Overview
Fluctuation in sales noted due to volatile demand for global publishers and digital transformation of the country
Singapore’s publishing services industry has one of highest market values in literacy worldwide with the demand for publications such as books, newspapers, magazines and periodicals, as well as the country’s intellectual property (IP) protection regime. Smooth business setups and accessible human resources make Singapore a perfect hub for the publishing services market to thrive. As a result, this has led to the establishment of many local publishing giants including World Scientific Publishing, Marshall Cavendish and SPH Magazines as well as international industry players such as Reed Elsevier, McGraw-Hill Education and Cambridge University Press.
The industry comprises a range of divisions such as books, magazines, newspapers, digital online content, e-book publishers and video game developers. Singapore is an open market for bestselling books; with the growing population and rise in tourism, an increased spending on novels was noted in 2015. However, local publishers took a blow as international books took dominance in bookstores. The growth in sales began to dip, resulting in high-profile bookshop closures such as Borders and Page One.
This change in the publishing industry may have been due to the potential digital transition of consumer publishing. Singapore is recognised for having one of the best IP regimes, and was ranked first in Asia and second in the world in the World Economic Forum's Global Competitiveness Report 2012/2013. This has allowed the country to further develop its IP licensing and management industry, especially within the e-book and other publishing asset markets.
In 2022, within Singapore’s publishing market, revenue of the newspaper and magazine segment was expected to reach a potential of USD 164.50 billion while showing an expected compound annual growth rate (CAGR - 2022-2027) of -1.13%. Additionally, in 2022, the complete revenue of the books segment will also reach an anticipated USD 111.50 billion, showing a CAGR (2022-2027) of 2.30%.
Special regulations and licences must be obtained for publications to be launched to maintain the industry’s reputation
Singapore’s publishing services market is regulated mainly by the Infocomm Media Development Authority (IMDA), a government agency and statutory board that covers the integrated information communication (infocomm) media sector. IMDA works alongside the publishing services industry, taking a co-regulatory approach, ensuring industry players adhere to necessary self-regulation.
All publications such as local entertainment and lifestyle magazines, imported publications and audio material are required to follow the Undesirable Publications Act (UPA). In order to import publications, using the online TradeNet System under Singapore Customs, a TradeNet permit must be obtained. To obtain this permit, relevant supporting documents including invoices or packing lists and the number of quantities regarding publications or audio material titles are required while the respective Harmonised System (HS) Codes and product codes must be provided.
Furthermore, any sales of restricted publications containing mature content that offers artistic or educational benefit must adhere to the Restricted Publications Scheme (RPS). Video games being developed are currently complex and graphically realistic containing mature content; therefore, the Video Games Classification system was launched in 2008, as protection for younger players. Video game distributors and retailers are not required to attain a licence but must comply with the obligations of the Films (Licence Exemption) (Amendment) Notification 2021 and Films Act - Films (Class Licence for Video Games Distribution) Order 2019.
Pertaining to newspapers, any publication for sales or distribution - involving news, intelligence, reports of occurrences or any other public interest matter - printed in any language and that is not a government publication must adopt the Newspaper and Printing Presses Act. This is applicable for any marketer and distributor of offshore publishers, local publishers, or Malaysian marketers or distributors.
Additionally, online news sites are licensed under the Online News Licensing Scheme framework, under which each news site is required for two months to report one article regarding Singaporean news or current affairs and must have at least 50,000 visitors with unique IP addresses across Singapore. Some well-known local news sites registered under this scheme include The Straits Times, The Business Times, CNA (Channel News Asia) and Today (online).
The Business Times is the only local financial daily and news site belonging to Singapore Press Holdings Media (SPH Media), a leading media group and publisher of newspapers, magazines and books in both printed and digital formats. The Singapore Book Publishers Association (SBPA) is an organisation that represents the concerns of local publishers involved in publishing, marketing and distribution operations for both printed and digital format publications.
Key Trends
Publishing industry undergoes digital transition, creating gateway to wider scope for content writers, publishers and editors
Since 2008, Singapore has been evolving its reputation as a regional hub for media businesses and for overseeing the financial backing, development and trade of media content and services. As a result, Singapore is home to four of the top five scientific, technical and medical (STM) global publishers - SAGE Publications, Taylor & Francis, Elsevier and Wiley-Blackwell.
Maintaining the country’s strategic jump towards IDM (interactive digital media), Singapore is seeing a sudden entry of IDM companies like Electronic Arts, Lucasfilm and Southern Star. In 2006, the First-Time Writers & Illustrators Publishing Initiative was established by the National Book Development Council of Singapore (NBDCS) and the Media Development Authority (MDA) of Singapore as a gateway for aspiring writers and illustrators to publish their work and launch their careers.
The digital transition of Singapore’s industries, especially when adopting digital transformation strategies, is all leveraged by technology; as a result, digital marketing and digital businesses have played a vital role within the publishing services sector for decades. The digital and publishing process, which includes desktop publishing, digital scanning and colour separation, database publishing and computer-to-plate printing, also profited greatly from the usage of digital technologies. The internet is a wide space for content development and for writers and content creators to develop ideas and leverage internet tools to bolster self-publishing. This has opened a wider scope for publishers and editors who seek to enhance their expertise by identifying new talent or sourcing images.
Local trade publishers handle the printed version of self-published books or novels developed online. Qualified academic andSTM publishers were the first to take on digital transition head-on within the industry, and have been delivering electronic books and journals for the past 15 years or so to libraries and institutions worldwide. Meanwhile, local publishers face numerous hurdles when trying to market books digitally and need to discover the best format of distribution through the correct digital channels to suit local readers.
Key Statistics
- In 2016, Singapore's financial daily newspaper The Business Times was ranked number 2 on the trade magazine Marketing's ‘Newspaper of the Year’ list.
- In 2008, it was reported in a joint press briefing by Singapore's Economic Development Board and the Infocomm Development Authority (IDA) and the MDA that the regional headquarters of two vital enhancements, Reader's Digest - an international leisure favourite - and leading in-flight magazine publisher Ink Publishing, had been established within the publishing services sector in Singapore.
- In 2020, during the COVID-19 pandemic, a decline in advertising revenues was seen at SPH Media; as a result, 5% of the media group's headcount had to be relinquished as a way of reorganising media sales and magazine operations. However, as the Ministry of Manpower (MOM), the Creative Media and Publishing Union (CMPU) and the National Trades Union Congress (NTUC) were aware of this, SPH collaborated with the CMPU and NTUC's Employment and Employability Institute (e2i) to guarantee that affected staff members were compensated with the right support and help they required during these trying times.
Top Singapore MNCs in Publishing
ELSEVIER (SINGAPORE) PTE. LTD.
Repeated as per client
ARGUS MEDIA SINGAPORE GROUP PTE. LTD.
Headquartered in the UK, Argus Media Group is a firm that publishes RSS (Rich Site Summary) news feeds, podcast series, reports, and articles related to price assessments and analysis of international energy and other commodity markets. Additionally, the firm offers bespoke consulting services and organizes industry-leading conferences. It is the parent firm of Argus Media Singapore Group, which was incorporated in Singapore in 2013. The firm is focused on publishing reports that include key industry indices and benchmark prices for products within the Asian markets and across the globe.
CENGAGE LEARNING ASIA PTE. LTD.
Cengage Learning is an education technology company headquartered in the USA. The firm caters to the higher education, K-12, professional, library, and workforce training markets across the globe. Its regional headquarters in Singapore, Cengage Learning Asia, was founded in 1992. The Asia Editions (AE) magazines published by the firm are developed for students and faculty in Asia. Readers benefit from the magazines’ latest content which consists of engaging discussions of fundamental concepts and established perspectives, ensuring a well-rounded understanding of any subject. The company’s online learning platform, which gives instructors complete course control, publishes textbooks, study tools, and more.
DUN & BRADSTREET (SINGAPORE) PTE. LTD.
With its operations based in the United States, Dun & Bradstreet made a decision to extend its reach across the globe to Singapore in 2000, with the incorporation of Dun & Bradstreet (Singapore). The company offers commercial data, insights, and analytics for businesses. It provides a comprehensive range of publications for professionals in the spheres of risk and financial analysis, sales and marketing, and operations and supply, as well as research and insights on global business issues. Government clients as well as those in the communications, technology, key financial services, retail, telecommunications, and manufacturing sectors are served by the firm.
THOMSON REUTERS CORPORATION PTE. LTD.
Thomson Reuters Corporation was established in Singapore in 1996. It is the Asian arm of the Canadian multimedia news provider Thomson Reuters. The firm publishes news in over 16 languages and reaches billions of people worldwide on a daily basis. The company offers content in the form of unique news stories, news alerts, video stories, investigative reports, expert views, pictures, and images. Reuters news publishes for TV broadcasters, media customers, and publishing clients in several genres. Sports, Science, Business & Finance, Politics, Environment, Health, and Entertainment & Lifestyle, are just a few of the topics covered by Reuters.
REFINITIV ASIA PTE. LTD.
Based in the UK, Refinitiv provides financial markets data and infrastructure. It is the parent firm of Singapore-based Refinitiv Asia which was incorporated in 1997. For the financial industry, Refinitiv publishes news content. Its financial news service combines access to Reuters News with thousands of international sources, thereby providing readers with information they would not be able to obtain anywhere else. Refinitiv Newscasts provide a variety of business news and multimedia content – both video and audio – from Reuters and other trusted partners, such as Real Vision and CNBC.
TOPPAN LEEFUNG PTE. LTD.
Repeated as per client
TAKE-TWO ASIA PTE. LTD.
Repeated as per client
BLOOMBERG SINGAPORE PTE. LTD.
Bloomberg is a global distributor of financial data and a news provider based in the USA. Bloomberg Singapore was incorporated in 2018 to bring the business of its parent firm to the Asia-Pacific region. The company provides its clients with access to the corporate world, helping global customers make critical financial decisions through Bloomberg’s premium content, which ranges from news feeds and video packages to reprints, data, and more. The media firm publishes business and financial news across several platforms including Bloomberg Terminal, Bloomberg.com, Bloomberg Television, Bloomberg Radio, Bloomberg Mobile, and Bloomberg Businessweek, in every time zone.
SPRINGER NATURE SINGAPORE PTE. LTD.
Springer Nature Group is a German-headquartered research, educational and professional publisher. The global firm launched its branch Springer Nature Singapore in 2011.Springer has the largest single published collection with over 2900 journals of STM, humanities, and social sciences publications. Springer’s content such as books, e-books, and archives provides an unparalleled resource for academia, scientific institutions, and corporate R&D departments for their scientific and scholarly research. A Springer e-book typically obtains 8,800 downloads in its first year and 40 citations over the course of its first four years.
Top Singapore Large Local Enterprises in Publishing
SINGAPORE PRESS HOLDINGS LIMITED
Repeated as per client
IGG SINGAPORE PTE. LTD.
Repeated as per client
THE SMART LOCAL PTE. LTD.
The Smart Local was incorporated in Singapore in 2013. The company has since grown from a small blog into one of the most influential online media publishers in the island. Locals rely on TheSmartLocal for hyperlocal advice on things to do both inside and outside of Singapore. The news network has substantial followings across the five biggest digital platforms in Singapore, including YouTube, Facebook, Instagram, Telegram, and TikTok, in addition to its website publications and excellent search engine rankings. TheSmartLocal provides a one-stop service to clients with not only local but also international content of different genres, featuring several locations such as Australia and Japan.
GARENA ONLINE PRIVATE LIMITED
Repeated as per client
TIMES PUBLISHING LIMITED
The Times Publishing Group was incorporated in Singapore in 1968 as Times Publishing Limited. In 2004, the publishing division of the Group underwent a name change to Marshall Cavendish, and the new corporate brand logo was unveiled. Whether its clients are government agencies, private firms, or individual creators, Times Publishing offers a comprehensive suite of custom publishing services for any creative project. Over the years, the firm has produced more than 500 publishing projects for its clients in several genres, including educational textbooks in both print and digital formats.
WORLD SCIENTIFIC PUBLISHING CO PTE LTD
Established in Singapore in 1981, the World Scientific Publishing company – an academic publisher across the globe and an international scientific publisher in the Asia-Pacific region – has offices in New Jersey, London, Hong Kong, Taipei, Munich, Geneva, Tokyo, Beijing, Shanghai, Tianjin and Chennai. In different sectors, World Scientific publishes 160 journals and roughly 600 new titles per year. There are almost 12,000 titles that World Scientific has released. Many of its publications have been selected as required reading by prestigious universities such as Harvard University, California Institute of Technology, Stanford University and Princeton University.
MYTONA PTE. LTD.
Repeated as per client
KHL PRINTING CO. PTE LTD
Repeated as per client
UNIVERSAL WISER PUBLISHER PTE. LTD.
Founded in Singapore in 2018, Universal Wiser Publisher (UWP) promotes free scientific interaction, and uses its journals as platforms to distribute information to advance academic research on a variety of subjects. Journals published by UWP include research articles, reviews, or any other content that covers comprehensive topics such as natural pharmacology, engineering, biochemistry, economy, materials, education, mathematics, computer science and food, among others. All the content on the UWP platform is fully accessible and available to everyone free of charge, so as to maximize the benefits to readers, authors and editors.
Top Singapore SMEs in Publishing
FORTUNE TIMES PTE. LTD.
Fortune Times is a Singapore-based Chinese business magazine which was established in 2004. The company has developed and transformed itself from traditional media in the new media age through integrated multimedia platforms dedicated to providing business news and content via magazines, online content, social media, conferences, publications, and video programmes in Southeast Asia – mainly, Singapore, Hong Kong, Malaysia and Indonesia. Fortune Times’ primary focus is on exploring business phenomena and featuring current market leaders that shape their respective industries, as well as identifying future trends.
MAKANSUTRA (S) PTE LTD
Founded in 1997 and headquartered in Singapore, Makansutra (S) is a company that celebrates and promotes food culture through its food guides, online content, eateries, specialized events, projects, and TV shows. Since the publication of its first food guide in Singapore, the firm’s published work has covered various countries in Asia, including China, Thailand, Indonesia and Malaysia. By the year 2017, the firm published the 10th edition of the Makansutra Food Guide Singapore. The food news on Yahoo! Singapore is also powered by Makansutra.
HONEYCOMBERS PTE. LTD.
Incorporated in 2008 in Singapore, Honeycombers is a production company which publishes video content and live events on its digital lifestyle platform. Over the years, the firm has expanded to Hong Kong and Bali. The editorial content on the site covers Asia’s booming travel, F&B, and hospitality industries. Additionally, Honeycombers is continually working to provide its readers with updated information on sanity-saving vacations, family-friendly dining options, and how to pick the best school for their children, through its parenting and lifestyle platform HoneyKids.
REVOLUTION MEDIA PTE. LTD.
Singapore-headquartered Revolution Media was founded in 2004. It has provided some of the best watch-related content to readers globally since its first magazine was published in March 2005. With a prominent position in print publishing, Revolution took a step to build its digital platform and expanded into e-commerce. The company now collaborates with the most renowned and intriguing watch brands to publish content about new, used, and vintage watches, in addition to special edition watches. These publications are in the form of videos, podcasts, or stories, that include technical specifications of the products, customer reviews, news of the company’s auctions, and more.
ASIAPAC BOOKS PTE LTD
Established in 1983, Asiapac Books is an independent publisher of educational material and illustrated books in Singapore. The company works in collaboration with schools, non-profit organizations, and institutions to produce high-quality content and publications – including books in many genres, mainly philosophy, history, literature, and culture. Asiapac's titles also include non-Asian themes, and can be accessed via multiple formats on various platforms. Its works are adopted for translation by more than 30 publishing partners in 20 countries. Asiapac Books has created many award-winning publications as the distribution partner for Architecture and Sustainable Design (ASD) at the Singapore University of Technology and Design (SUTD).
EYOU TECHNOLOGY PTE. LTD.
Repeated as per client
FLAME OF THE FOREST PUBLISHING PTE LTD
Singapore-based publishing company, Flame Of The Forest Publishing, was established in 1989. Books published by the firm are popular among readers not only in Singapore but also across Southeast Asia. The company's publications cover a variety of genres, such as non-fiction books, horror-fiction series for children, Asian folk tales retold with award-winning illustrations, and more. Flame Of The Forest is also known for its publication‘Hello Chok Tong, Goodbye Kuan Yew’, written by a popular political cartoonist. The book took a swipe at Singapore’s politicians and the lifestyle of its locals, and became the fastest-selling title after distributing 40,000 copies in just two months.
APD SINGAPORE PTE LTD
Founded in 1990 and headquartered in Singapore, APD Singapore is a publisher agent and independent book distributor across ASEAN, South East Asia, the UK, and the US. APD has a presence in Kuala Lumpur as well. A specialized academic section and a general trade division, which is in charge of the bulk of the non-fiction adult and children's material, are responsible for APD's sales across the majority of the key publishing sectors, including schools, academics, and trade. APD represents both local and international publishers including Hodder Education, Collins Education, NUS Press, Epigram Books, and more.
SHING LEE PUBLISHERS PTE LTD
Incorporated in Singapore in 1935, Shing Lee Publishers is a publisher of educational books, interactive books, and digital platforms. Shing Lee’s books are available island-wide and are exported to more than 40 countries across the globe. It publishes MOE-approved curriculum content which is available in both print and digital formats. Shing Lee’s textbooks cater to pupils of varied academic ability and are adopted widely. As part of its enhanced resource system, teachers and pupils are able to access educational multimedia content using the firm’s digital learning platform and learn from any location.
E.W. LINER CHARTS AND PUBLICATIONS PTE LTD
Established in 1995, EW Liner Charts & Publications is an International ADMIRALTY Chart Agent, and one-stop supplier for its clients’ navigation-related requirements in Singapore. EW Liner provides the maritime industry with flags, safety signs, nautical stationery, e-navigation solutions for use on the back of the bridge, and charts and publications in both digital and paper formats. Paper charts and pamphlets are also offered by EW Liner. Its paper chart offerings include ADMIRALTY Paper Charts which are printed on demand and are available in the company’s offices in Singapore, India, Dubai and Sri Lanka.
Top 10 Fastest-Growing Publishing Companies in Singapore
INK PUBLISHING PTE. LTD.
Headquartered in the UK, Ink Publishing is a travel media firm which extended its reach to Singapore in 2005, as part of an expansion of its business across Asia. Ink Publishing creates and delivers award-winning content for airlines, railways, travel companies, and their passengers, by producing magazines in different languages. Through inflight publications, video, and online content, Ink's travel media connects brands, advertisers, and marketers to a highly receptive and authentic global audience. Some of the travel media brands and airlines Ink Publishing works with include United Airlines, Virgin Atlantic, and Singapore Airlines.
GARENA ONLINE PRIVATE LIMITED
Repeated as per client
BUSINESS MONITOR INTERNATIONAL (ASIA) PTE. LTD.
Incorporated in Singapore in 2008, Business Monitor International (Asia) is part of BMI Research, UK. BMI Research was acquired by Fitch Group and is now part of Fitch Solutions. It publishes reports that provide in-depth data and research that support clients with the enhancement of their growth strategies and risk assessment. Business Monitor International (Asia) provides global coverage of more than 20 industries, with detailed analysis of business environment risks and comparable data evaluation. Its publications and webinars incorporate the impact of geopolitical risks, industry trends, and new technologies.
SONY MUSIC PUBLISHING (PTE) LTD
Sony Music Publishing is a music publishing company headquartered in the USA with a network of 38 offices across the globe. It incorporated Sony Music Publishing in Singapore in 1989, to promote Asian songwriting talent, enhance the firm’s existing roster, deliver new music to its audiences, and take Asian music global. With regard to synchronization, administration, cinema, television, and production of music, Sony Music Publishing offers a comprehensive array of services to its composers and catalogues. It also plays a significant role in the promotion of songwriter rights.
THOMSON REUTERS CORPORATION PTE. LTD.
Thomson Reuters Corporation was established in Singapore in 1996. It is the Asian arm of the Canadian multimedia news provider Thomson Reuters. The firm publishes news in over 16 languages and reaches billions of people worldwide on a daily basis. The company offers content in the form of unique news stories, news alerts, video stories, investigative reports, expert views, pictures, and images. Reuters news publishes for TV broadcasters, media customers, and publishing clients in several genres. Sports, Science, Business & Finance, Politics, Environment, Health, and Entertainment & Lifestyle, are just a few of the topics covered by Reuters.
ASIAN GEOGRAPHIC MAGAZINES PTE LTD
Asian Geographic Magazines was incorporated in 2001. The company publishes geographic magazines containing articles on geography, culture, heritage, society, environment, exploration, conservation, and art. With its base in Singapore, the team is focused on Asia, exploring the continent’s landscapes and travel destinations, environmental issues, and more, to provide readers and viewers with compelling news and images. Asian Geographic Magazines publishes a variety of publications, including its flagship publication Asian Geographic, as well as the print editions of Asian Diver and Scuba Diver, and the online edition of UnderWater360.
WILDTYPE MEDIA GROUP PTE. LTD.
Incorporated in 2012, Singapore-headquartered Wildtype Media Group is a STEM and healthcare media company. It has around 12 publication offices across the globe. The company works in close collaboration with clients to develop a range of editorial products such as books, magazines, videos, and white papers. Wildtype Media caters to some award-winning brands including Asian Scientist Magazine, which is a science and technology publication that highlights R&D news stories from Asia to a global audience. A division of Wildtype Media, Wildtype Books is an independent publisher of children's books, biographies, and popular science books.
NORTHSTAR TRAVEL MEDIA SINGAPORE PTE. LTD.
Incorporated in 2014, Northstar Travel Media Singapore is a business journalism firm that provides information and marketing solutions for the travel sector. Its parent firm Northstar Travel Group, which is based in the USA, is a B2B information, business intelligence, commerce, and events platform that serves the global travel and meetings industry. The firm publishes its content online, in print, and through recorded interviews. These publications include news articles, opinion pieces, research studies, and marketing programmes. Northstar has invested millions in strategizing, producing, and delivering content experiences for its audiences, partners, and advertisers. The company utilizes its media content across its family of sites, webinars, and education platforms.
ARGUS MEDIA SINGAPORE GROUP PTE. LTD.
Headquartered in the UK, Argus Media Group is a firm that publishes RSS (Rich Site Summary) news feeds, podcast series, reports, and articles related to price assessments and analysis of international energy and other commodity markets. Additionally, the firm offers bespoke consulting services and organizes industry-leading conferences. It is the parent firm of Argus Media Singapore Group, which was incorporated in Singapore in 2013. The firm is focused on publishing reports that include key industry indices and benchmark prices for products within the Asian markets and across the globe.
DUN & BRADSTREET (SINGAPORE) PTE. LTD.
With its operations based in the United States, Dun & Bradstreet made a decision to extend its reach across the globe to Singapore in 2000, with the incorporation of Dun & Bradstreet (Singapore). The company offers commercial data, insights, and analytics for businesses. It provides a comprehensive range of publications for professionals in the spheres of risk and financial analysis, sales and marketing, and operations and supply, as well as research and insights on global business issues. Government clients as well as those in the communications, technology, key financial services, retail, telecommunications, and manufacturing sectors are served by the firm.