Oct 15, 2023 07:00:00

What are the roots of 'fonts' and the history of the 'font business'?

Fonts are something we always see in our daily lives. This applies not only to text on the internet, but also to road signs, store signboards, and text designs on shirts. While font design is often done by individual designers, it is monopolized by

Monotype, which has 45,000 designers selling fonts. The history of font design and font business is summarized by The Hustle, an overseas media outlet.

Where do fonts come from? This one business, mostly - The Hustle
https://thehustle.co/where-do-fonts-come-from

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According to The Hustle, the original font dates back to the printing press invented by German printer Johannes Gutenberg in 1440 to mass-produce the Bible. Over the next few centuries, new types and fonts were born as each new foundry imitated Gutenberg's printing press.

Later, Monotype appeared in the font business at the end of the 19th century. Tolbert Langston, founder of Monotype, invented the 'type casting machine' to improve the speed and efficiency of type production. Over the next few decades, Monotype developed popular typefaces with branches in the United States and the United Kingdom.

From the late 19th century to the late 20th century, the font industry was in a constant state of instability, with frequent mergers and acquisitions. In 1892,

the American Type Founders, a business trust, was created by merging 23 businesses that accounted for approximately 85% of the type produced in the United States at the time. By this time, mechanized processes such as Monotype's typecasting machine had disappeared, replaced by phototypesetting, which created a block by printing on photographic paper or film, and digital typesetting, which then displayed the font on a screen.

Monotype endured financial difficulties and reorganization until it was acquired by TA Associates, a Boston private equity fund, in 2004. As a result, Monotype went public, and its annual revenue increased from $107 million (about 16 billion yen) in 2010 to $247 million (about 34 billion yen) in 2018. In 2006, we acquired Linotype, a major competitor from the 19th century, with approximately 6,000 typefaces, in 2010 we acquired digital typeface foundry Ascender Corporation, and in 2014 we acquired 250,000 typefaces. By acquiring FontShop, which owns the above typefaces, we will continue to grow our power.

In 2019, private equity fund HGGC acquired Monotype, allowing customers to access a large number of fonts by signing a license agreement with one company. On the other hand, one font designer commented, ``This acquisition felt like a kraken eating away at the industry,'' and as font handling platforms have become monopolized, it has become a difficult situation for designers. Masu.

Regarding the changed font business market, Jerry Leonidas, a typography researcher at the University of Reading in the UK, says, ``A market where there is one very large company and many small companies is not a healthy market. This is inherently anti-competitive and makes it difficult for alternative models to grow.'

Monotype's sales share is 50% taken by the site as a commission, and the remaining 50% distributed to the designer. Monotype focuses on handling font infringement issues, and has been of great benefit to many designers by helping them with areas that are difficult for individuals to handle. Monotype also announced plans to introduce a subscription model to the way it sells fonts, allowing customers to earn more licenses by paying a subscription fee, and each time a font is used, designers 'You can earn money,' said Mary Katherine Pflug, director of Monotype.

However, Leonidas points out that because Monotype exclusively owns popular licensed fonts, ``we are in a position to benefit disproportionately from subscriptions.'' Some font designers also told The Hustle that they are concerned about the shift from traditional contracts with clear payments for each sale to a subscription format that relies on Monotype's internal calculations. is talking about.