Slow sales were a result of increased competition from free, ad-driven services and slow economic growth in the U.S. and in Europe.
Stamford, CT (PRWEB) February 25, 2014
Current awareness news and research (CANR) providers, faced with new realities sprung from the social and mobile media revolution, are working earnestly to adapt and transform — but the current impact on industry growth isn’t attracting many “likes.”
Global sales in the CANR market increased just 1% to $2 billion in 2012, according to the most recent report from media and publishing intelligence firm Simba Information. The slow sales were a result of increased competition from free, ad-driven services and slow economic growth in the U.S. and in Europe.
The performance is hard to believe if you ride on a train and see scores of people consuming news on mobile devices, or if you surf social media sites where news links are often posted and discussed.
The report, “Current Awareness News and Research Market 2013-2016,” found that the current system of search, aggregation and Web distribution is helping sell more online advertising, but subscription uptake for major CANR providers has waned.
As a result, CANR providers have attempted to branch out and make their subscription offerings more attractive. Some competitors are choosing to specialize in niche content such as press releases, financial reports or contact data. On the technology side, knowledge management tools have become important differentiators for many of the competitors in this field, as “information overload” is a real challenge to many of today’s executives.
Just under half of the new product announcements in 2012 and the first three quarters of 2013 were for enhancements to search or the development of analytic solutions tying into search features. A majority of CANR vendors have extended these search capabilities to include social media content from sources such as Facebook, Twitter and blogs.
Major CANR providers have started to highlight the amount of non-English language content they are able to provide clients, particularly content coming from outside North America and Europe. This trend is as much for existing clients in North America and Europe as it is for enticing new clients in the rest of the world.
Simba Information’s “Current Awareness News and Research Market 2013-2016” provides market sizing, strategic and competitive analysis, forecasts and critical insight into the CANR market. Coverage includes leading competitors such as: LexisNexis, Dow Jones Factiva, Google and Hoover’s. The report is part of Simba’s expanded coverage of professional publishing and business information markets.
About Simba Information
Simba Information is widely recognized as the leading authority for market intelligence in the media and publishing industry. Simba's extensive information network delivers top quality, independent perspective on the people, events and alliances shaping the media and information industry. Simba publishes newsletters and research reports that provide key decision-makers at more than 15,000 client companies around the globe with timely news, analysis, exclusive statistics and proprietary industry forecasts. For more information, please visit http://www.simbainformation.com or call 888-29-SIMBA.