The publishing market deals with the creation and distribution of information, including literature, news, communication, and travel aids, through print media such as books, newspapers, and magazines. Japan has the world's third-largest publishing market. The market was subject to turbulence in the five years leading up to 2022 as competition from large online companies increased. The market for education and research publications grew as a possible result of increasing college admissions.
The year 2021 marked the outbreak of the COVID-19 pandemic and the resulting economic uncertainty for businesses of all sizes due to supply chain disruption across the world. Demand for publishers and retailers fell, especially for small and independent businesses. Even though consumer demands changed, the publishing industry remained focused on its mission to serve readers and the public good. Printed books continued to dominate the Japanese market in 2021, accounting for 42% of the publishing market, valued at $11,962 million. The newspaper medium has a 36% share in the publishing market, with a value of $10,252 million. Magazines accounted for 22% of the publishing market, worth $6,377 million. In 2021, the Japanese publishing market was worth $28,591 million, indicating a 2% decrease YoY.
Penguin-Random House, Hachette Book Group, and Harper Collins are among the top book publishing companies. The top newspaper publishing companies include Advance, Relx, and The New York Times. Among the top magazine publishers are News Corp, Daily Mail & General Trust, Axel Springer. Many readers have turned to online news, stories, articles, and e-books as they want current and accurate information, which is easily available and accessible. This led to an increase in the number of online readers. However, an increase in traffic will not benefit all publishing outlets equally as organizations face increasing pressure to make information more widely available. Online publishers with a subscription-based revenue stream (such as The New York Times and The Wall Street Journal) removed the paywall for specific articles. The publishing industry's inverse relationship with online readership traffic is bound to force publishing companies to shift to or focus on their online offerings.
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