TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET SEGMENTATION I 11
MARKET SEGMENTATION II 12
FIVE FORCES ANALYSIS 13
Summary 13
Buyer power 15
Supplier power 17
New entrants 18
Substitutes 20
Rivalry 21
LEADING COMPANIES 22
Axel Springer AG 22
Bertelsmann AG 26
Verlagsgruppe Georg von Holtzbrinck GmbH 30
MARKET FORECASTS 32
Market value forecast 32
MACROECONOMIC INDICATORS 33
APPENDIX 35
Methodology 35
Industry associations 36
Related Datamonitor research 36
Disclaimer 38
ABOUT DATAMONITOR 39
Premium Reports 39
Summary Reports 39
Datamonitor consulting 39

LIST OF TABLES
Table 1: Germany publishing market value: $ billion, 2005–09(e) 10
Table 2: Germany publishing market segmentation I:% share, by value, 2009(e) 11
Table 3: Germany publishing market segmentation II: % share, by value, 2009(e) 12
Table 4: Axel Springer AG: key facts 22
Table 5: Axel Springer AG: key financials ($) 23
Table 6: Axel Springer AG: key financials (€) 23
Table 7: Axel Springer AG: key financial ratios 24
Table 8: Bertelsmann AG: key facts 26
Table 9: Bertelsmann AG: key financials ($) 27
Table 10: Bertelsmann AG: key financials (€) 28
Table 11: Bertelsmann AG: key financial ratios 28
Table 12: Verlagsgruppe Georg von Holtzbrinck GmbH: key facts 30
Table 13: Germany publishing market value forecast: $ billion, 2009–14 32
Table 14: Germany size of population (million), 2005–09 33
Table 15: Germany GDP (constant 2000 prices, $ billion), 2005–09 33
Table 16: Germany GDP (current prices, $ billion), 2005–09 33
Table 17: Germany inflation, 2005–09 34
Table 18: Germany consumer price index (absolute), 2005–09 34
Table 19: Germany exchange rate, 2005–09 34

LIST OF FIGURES
Figure 1: Germany publishing market value: $ billion, 2005–09(e) 10
Figure 2: Germany publishing market segmentation I:% share, by value, 2009(e) 11
Figure 3: Germany publishing market segmentation II: % share, by value, 2009(e) 12
Figure 4: Forces driving competition in the publishing market in Germany, 2009 13
Figure 5: Drivers of buyer power in the publishing market in Germany, 2009 15
Figure 6: Drivers of supplier power in the publishing market in Germany, 2009 17
Figure 7: Factors influencing the likelihood of new entrants in the publishing market in Germany, 2009 18
Figure 8: Factors influencing the threat of substitutes in the publishing market in Germany, 2009 20
Figure 9: Drivers of degree of rivalry in the publishing market in Germany, 2009 21
Figure 10: Axel Springer AG: revenues & profitability 24
Figure 11: Axel Springer AG: assets & liabilities 25
Figure 12: Bertelsmann AG: revenues & profitability 29
Figure 13: Bertelsmann AG: assets & liabilities 29
Figure 14: Germany publishing market value forecast: $ billion, 2009–14 32