Online Services Supplant Books in Tax, Business Publishing

Online services have taken over as the lead revenue generating medium in the tax, accounting and business publishing market, supplanting books for the first time ever, according to the latest report from Simba Information, a leading media industry forecast and analysis firm.

Global Tax, Accounting & Business Publishing 2013-2014 revealed that online services grew to 5.1% to $3 billion in 2012, representing 43% of the entire market, pushing the book category into second place for the first time with 38.7% of the market. Top business publishers now see professionals getting the bulk of their information content through digital and online platforms, creating a whole new range of media formats in which to provide content such as social media and book apps, as well as increasing the use of mobile devices for content delivery.

Global Tax, Accounting & Business Publishing 2013-2014 provides market sizing, strategic and competitive analysis, forecasts and critical insight into this dynamic market.

Overall, tax, accounting and business publishing market posted only incremental growth of 0.7% in 2012 due to weak economic conditions in Europe and negative book sales. Strong growth was seen in Asia-Pacific and other emerging markets, but sales from those parts of the world still represent less than 15% of the market, so the growth is not able to drive the market as a whole.

However, data from the U.S. Bureau of Labor Statistics provides indications that the market is poised for growth. The number of accountants and auditors in the U.S. has been rising steadily since 2010, with numbers in 2012 finally surpassing 2007 employment levels at 1.13 million.

The newly released Simba report provides an overview and financial outlook for tax, accounting and business publishing market based on specific research and analysis of the leading competitors and market performance in five key publishing activities and four regional geographic markets.

The report also includes detailed analysis of leading publishers in the legal and business segments, such as Wolters Kluwer, Thomson Reuters, Reed Elsevier, J.J. Keller, John Wiley & Sons, McGraw-Hill Education, Bloomberg BNA and many more.