City Life Org – Mayor’s Office of Media and Entertainment Conducts First Economic Analysis of NYC Publishing Industry

Industry generates $34 billion in total economic output, study shows

Outlines recommendations and current city-led initiatives to address inequality and support industry growth and recovery

The Mayor’s Office of Media and Entertainment (MOME), whose creative industries portfolio expanded in 2016 to include New York City’s historic publishing industry, today announced the results of the 2022 New York City Publishing Economic Impact Study. Groundbreaking analysis details the industry’s continued importance and contribution to New York City’s creative economy.Most notably, in 2020, the industry supported a total 95,000 jobs, $11 billion in wages and $34 billion in economic output. The full report is available here.

“As this research demonstrates, the publishing industry has long been the crown jewel of New York City’s creative industries, and supporting this economic engine is a core strategy on this administration’s agenda,” said Deputy Mayor Maria Torres-Springer. “We look forward to continuing to work with the publishing industry to ensure they remain future-focused, inclusive and supportive of local businesses and talent.”

“We are proud to launch the 2022 Publishing Economic Impact Study, the first comprehensive assessment of the industry’s role in our city’s economy, workforce and culture,” said Anne del Castillo, Media and Entertainment Commissioner, Office of the Mayor of New York City“New York City has been and continues to be a global center for publishing and literature, home to the ‘Big Five’ and largest magazine and newspaper outlets, and a strong community of talent, independent booksellers, distributors and associations. This Research will help inform our work to strengthen the sector as an important contributor to the city’s creative economy.”

This study defines the publishing industry as consisting of four sectors: publishers, talent (content creators), print production, and distribution and consumption. Data from 2010-2020, which includes the entire calendar year of 2020 and therefore reflects the impact of the COVID-19 pandemic, were assessed to determine totals. An additional assessment through June 2021 is used to more closely assess the impact of the pandemic on the industry.

Highlights and recommendations of the study include:

About employment:

• Total industry employment falls -2.8% between 2010 and 2020, {p. 7} This may be attributed to the high local cost of living, the rapid digitization of media, the growth of e-commerce, and the pandemic reduction in in-person events and book fairs. {p. 56}
• Job growth in the talent sector A 4.8 percent increase and a 60 percent increase in overall size demonstrate New York City’s continued resilience as a literary center with strong networking opportunities, trade associations and educational programs. {p. 23}
• 75% in the publisher segment (including print and digital media) 81% of direct employment and direct wages across the industry.
• Publishing employment falls in four U.S. benchmark cities, New York (-3.2%), San Francisco (-4.4%), Pittsburgh (-7.2%) and Boston (-7.4%), showing that the industry’s decline is national. {p. 60}
• Internet publishers, a subsector of the publishers sector, saw employment increase Between 2010 and 2020, the number of employees grew from approximately 300 to 1,700 employees, an average annual growth rate of 19% as computers, smartphones, and wireless infrastructure became more prevalent across the country due to demand for virtual content . {p. 30}
• Internet publisher job growth doesn’t offset annual average decline Employment among periodical (-5.9%) and newspaper (-2.1%) publishers 2010-2020 is due in part to the fact that management of online publications is more standardized than print publications and requires fewer staff. {p. 8 & 30}

About Equity and Diversity:

• 51% of publishing industry employees are women, indicating a 3%-4% increase between 2010 and 2020, in line with the New York City average (52%), indicating the industry’s utilization of New York City’s strong female talent pool. {p. 33}
• The proportion of non-white employees in the publishing industry is 30%, well below the New York City average of 53 percent, suggesting the industry needs to do a better job of recruiting and retaining talent from the city’s diverse workforce. {p. 33}

About salary:

• All industries experienced wage growth The average annual growth rate from 2010 to 2020 is 2.6%. {p. 24}
• Median annual salary for publishing workers is $122,000, above the city’s overall average annual wage of $99,000. {page 24}
• Average annual wages include a range of wages From $30,000 (newsprint mill) to $172,000 (news syndicate). {p. 25}

Suggest:

• Advocate for independent bookstores. MOME partnered with the New York City Department of Small Business (SBS) to launch the “Rediscover Your Local Bookstore” campaign as part of NYC & Company’s “All in NYC” holiday shopping campaign. 2022 Updated Independent Booksellers List Available now, and the event is now live digitally on billboards across New York City.
• Support local media publishers. MOME with Community Media Center Delivers a sustainability training series and various workshops at the CUNY Craig Newmark Graduate School of Journalism aimed at empowering journalists and publishers in communities of color and immigrant communities, with a particular focus on developing digital skills.
• Support local talent. MOME offers free and discounted workspace through Freelance Centerofficially opened its new location in Industrial City this year.
• Ensure equal access to education. MOME support PEN America Dreaming LoudTuition-free writing workshops for young immigrant writers, primarily those who came to the US as children undocumented and/or DACA recipients. Funding from the program has allowed it to establish new workshop locations at Lehman College in the Bronx, Medgar Evers College in Brooklyn and Queens College.
• Facilitates connections among publishing stakeholders in New York City. Explore partnerships with the Pulitzer Prize Committee, National Book Awards, and National Magazine Awards (the Ellie Awards) to highlight and connect New York City publishing businesses, artists, and small literary organizations.
• Promote New York City as a literary hub. Partner with the New York State Council on the Arts (NYSCA) to promote and share the New York City Literary Map in public libraries, public transit, and other public spaces.
• Promote New York City as the Book Capital of the World. Applying for New York City to become the first United States UNESCO World Book Capital will help increase access to books, promote freedom of speech and expression, and facilitate the expansion of public libraries.

Constantly redefining itself in the face of change, New York City’s publishing scene has played a major role in making New York City the creative capital of the world. Magazines, newspapers and books in print and digital formats keep us informed and entertained during our city’s darkest hours and most difficult times, as recently experienced during the COVID-19 pandemic. They also inspire and unite New Yorkers in moments of reflection and celebration. This research comes at a pivotal time for New York City to recover from the pandemic and find new, inclusive and innovative ways to support this thriving industry.

“As a former commissioner of the Mayor’s Office of Media and Entertainment, I’m proud to see our city supporting the publishing industry and stepping up efforts to keep it thriving. Our literary centers generate billions in wages, Thousands of jobs and much-needed creativity have made New York City the cultural center of the world. Publishing the findings of the impact study and announcing new initiatives will ensure the continued success of the publishing industry in our city’s economy, culture and history,” said Council member Julie Menin.

“We should all be proud to see these strong numbers for our publishing industry,” said New York City Council Member Chi Osse, Chair, Cultural Affairs Committee“The report also details areas where the industry can improve, such as diversity metrics and wages at the lower end, and we are enthusiastic about MOME’s recommendations, which we believe will mitigate some of these shortcomings while positioning publishing as a strength and grow in the years to come.”

“Founded in 1985, Pace University’s Master of Publishing program has long been a leader in diversity, equity and inclusion initiatives, and our motto is opportunity. We offer an outstanding publishing education, with essential scholarship, internships, mentorship and Industry connections to ensure students’ future success.This encouraging and well-researched report on the publishing industry confirms New York’s central role in the publishing industry and identifies not just growth opportunities, but city initiatives in areas including education opportunities to support the industry on many levels, including Manuela Soares, Director of the Publishing Master’s Program at Pace University.

“While we intuitively know that the publishing industry is an important driver of New York’s vibrancy and prosperity, it is very powerful to see that impact measured and quantified. Thank you MOME for bringing attention to the role publishing plays in our city and our region important role and thank them for their ongoing advocacy on behalf of the entire literary ecosystem,” said Ruth Dickey, Executive Director, National Book Foundation.

About the 2022 Publishing Economic Impact Study
The Mayor’s Office of Media and Entertainment (MOME) regularly conducts research to increase understanding of and support growth in New York City’s creative economy sector. As part of this work, MOME launched this publishing industry study in February 2022. The study assesses core sectors of the publishing industry – ranging from content generation to consumption of books, newspapers and periodicals – according to their characteristics and economic impact. The research also provides recommendations for strategic policies, investments, and services that may contribute to the continued recovery of New York City’s publishing ecosystem.

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