London, United Kingdom (PRWEB) June 29, 2012
The United Kingdom is home to some of the oldest and most respected book publishers in the world. In fact, Cambridge University Press is the world's oldest publisher and has been operating continuously since 1584. A good reputation and strong local copyright laws have made the United Kingdom the biggest exporter of books in the world.
The Book Publishing industry is expected to generate revenue of £4.18 billion in 2012-13, down 0.5% from the previous year. The industry is export-oriented, with exports accounting for 43.6% of revenue. The local industry is expected to employ 25,924 people in 2012-13. Industry revenue is estimated to have decreased by an annualised 1.3% over the past five years. Weak consumer confidence and consumer spending will negatively affect consumer book sales. According to IBISWorld industry analyst Nigel Fitzpatrick, “growth in e-book sales will erode sales of physical books sales”. While an e-book usually sells for less than a comparable physical book, e-book profit margins are higher. School book sales have been and will be influenced by a decline in the number of school students due to demographic factors. Book sales to the university market have strengthened in response to an increase in total university enrolments (and in full-time enrolments). Government funding pressures will adversely affect education book sales. Imports will gain market share, although growth in book exports will partly compensate for this.
Industry revenue is forecast to increase marginally over the next five years to 2017-18. Economic conditions will improve, which will promote consumer book sales. There are a number of opportunities and risks for industry operators. E-books can help reduce industry costs, provide new distribution options and bolster profit margins. Fitzpatrick adds, “the industry needs to grapple with the interests of other players in the supply chain that may seek to take on bigger roles in the publication and distribution of physical and e-books, which could potentially erode sales and profit margins in the future”.
The Book Publishing industry has a low level of market share concentration with the top four book publishing companies estimated to account for about 28% of industry revenue. Major companies include Pearson, Hachette, HarperCollins and Random House.
For more information on the Book Publishing industry, including latest industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation’s largest publisher of industry research.
IBISWorld industry Report Key Topics
The industry includes firms that publish books.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalisation & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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