roger horton - informax(1))/globalassets/... · roger horton ceo taylor & francis. 3 academic...
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Roger HortonCEO
Taylor & Francis
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Academic Information Division
Overview of the AI division – books and journals
Characteristics of the AI Book Business
Profile of the Book Business
Digital and e-Books
Summary
Questions
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Academic Information Division
Revenues of £324m in 2011 (£153m books), Adj OP margin of 36%
Formed in 1798, floated 1998, merged with Informa in 2004
Employ over 1,400 people
Centres in UK, USA, Singapore, India, China, Australia and Europe
Built through organic growth and fully integrated acquisitions
Focused on resilient and growing nichesOP
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Specialist Academic Information
Target markets - university libraries, under/post graduate students,researchers and professionals
Shift from print to electronic delivery 100% journals online, e-book revenues 12% from zero in 10 years
Digital excellence, geographic expansion and high value/margin specialism
Quality specialist content provider
Books and journal businesses thrive on co-existence
Top Humanities and Social Science Academic publisher with STM strengths
Global focus, global reach
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1,600+ subscription based journals
3,500+ new book titles p.a.
60,000+ titles in books back list
Revenues by Type Revenues by Sector Revenues by Geography
Academic Information
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The Global AI Business
10%9%
13%8% 4%
18%
20%
29% 3%5%
13%
14%
20%5%
4.5%
0
50
100
150
200
250
300
350
2006 2007 2008 2009 2010 2011
Turnover £m
Turnover £m and growth
BooksJournalsTotal
% Growth
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Senior Management Team
Roger Horton
CEO
Emmett Dages
President US
Books
Jeremy North
Managing Director
HSS Books
Ian Bannerman
Managing Director UK
Journals
Kevin Bradley
President US
Journals
Stuart Dawson
COO
Christoph Chesher
Group Sales
Director
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Competing Publishers
AI - wide reach across fragmented market
AI - balanced, specialist, content levels
AI - quality books and journal content by subject, format and delivery
Publisher Student Learning
Research & Ref
Professional Crossover
HSS STM Books Journals
Taylor & Francis (AI) Wiley/Blackwell Springer OUP Sage Elsevier McGraw-Hill Pearson Cengage
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The Books Business
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AI Books - Resilient
Publish through the knowledge chain
Content quality is king – print, e-books, online are merely the delivery tools
Depth, scale and price setting
Education resilient through the cycle - seasonal not cyclical
Renewable and repeatable revenue streams
Global not local
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Market leading brands in humanities, social science,
science and technology
Global reach and infrastructure
Digital strategy and production innovation
Deep back catalogue consistently providing 70% of annual book revenue
Strong control of copyright, margins and pricing
Long standing, strong management team
Books – Core Strengths
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Books Revenue by Geography
24%
8%
17%
51%UK
Europe
Rest of World
North America
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Book Revenue Growth by Key ROW Territory
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Japan India Singapore Middle East China
14.0%
32.0%
10.0%8.0%
15.0%
20
11
Gro
wth
Rat
e
Market territory
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Acquisition Strategy
Bolt-on
Effective way of commissioning new
publishing
For example:
• Kogan Page Education (2003)
• David Fulton (2006)
• Productivity Press (2007)
• Architecture Press (2011)
• Earthscan (2011)
Value created by full integration, creation of scale and close management
Strategic
Strengthening of position in key subjects
or levels
Including:
• Routledge (1998)
• CRC Press (2003)
• Garland Science (1997)