Contract Publishing Industry Continues To Boom
The contract publishing industry continues to boom with turnover expected to reach an estimated £313 million in 2002, according to the latest report from market research company, Mintel.
The research shows that the industry is performing solidly in the current economic climate, with turnover increasing by 90% over the last five years.
Commenting on the findings, Hilary Weaver, director of the Association Of Publishing Agencies, said: “The continued strong growth in contract publishing is due to companies beginning to understand their importance in building strong profitable relationships with their customers and targeting brand communication in a way their audience will enjoy and respond to.”
According to the report, retailing and financial services were the top industry sectors in 2002, each accounting for 15% of the total market, followed by travel, with a 10% market share. The top three types of magazines received by consumers were those from supermarkets (46%), non-grocery retailers (23%) and satellite, cable and digital companies (20%).
Customer magazines continued to be well-read during 2002, with 61% of consumers claiming to have read between one and three customer titles in the three months prior to the survey and 27% admitting to reading between four and 20 titles during the same period.
Affluent consumers were found to value magazines the most, with 52% of ABC1s claiming to prefer being told about products and services through customer magazines than via any other marketing medium. On average this was about 10% more than those in the C2DE socio-economic bracket combined.
ABs also demonstrated the strongest tendency to buy a product or service as a result of reading a consumer magazine, with 40% claiming to have done so last year.
According to Mintel, 74% of consumers receive their customer magazines by mail, with 72% of those being personalised. 23% of respondents said they would be more likely to read a magazine and respond to any offers enclosed if it is personally addressed to them.
Redwood Publishing is currently the UK’s largest contract magazine publisher, followed by the recently merged John Brown Citrus (see Citrus Set To Merge With John Brown).
Mintel: 020 7606 5932 www.mintel.com
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