Report finds rise of digital publishing and decline of print in 2014.

Integration of traditional publishing and digital publishing in China is accelerating and reshaping the industry, according to a report released in Beijing on July 15.

The Press and Publication Analysis Report (2014) was produced by the State Administration of Press, Publication, Radio, Film and Television. It found that revenue of China’s publication, printing and distribution industry in 2014 reached 1.996 trillion yuan ($321.67 billion), up 9.4 percent from the previous year.

The report identified four trends in the press and publication industry in 2014.
First, digital publishing maintained its high-speed growth to secure the second biggest share of the industry. Revenue of digital publishing was 338.77 billion yuan ($54575.847 billion), accounting for 17 percent of the industry.

The growth rate of online anime revenue hit 72.7 percent, occupying a leading position in digital publishing. The growth rate of mobile publishing revenue reached 35.4 percent, exceeding the average growth of digital publishing. The revenue growth rate of online journals and e-books was 18.2 percent, higher than the average growth rate of press and publication.

Second, the press industry is declining overall amid increasing operational difficulties. In 2014, 46.39 billion copies of newspapers were printed, down 3.8 percent from the previous year. Newspaper revenue was 69.78 billion yuan, dropping 10.2 percent year-on-year, while total profits fell 12.8 percent to 7.64billion yuan.

In 2014, 3.1 billion volumes of journals were published, falling by 5.4 percent year-on-year. Journal revenue was 21.2 billion yuan, dropping 4.5 percent, and total profits were 2.71 billion yuan, down 5.4 percent. Revenue from main operations and total profits of 46 media and press groups nationwide fell 1 percent and 16 percent respectively. Seventeen press houses were hit by profit losses, two more than in 2013.

Third, publication and copyright trade structures were further optimized. In 2014, China published 448,000 series of books, 256,000 of which were new. The growth rate dropped 5.8 percent, the first decline of the decade. The number of re-printed books grew 2.2 percent. The report found a transition is currently unfolding whereby quantity is giving way to quality and efficiency in publishing.

Fourth, more social capital has been injected into the industry. Private enterprises are expanding their printing and distribution operations under measures guiding private capital.

Analysts attribute growth in digital publishing to preferential policies and funding support. As the publishing industry grows through cooperation with education, finance, tourism and other sectors, synergy of resources, techniques, and channels will promote innovation of products and services.

However, there are still shortcomings in publishing quality. Better integration of traditional publishing and digital publishing needs to occur to advance existing modes of development. Content should drive sustainable development and social benefits should be prioritized over economic benefits, analysts recommended.

Translated by Du Mei
Revised by Tom Fearon