significantly in building in-house data and analytics team. For example, Next Big Sound’s, Next Big Book application provides a dashboard for the publishing industry which offers information on sales, publicity events, social media, and web trends data regularly to offer a holistic view of the books’ performance. It will highlight factors that are the most influential such as news preferences, columnist preferences and genre preferences.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the print media markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of ’lock down’. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels. It is expected that the print media market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
E-books sales is growing rapidly in established markets of the USA and Europe. eBooks generated a higher share of revenues than the physical print in developed markets such as the US and UK. According to PWC, total global book publisher’s revenue will increase, growing at a CAGR 1.7%, during the forecast period. Although the physical book publisher’s industry continues to shrink (-2.8%), this decline is offset by growth in e-books which are predicted to grow at a CAGR of 11.7% in the forecast period. Increasing consumer preference for the digital versions is expected to significantly impact the growth of the market during this period.
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