Publishing industry includes printing of newspapers, books, and magazines across academic, professional and general sector. Other segments in this industry are mailing lists, information services, directories, and journals. Global publishing industry is continuously growing, majorly driven by internet publishing, elimination of regulatory restrictions and increasing investments.
Printing industry is under huge pressure as readers are shifting towards online resources and e-books. E-book market is flourishing mostly due to increasing tablet sales and growing e-readers. Printed books are also now available in digital formats, as it provides easy access and convenience for storage. Major factors which are driving digital publishing market are rising technological innovations, provision for diverse formats and increasing adoption of smartphones.
Global digital publishing market is estimated to grow significantly on the back of its cost effectiveness, growing number of knowledge workers and increase in information and data consumption across industries for the purpose of making professional decisions. North America is the leading geography, while Asia Pacific is showing highest growth potential due to increasing income level and electronic innovations in some Asian countries like China, India and Indonesia.
Educational publishing is anticipated to grow steadily, boosted by the digitalization in education sector to provide interactive and visual learning. Another interesting segment is music publishing, it involves music recording, publishing, and distribution of musical content. It requires a copyright to publish a music content, companies need to pay some fee commonly known as royalty.
Some of the challenges faced by publishing industry are protection of content rights and royalties, increasing tendency towards free e-books, and conflict between publishers about pricing.
Major players operating in publishing industry are Pearson, Random House, Penguin, Harper Collins and Hachette.
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