Online publishing now accounts for an average 12% of revenues according to a survey of some of the biggest newspaper and magazine groups. They believe this is set to rise substantially in the coming year.
The Association of Online Publishers say turnover from members’ digital operations reached Â£575m in 2006, up from Â£344m the previous year. And they are forecasting a 72% increase this year. That would take the figure to close on Â£1bn.
Simon Waldman, director of digital strategy at Guardian Media Group and chairman of AOP, said:
This is a remarkable set of figures. 2006 was a year of spectacular digital growth, innovation and investment by the UK’s media industry – and our forecasts show there is no sign of this letting up.
Three-quarters of the turnover comes from advertising with display contributing four times more than classified. The numbers of sites charging for content is increasing, from 37% to 47% over the year, and contributing 12% of revenues.
Members of AOP include: AN Digital, BBC, BSkyB, Channel 4, CMPi, CNET Networks, CondÃ© Nast Interactive, Dennis Interactive, The Economist Group, Emap, FT.com, Future Publishing, GCAP Media, Guardian Unlimited, Haymarket Publishing, Hearst Digital Network, Incisive Media, Independent Digital, IPC Media, ITV Online, News International, Reed Business Information, Reuters Group, Telegraph Group Limited, Trinity Mirror Group and Which?.