"Reed says internet sales will hit $5 billion in four years"
by Nic Hopkins, in the Times (London)
REED ELSEVIER expects to double its internet sales to more than $5 billion (£2.9 billion) within the next few years, according to Sir Crispin Davis, its chief executive.
He said that growth was being fuelled by the rapid migration of business on to the internet, particularly business publications such as Variety, the Hollywood trade publication, and Computer Weekly.
“Five years ago our online business was zero, and today we do about 27 per cent of our annual turnover over the internet or more than $2.5 billion, which makes us one of the biggest online businesses in the world,” Sir Crispin said.
“Within the next three or four years that will grow to around half of our business, which by then will mean more than $5 billion,” he added.
Sir Crispin said that the perceived threat posed by free access to scientific research, such as through Google Scholar, had not materialised and instead Reed was more often to be found working with the website. “We’re working with Google in a number of areas, particularly business-to-business. Google brings its size and we bring our content,” he said.
Read the rest of the article: http://business.timesonline.co.uk/article/0,,8209-1712283,00.html
Posted by at August 3, 2005 4:41 PM