The global Yellow Pages industry has more listed companies
today than ever before, which provides a useful set of data
for tracking the progression of the industry across a range
of metrics. For this Advisory, The Kelsey Report® looked
at a select group of companies that are reporting results
publicly to assess the state of these and other key measures
at the midpoint of 2004. These data will help paint a picture
of the health and well-being of the directories industry
at least at the larger end of the publisher spectrum
and provide a baseline for measuring the business in the future.
examines the recent public filings of Dex Media, R.H. Donnelley,
Telefonica Publicidad e Informacion (TPI), Yell Group, PagesJaunes,
Eniro, Findexa, Yellow Pages Group and others. The results
in general paint a picture of an industry that is struggling
for print growth, while having mixed success attracting advertisers
to the Internet. Publishers are focused on increasing penetration,
and more than a few are seeking new core product innovations
to reach more accounts with their profitable printed products.
Online strategies are all geared toward responding to the
threat from search, while expansion efforts have thus far
produced mixed results.