Directory and Mailing List Publishers

The US directory and mailing list publishing industry includes about 1,100 companies with combined annual revenue of about $20 billion. Major companies include RH Donnelley, Idearc, Acxiom, and infoGROUP. The industry is highly concentrated: the 50 largest companies account for more than 90 percent of industry revenue.

The industry includes companies that publish phone directories and mailing lists used for marketing. Most phone directories are printed; lists are generally delivered online.

COMPETITIVE LANDSCAPE

Demand for directories is driven by local population growth and local ad spending; demand for mailing lists is driven by corporate profits and spending on marketing. The profitability of individual companies depends on efficient operations and new customers. Large companies have advantages in supplier negotiations and in serving multiple markets; small companies compete by targeting niche or specialized markets.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major products include printed directories (the majority of industry revenue) and mailing lists. Other products include database subscriptions, both via print and the Internet. While online directory use is growing, most consumers still use print phone directories.

Directory companies publish printed white and Yellow Pages listings, generally in one directory; in large markets, separate white and Yellow Pages directories are published. State public utility commissions require local exchange carriers (LECs) to produce white page directories for all consumers and businesses, called incumbent markets. Companies also provide directories in expansion markets, markets where another publisher has the incumbent relationship with the local phone ...