Phoenix Publishing and Media Company is the largest publishing group in China. Its subsidiary, Phoenix Publishing and Media, Inc., has been listed in the Shanghai Stock Exchange since 2011. The group includes nine publishing houses, seven publishing companies, 66 chain bookstores, and printing facilities. The group publishes over 20,000 titles annually, 9,647 of which were new titles in 2014, and has a staff of 12,758.
Founded in 2001 and initially known as Jiangsu Publishing Group, it changed its name to Phoenix Publishing & Media Group in 2004.
Analysis & Key Developments
Phoenix ended fiscal 2014 with growth in corporate and publishing revenues. On the corporate side, sales increased from 18.5 billion CNY to 21.6 billion CNY. Revenue from publishing was 17.61 billion CNY in 2014, compared with 16.93 billion CNY in the previous year.
Phoenix agreed to buy the children’s publisher Lincolnwood from Illinois-based Publications International Ltd. in May 2014. The deal included a catalogue of more than 1,000 titles and was the first major international acquisition by a Chinese publishing group. Lincolnwood’s existing management and staff are expected to continue. At the time of a failed sale in 2008, Lincolnwood’s worth was estimated at 163 million USD.
Phoenix’s international publishing is under London-based Xanadu Publishing, Ltd, which published 30 titles in 2014. An Australian branch of Xanadu was launched in Melbourne in 2014.
Yilin Press, an imprint of Phoenix, started a partnership with Compendium in the UK. Phoenix’s presence in London began in 2012.
In 2009, Phoenix embarked on a 51% joint venture with Hachette Livre called Hachette Phoenix Cultural Development.
Phoenix’s digital revenues were 610 million CNY in 2014, compared with 400 CNY in the previous year.
Phoenix Group accelerated its digital transformation in 2013 by extending multilateral distribution for its database projects and advancing the integration of its entire digital value chain. Sales were doubled to 400 CNY.
In 2011, Phoenix-Tangel New Media Co was launched to specialize in digital publications and games, with PP&M holding 51%. Phoenix-Tangel reported revenues of 80 million CNY in its first year of operations.
Phoenix is fully listed in this ranking for the first time, as information has been made available through cooperation with BookDao, the Chinese independent publishing industry news service. Financial figures for 2012 have been restated, as more accurate information was made available.