From Anne R. Allen’s Blog… with Ruth Harris:
Well, to say a lot happened in publishing last year is a severe understatement.
Simon and Schuster Merger that Wasn’t
Among the legal news, the biggest merger in publishing history — Penguin Random House’s proposed acquisition of Simon and Schuster, aka the antitrust trial — got nixed by the courts. And PRH ended any speculation that a merger would happen after that, basically taking it off the table.
S&S’s parent company reinforced that they are still looking for a buyer. HarperCollins and Hachette are being thrown around as potential suitors. But S&S may also end up with a private equity firm who sells off parts of the business to turn a profit (man, I hope this doesn’t happen!).
Digital Content Law
Publishers successfully challenged Maryland’s Digital Content Law that sought to force publishers to license ebooks and audiobooks on “reasonable terms” for library lending. And two longshot lawsuits against Amazon and the Big Five for price fixing were thrown out (mostly) by a judge.
And book banning went into overdrive, no pun intended, in 2022. I don’t understand it. If you don’t like a book, don’t read it. But don’t tell me what I can or cannot read. If you don’t like what your kid’s teacher is assigning, talk to the teacher.
But to statewide ban a book because its ideas scare you or it has a picture of a naked comic animal (yes, Maus was banned because of that), the problem might be you instead of the book. Ahem.
But there was good news as well. Sales for print books, digital books and audiobooks continued on pace with the great sales of the prior two years. With an especially long week before Christmas, sales skyrocketed to end the year on an up note. In the final sales week of the year, NPD BookScan recorded print sales of approximately 16.3 million units, which was well ahead of previous years.
However hardcover sales declined more than 10% to just below 2020 figures, and print books in total were down 6.5% from the prior year, so that might affect the total revenue for publishers. (Note that these figures only go up until October 2022, so we might still end the year even or down a bit from the previous year’s sales. I’m not worried, however.)
. . . .
Now on to my Publishing Predictions for 2023:
Book sales will stay even or just a bit less than prior years. I don’t see a lot of changes happening in 2023 as compared to 2024.
Audiobooks will continue to sell well. People like them. They both read and listen to books. I see tremendous upside still in this market.
Supply chain issues will level out as new solutions are found, so that will cease to be as much of a problem for publishing as it has been since 2020. If this happens, publishing will not be so nervous about slipping publication dates and the inability to resupply if a title sells surprisingly well.
Paper Prices Advance Digital Sales
Paper prices are still rising, so publishers might finally start looking at digital books (ebooks) as a profit center rather than another format. I mean, c’mon. Why can’t we have several versions of a book in digital form: an author’s cut with extra material at a premium price, a quick-read simple version for less money, a kid’s version of the adult book. It’s all possible for very little effort or money if the parties are willing. Seems like a no brainer to me.
Self-publishing authors, take heart! Readers are finding your books. And since you own all the rights and subrights, you can experiment by changing covers, fixing copyediting mistakes, adding a sequel or prequel to your series, etc., etc. Build your fan base through meaningful conversations with your readers and they will reward you by buying everything you write.
Link to the rest at Anne R. Allen’s Blog… with Ruth Harris
PG notes that the self-published authors he hears from continued to do just fine in 2022 and intend to have another successful year during 2023.