The book publishing industry recorded total revenues of just over $2.4 billion in 2005, up only 1.6% from 2004. This was in sharp contrast to the 19% growth rate that occurred from 2000 to 2004.
Despite the lackluster performance nationally, total revenue gains were strong in the West with British Columbia (+19.9%), Saskatchewan (+9.1%) and Alberta (+8.7%) outpacing the national average.
In contrast, publishers in the Atlantic provinces lost ground as revenues declined by 5.2%. Ontario saw a small 2.2% decrease in revenue from 2004 while Quebec had an increase of 6.8%.
Despite stagnant revenue growth, profits for book publishers were up in 2005. Total profit for the industry grew from $227 million to $285 million in 2005. The industry's total profit margin increased from 10.1% to 11.9%.
Companies in Ontario and Quebec accounted for the majority of the book publishing industry's profit. They earned $270 million of the industry's $285 million profit. They also led the industry with profit margins of 11.0% and 13.1% respectively. British Columbia was next with a profit margin 7.8%.
Salaries, wages and benefits accounted for 20.9% of total industry expenses, up marginally from the previous year.
The top 10 publishers in the industry earned 52% of the total revenue and had a profit margin of 15.8%. The comparable figures for 2004 were 51% of revenues and a profit margin of 14.0%.
(Thanks to Cabot Yu for the tip.)
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