Press Release: B2B Media Industry Revenue Grew 2.7% in Q3 of 2014
NEW YORK - February 12, 2015 - The results of the Business Information Network (BIN) Report for the third quarter of 2014 were released 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 report finds that total quarterly revenue for U.S. B2B media and information companies reached $6.75 billion for the third quarter of 2014 - up 2.7 percent compared with industry revenue for the same period in 2013.
ABM's report finds that this revenue increase can be attributed to the growth of digital advertising revenue, which rose 17 percent year-over-year. In addition, business information services, while the smallest contributor to total revenue, rose a healthy 7 percent for the third quarter of 2014 compared with the third quarter of 2013. Important factors contributing to this growth include an improved economy and significant company investment in business information.
Digital brands play an increasingly important role in the overall B2B media industry and represent an ever-growing share of overall industry revenue," said ABM and Content Division Managing Director Mike Marchesano. "The BIN report for the third quarter of 2014 reflects the success of the B2B media industry's digital solutions as well as the continued strength and value of online advertising."
Commenting on the rise in data service revenue, SIIA Business Information Council Chair Bill Ault said, "2014 was a strong year for the U.S. economy, and large companies were not shy about making significant investments in data, which many of them see as their future. Data, big or small, is viewed as a 'must have' in many instances."
Revenue from print advertising contracted for the third quarter, falling 4.2 percent for 2014 compared with the third quarter of 2013. However, this was a smaller decline than the 4.7 percent decrease comparing Q3 2013 to Q3 2012. Furthermore, print advertising revenue in certain verticals grew in the third quarter for the third quarter of 2014 compared with the third quarter of 2013. The Aviation, Aerospace and Military category experienced 10.6 percent growth, while the Automotive category grew 7 percent. Revenue for B2B events, including both trade shows and conferences, was essentially flat.