McIlroy--Are We in Worse Shape Than Anyone Thinks?

According to NAPL's Printing Manager magazine, only 5 percent of the $80 billion U.S. commercial printing industry is estimated to be consolidated. "When Wall Street analysts consider the consolidation of a fragmented industry," the report states, "they talk about the 'Rule of Three,' a business theory stating that, in most competitive markets, three large companies will continue to evolve to control 70 percent to 90 percent of the market, while all the other companies remain small niche players. If this were to take place in commercial printing, three large firms with annual sales of $20 billion to $25 billion would dominate the industry—a very different industry than we have today."