Chuck Richard has a warning for b-to-b media executives: If your company's electronic revenue wasn't 30.2% or more of its total revenue in 2007, it was below average in adapting to the shift away from print advertising.
That 30.2% figure appears in an Outsell report, “Market Analysis: Leaders in the B2B Print to Electronic Revenue Shift,” which was released earlier this year. In the report, Richard analyzed the print, event and electronic revenue streams of 44 top business media companies, including IDG, Penton Media and Reed Business Information.
Richard makes the case that b-to-b media companies are moving faster toward electronic revenue than conventional wisdom holds. In the report, he predicts that this will be the year that aggregate electronic revenue will surpass aggregate print revenue at the media companies he surveyed.
In the survey, Richard included companies such as ThomasNet and Global Sources, which have abandoned print altogether, and companies such as GlobalSpec, which has never had print products.
Richard advises publishers to be more aggressive in adding electronic revenue streams. “We don't expect this phenomenon to go away anytime soon and encourage information providers and publishers to look closely at how they can embrace and integrate this new media into their traditional products,” he wrote in the report. M
DO: Consider acquisitions in the rich data arena and develop electronic products for emerging markets.
DON'T: Stand pat. Instead, continue to focus on growing electronic revenue.