Media industry-focused research and advisory firm Outsell, Inc., US, has issued reduced growth projections for the information industry owing to the global recession. The new report, titled What is Good Performance in 2009?, presents revised projections for eight sectors.
According to the report, anticipated growth for the scientific/technical/medical information was reduced from 8.2 percent to 5.1 percent. Other sectors with reductions for projected growth include search/aggregation/syndication (from 16.8% to 7.5%); education and training (from 7.0% to 5.5%); and non-IT market research, reports and services (from 9.5% to 5.0%).
It is believed that the industry may further decline in 2010 because of lower renewal rates and contract values catching up in ratable revenue streams. Declines due to structural changes, such as a continued downfall of print advertising and the use of social media, is also predicted. Overall, Outsell is projecting aggregate industry growth, excluding news companies, of 4.7 percent. That translates to $391 billion in worldwide revenue versus earlier estimates of 8.3 percent growth for worldwide revenue of $400 billion.
In December 2008, the company had published its Information Industry Outlook 2009: No Guts No Glory, offering predictions, analyses and key themes for the information and publishing industry. Outsell projected steady growth of about 3 percent each year for the information industry. According to the report, growth was expected to reach $400 billion in 2008 and $412 billion in 2009.
