Business media - Stats crunch
There are around 4,000 companies in the UK (with 5 or more employees) that provide business media products/services, generating £22.8bn revenue in 2006.
This industry sector is enjoying continued growth, having practically doubled in size since 2000 and grown 35% in real terms (factoring in inflation) since 2004.
Sector breakdown
Revenue split by type of media
Within business media, print (magazines and newsletters) is still the largest revenue generator £8.9bn in 2006, representing 47% of the market, business magazines remain essential reading for nearly all decision makers in every industry sector.
Despite being the largest and most stable sector, print still grows steady at about 8% from 2004 to 2006.
Online business information is now well established representing 15% of the market (£2.8bn) - the same size as face-to-face events (exhibitions, conferences) which account for another 15% of the market. Business exhibitions (39%) and conferences (36%) are the most widely offered face-to-face events.
Unsurprisingly, online is the fastest growing revenue channel rising 44% between 2004 and 2006. 2005 research showed 55% of business media owners citing faster and cheaper technology, internet usage, e-commerce and broadband as the key changes affecting their business over the prior two years.
Along with £3.3bn spent on marketing services (such as direct mail and consultancy), these four areas represent 94% of UK business media revenues.
The remaining 6% is headed up by data publishing (£0.5bn) followed by business broadcasting and market research / management consultancy reports, each generating £0.3bn revenues.
A small but rapidly rising star is business broadcasting - business TV and radio - growing from £232m in 2004 to £289m in 2006, literally one to watch! A third of companies in the sector are considering expanding their products into this area.
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