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我国出版传媒行业投资分析报告

文章摘要

十八大报告指出,文化产业要成为国民经济支柱性产业。出版产业作为传统的文化产业,有其自身的发展特性。本文介绍了出版产业概况,对出版产业的特性、盈利模式、功能价值和主要风险进行了分析。建议在对出版产业投资时保持谨慎态度,回避单纯的报纸、杂志出版领域投资以及业务领域单一、无教育出版业务的出版社。推荐关注拥有全产业链、内容生产创新能力较强、下游发行环节完善、转型战略可行,且当地人口基数、教育水平和经济发展水平较好的地方性出版集团。

Abstract

The reports of 18th CPC National Congress point out, that the cultural industry will become the pillar industry in national economy. As a traditional cultural industry, publishing has its own characteristics and development trends. This paper introduces the general situation of publishing industry, and analyzes its characteristics, profit model, function value and main risks. We suggest investors keep cautious on publishing industry's investment, to avoid investing in traditional newspaper, magazine, and the press relying on one single business area and without educational publishing business. We recommend paying attention to those local publishing groups that own the whole industry chain, have strong innovation ability on content production, have well established distribution link and feasible transformation strategy, and are located in the place where holds larger local population, higher education level and better economic development.
作者简介
涂俊:管理学博士,CFA,高级经济师,中国建银投资有限责任公司研究中心高级经理,现任中国建投投资研究院副研究员
高彦如:清华大学金融学硕士,中国建投投资研究院高级副经理。主要研究方向为宏观经济、金融市场、资产管理。参编11部《中国投资发展报告》,参与编著《资管新时代——从野蛮生长到高质量发展》《东单耕录:2014~2017年资本市场见闻》《挖掘价值——中国直接股权投资案例》《投资新视野Ⅱ:养老服务》《柯达兴衰启示录》《中外国有企业治理比较研究》等多部财经领域专业著作。