UK publishing revenue exceeds £7bn for the first time

Last year, total revenue for UK publishing reached £7.1bn, the highest level ever for the industry, with a particularly promising picture for consumer trade as fiction revenue is boosted 8%.

Both export and digital were key areas of growth for the sector as a whole in 2023, according to the ’Publishing in 2023’ report from the Publishers Association (PA), with both fiction and non-fiction rising in consumer publishing as well as double-digital growth in audio downloads.  

The record-breaking publishing revenue of £7.1bn represented 3% growth (from last year’s £6.9m) and the first time it has exceeded £7bn.

Breaking down the figures further, the PA highlighted how export market revenue has reached £4.4bn, up 4% from the year before, while digital revenue stood at £3.2bn, a rise of 5%.

Across consumer, the total publishing revenue went up 4% to £2.4bn and fiction revenue was £907m, up 8%, while non-fiction revenue came to £1.1bn (a rise of 5%). Export market revenue reached £918m, up 8%, while children’s revenue went down 4% to £412m. Audio downloads revenue was up by almost a quarter (24%) to £206m while print revenue reached £1.9 billion (a rise of 2%) and digital revenue rose by a significant 13% to £484m.           

Education publishing presented a more mixed picture: total education publishing revenue remained the same at £661m and the UK market revenue was down 12% to £192m — though export market revenue was up by 7% to £469m. Print revenue remained static at £566m as did digital revenue at £95m. 

Academic publishing was largely a positive update: total revenue for academic rose 2% to £3.6bn, UK market revenue was down 2% to £933m, export market revenue was up 3% to £2.6bn while print revenue dipped 2% to £960m and digital revenue was boosted by 4% to £2.6bn. 

Dan Conway, chief executive of the PA, said: “A great result for the UK’s publishing industry – we’ve now crossed the £7bn mark in terms of revenue. These strong figures reflect the continuing economic value of publishing to the UK.  

“It’s wonderful to see growth in many areas, including export which serves as a reminder of the influence of the UK’s publishing sector internationally. The enduring popularity of books and learning means that the sector is still performing strongly in spite of the broader economic headwinds.”

To read the full report, visit the PA website.