An apparatus for forming bundles of printed products includes a lift element that moves vertically inside a holding area. The printed products are deposited on the lift element when the lift element is in an upper position. The lift moves the deposited printed products downward into the holding area so that the printed products are in position to subsequently be compressed into a bundle by pressing the printed products with an upward movement against a pressing element. The lift transports the compressed bundle to a lower position in the holding area where the lift element moves out of the holding area to a position in which the bundle is released to drop onto a support element. The lift element thereafter is moveable from the lower position to the upper position for the depositing of additional printed products. An ejection element conveys the compressed bundle out of the holding area.