Press Release: B-to-B Media & Info Industry Growth Rate Jumps 77 Percent in 2013
NEW YORK, April 16, 2014 - The results of the Business Information Network (BIN) Report for the full year 2013 were released today by the Association of Business Information & Media Companies (ABM) - a division of the Software & Information Industry Association (SIIA), the leading association representing the software and digital content industries. ABM's annual report finds that the business-to-business media and information industry revenue grew 4.8 percent last year, up 77 percent compared with a growth rate of 2.7 percent in 2012.
That growth represents an industry-wide level of business media and information revenue of $26.85 billion in 2013, compared with $25.62 billion in 2012.
The ABM BIN Report also measured industry revenue by segment from 2012 to 2013 and concludes that industry growth is increasingly being driven by gains in data-driven business intelligence and digital advertising. ABM data shows that, among industry segments, digital advertising revenue grew the fastest (22 percent), followed by data/business information (10 percent). In addition, revenue generated by events grew 3 percent, while print advertising fell 4 percent.
"Business-to-business media is sitting on a gold mine of customer data and business intelligence, and companies appear to be taking advantage of it," said ABM Managing Director Mike Marchesano. "B-to-b media companies are increasingly offering business intelligence with quality, actionable insight into customer behavior. Growth should continue as the media and information companies continue to blaze new trails as a result of recent acquisitions and partnerships with data and market research companies."
Just this week, NewBay Media purchased data firm Ratings Intelligence. In 2013, McGraw Hill Financial acquired 22 percent of research and ratings firm CRISIL, a $335 million deal; in January 2014, Farm Journal purchased Machinery Pete, a farm equipment data provider.
Marchesano continued, "The ABM BIN Report also reflects the media industry's successful transition to digital content. While events have remained the industry's largest revenue generator, we're seeing dramatic gains in data and digital ad revenue. These areas are more than making up for the decline in print advertising and leading to accelerating overall growth."