Chicago—The next great challenges for business media executives will be in the work force and information technology areas, declared American Business Media President-CEO Gordon Hughes II in his Wednesday morning keynote address at the group’s annual Top Management Meeting.
As is his tradition, Hughes also offered ABM's projections for the coming year. He said print ad pages would grow 1% to 2%, print revenue would increase 2% to 4% and event revenue would grow 6% to 8%.
Next year, he added, face-to-face revenue will be "at parity" with print. Currently, magazines generate about $10.8 billion a year in revenue and events about $10.4 billion.
Digital revenue, Hughes said, will continue its double-digit growth, increasing 22% to 25%. For ABM members, the average revenue contribution currently coming from e-media is 14% today.
Hughes also projected the custom business will grow 18% to 20% next year.