According to the Publishers Association, the UK publishing industry had a record breaking year in 2017, with income up 5% to £5.7 billion, with printed books rising faster than digital ones.
The industry is already the number one exporter of books in the world and export income rose a further 8% to £3.4 billion in 2017, accounting for 60% of total revenues.
Other highlights from the PA Publishing Yearbook 2017 include:
Total book sales income (physical and digital books) is up 4% to £3.7 billion;
Total digital sales income (digital books and journals) is up 3% to £1.8 billion;
Total physical book sales income is up 5% to £3.1 billion;
Total journal sales income is up 5% to £1.6 billion;
Total journal export income is up 5% to £1.4 billion.
Stephen Lotinga, chief executive of the Publishers Association, said:
‘These figures reveal another stellar performance from the UK publishing industry. From blockbuster novels to the textbooks and research papers which shape our thinking, today’s statistics prove that society’s love of books in all forms shows no sign of waning.
‘Publishers are catering to modern consumers who are reading books in different formats across different platforms, but still showing a very significant attachment to the printed word, as we continue to see the resilience and popularity of print across publishing sectors.
‘Export income has increased significantly and this increase is testament to the high regard UK publishers, authors and their work are held in around the world – and the continued appetite of readers for them.’