British b-to-b sector prospers and set to grow despite economic outlook

Print still brings home the bacon for British b-to-b publishers, but fewer than 15% of them plan to launch new print ventures, at least with the current uncertain economic outlook. According to a story in U.K. Press Gazette, research commissioned by the trade body the Periodical Publishers Association shows British business media is now worth almost £23bn annually and is set to grow, despite the economic downturn.

Business media, which includes the B2B side of brands like the Financial Times, The Economist Group and Reuters, as well as solely B2B companies, enjoyed a turnover in 2006 of almost £23bn, up from £15.6bn in 2004, according to the survey conducted by GfK NOP.

Print remains at the heart of B2B operations, generating £8.9bn of turnover or 46 per cent of total

Online is up from £1.2 bn in 2004 to £2.8bn in 2006, and is expected to be the biggest area of development in the next five years, with more than a third of companies surveyed predicting further investment in this area.

Incisive Media CEO and chair of the PPA’s Business Media Council Tim Weller said: “As a sector we are truly the envy of our British media peers and the blueprint for a successful industry, and by God let’s not be ashamed to shout about it.

“To put it into context, at £23bn the UK business information and professional media industry is the same size as the UK education sector.”

The 2007 survey included some new sectors not included in the 2004 survey but even with that taken into account, the new figure still represents an 18 per cent revenue growth in the sector in two years.

Weller said that the figures indicated how well British editors and journ­alists had overcome what he called the “biggest cultural challenge” of delivering news when it happens, wherever it happens.

Weller said: “What editors can take from this is how well business media have embraced the different delivery channels, such as online, and in person delivery.

“If you compare it to other forms of media we seem to have got our business models right. We’re making money online and we’re making money face to face.”