Big Publishing

What’s an Influencer Worth to Books?

14 October 2019

From Publishers Weekly:

A mini-scandal lit up Twitter last month when the Cut featured a tell-all essay by 27-year-old writer Natalie Beach. In the piece, Beach exposes her seven-year relationship with her friend Caroline Calloway, who scored an agent and a reputed $375,000 book deal for her memoir. Beach, who ghostwrote the book, says her former bestie bought Instagram followers after being told by literary professionals that “no one would buy a memoir from a girl with no claim to fame and no fan base.”

Platform has always been key when putting together a nonfiction book proposal. But back in the not-so-very-distant past—a mere dozen years ago!—publishers were throwing six figures and two-book deals at anyone who had a half-decent story and a clip in the local newspaper. These days, a huge following on social media, particularly Instagram, is a must for a book deal.

The moment agents or editors hear an author has a small following or no following, it’s over. Yes, there are exceptions. Still, worthy authors are overlooked every day—in favor of a young woman with a photo of macarons that went viral? Now her friend the ghostwriter has CAA shopping rights to her story? Which era is crazier?

The Kardashian/Jenner sisters have 500 million followers. So how come fewer than 500,000 viewers (18–49) tuned in to the latest episode of their show? Kim Kardashian’s book of selfies sold fewer than 40,000 copies, according to BookScan—yet she remains a powerful influencer. When are publishers going to concede that number of followers (fake or not) is only one key to book sales?

Naturally, some influencers produce books that are megabestsellers (usually with a lot of help). That is because they deserve a wide audience for whatever message they are sending. Ariana Grande, who has one of the biggest social media followings in the world, should get a huge deal… because she’s an incredible singer with a fantastic story to tell—not because of her follower count!

. . . .

This latest story about two millennial influencers and their book deal reminds me of that hype. Except now I’m overprotective. Some wanna-be authors are using the acquisitions process to snow us, to dupe us, to basically make a mockery out of what publishing stands for—content. Is this what they mean by influence?

Link to the rest at Publishers Weekly

PG has two reactions to the OP:

  1. He has zero sympathy for publishers who are snowed, duped or mocked by anyone, including authors (or more likely their agents) who are looking for a book contract.
  2. If PG were looking for a book contract (he is not and never will), he would be inclined to buy Instagram followers if that would help get him a deal. If publishers can’t look farther than the number of followers on an author’s Instagram account, why not? Is there a strict code of ethics that binds publishers to do or not do things like puff up the quality/importance of a book they’re releasing? What’s sauce for the goose . . . .

One big change in book publishing is that it does not require you to have much of an organization to play anymore

30 September 2019

From veteran publishing consultant, Mike Shatzkin:

More than two decades into its digital transition, book publishing has evolved so that a capital-intensive infrastructure is no longer a requirement to successfully develop a book, or a list of books, and bring the books to market. This has resulted in a self-publishing segment, so far almost entirely author-driven, that is substantial in reach and readership and which offers ongoing competition to the commercial publishing business largely because of its ability to price its ebooks below what would be survival levels for commercial publishers.

. . . .

What publishers do, over and over again, is the business of “content” and “markets”. Each book is unique content and is individually delivered to its own unique market. So publishers need to stick to content and markets that they understand in a contextual way. That is usually done by sticking to genres in fiction and topics or “audiences” for non-fiction. But people who live in any of many non-fiction “worlds” could well be as well-equipped as any publisher to grasp the content-and-market equations in those environments.

The discrete tasks are:

1. Creating the content, which requires domain knowledge (the world of the content) and, of course, the ability to discern good and effective writing and presentation. And a knowledge of the content world implies a sense of any particular project’s uniqueness and timeliness.

2. “Packaging” the content in a form that is reproducible. That means different things for print and for digital. And it is more complicated for books that are illustrated or annotated with charts or graphs.

3. “Marketing”, or making potential readers aware of the book. This takes in what we used to think of as publicity and advertising, which in the “old days” largely centered around book reviews and the sections in newspapers that carried them, but which is now much more about search engine optimization and social network marketing.

4. Connecting with the avenues of distribution: reaching the sources of printed books their customers might use — bookstores, other retailers, or online merchants for consumers and wholesalers or distributors for those intermediaries, print and e. You have to sell to them and serve them: persuade them to carry or list the book and then deliver, bill, and collect so they can.

5. Selling rights where you can’t sell books. Because many books, no matter their origin, have the potential to gain additional revenue and exposure through licensing for other languages or placing chunks of the book’s content in other venues (what was very simply “serialization” in the all-print days), rights sales and mangement is another activity that a book publisher has to cover.

How have the avenues for sale to end users changed in the past two decades?

Before digital change arrived, which for trade publishers we could say began when Amazon opened in 1995, publishers sold most of their books in stores. The books got there because their sales reps persuaded the stores to stock them. Reps and stores are still a part of the delivery system, but they are no longer the only path to an audience that can deliver a book’s author substantial revenue.

In the past 20 years, online sales of print have moved from under 5% of the total units to certainly 40% of units, perhaps 50%. And it can be much more for some titles.

In addition to print, publishers sell ebooks and those are exclusively online. Twenty years ago, sales were zero. Now they appear to be 20% or more of the sales for big publishers. Once again, there is a range across titles and types of titles and there is a whole new segment of digital-first publishers for which the percentage of ebook sales is much higher, sometimes approaching 100%.

. . . .

Twenty years ago was probably the peak of the big bookstore chains — Borders and Barnes & Noble. Two decades ago, those two retail behemoths were more than 30% of many publishers’ sales. Today, Borders is gone, Barnes & Noble has shrunk, and their sales are less than 10% for most publishers. The number of chain stores is fewer than half of what it was, but shelf space for books has shrunk even more.

As a result of the diminishing bookstore space — shrinking and disappearing chains and despite a recent resurgence of independents the growth from them hasn’t nearly replaced what’s been lost — the opportunities to put printed books in front of consumers have shrunk. So the shelf space in mass merchants, like Walmart and Costco, is especially important for the big books.

. . . .

At the same time, the general interest book clubs have pretty much disappeared. Publishers used to be able to move thousands of copies of big books through those direct mail channels. They’re effectively gone.

And all of the above is really attributable to the fact that the sales have moved to Amazon. Twenty years ago they were probably not as much as 2 percent of book sales. Now, if you include Kindle sales, they are almost certainly 50 percent of the sales. For printed books alone, they are over 40 percent for most publishers.

. . . .

Amazon sales reached a tipping point about ten years ago. Kindle, launched in 2007, grew fast, as the first “direct download” ebook system. (Before Kindle, the ebooks had to be downloaded into a computer and then “synched” to a device.) So when Amazon first offered the self-publishing opportunity through Kindle, they were able to “reach” an audience of sufficient size to enable aspiring authors to actually make some money. When they added their “Create Space” capability for print-on-demand, an author could readily reach half the book-buying audience with one stop.

That was really the catalyst for what has become a tsunami of self-publishing.

. . . .

The much-cheaper [indie ebooks on Amazon] were most compelling for the audiences that consumed many titles: readers of romance, sci-fi, thrillers, and mysteries. It didn’t take long — maybe a couple of years — for a very robust title selection in those genres to become available from many previously-unknown authors.

Whether it was intentional or not, Amazon’s flipping of the time-honored “razors and blades” pricing strategy contributed to their rounding up all those multiple-book readers.

. . . .

[F]rom day one, the tiny-but-growing community of Kindle readers bought an outsized number of books.

For those authors who captured readers through the combination of low-pricing and the appeal of the free book “samples” that digital enabled, the Amazon self-publishing ecosystem could be very remuerative.

. . . .

Regular publishing required an agent most of the time but it required a lot of patience all of the time. Finding an agent took effort and could take months. The publishers’ decision-making process to buy also took a long time, often months. The act of publishing took a long time, also often months. It quite often added up to years. And then the share the author got was a fraction of what Kindle would pay them.

. . . .

So by 2010, we had a very different profile of intermediaries between publishers and their readers than we had a decade or so before.

And in the decade since, the total retail shelf space dedicated to books, across chains, independents, mass merchants, and specialty merchants, has continued to decline. The share of sales being taken by online has continued to grow to the level we cited: 50 percent for most titles. All publishers, but particularly big publishers, have taken to heart that they have to market direct to consumers . . . .

. . . .

If you go back to the top to look at the requirements to publish a book, numbers one and two are the creation and designing of a book, and most publishers use freelance capabilities for that which are available to anybody, including individual authors. Number three (marketing) has many components, but there are a plethora of independent services available to deliver most of the capabilities. Number four (connecting with the avenues of distribution) is delivered by Amazon to their customers and by Ingram to the world. And number five (licensing, particularly foreign rights) can be done by a vast network of agents and digital marketing consultants that already exists. You don’t need to own any of it to play.

And, as a result of all of that, many of the structural advantages a being a book publisher have faded in importance. A person with a manuscript, a computer, and a bit of a budget has been able to publish effectively, and sometimes profitably, for the past ten years. That has spawned the current infrastructure of capabilities and services that might suddenly be discovered as a key tool by entities bigger than individual authors. On another day, we’ll explore that might mean to publishing’s future.

Link to the rest at The Shatzkin Files

PG has been hard on Mr. Shatzkin on many occasions in the past. However, over the past several months, Shatzkin has come around nicely (in PG’s occasionally meek and deferential opinion).

If PG were to date this change, he thinks it may have begun when Shatzkin retired (or mostly-retired, PG has no familiarity with anything other than what The Shatzkin Files have disclosed) from his work as a long-time and well-respected publishing consultant based in New York City.

As PG considered this apparent change, he was reminded of Miles’ Law, reputedly named for Rufus E. Miles, Jr., a supervisor in the Bureau of the Budget in the 1940s who told a group of subordinates that, in government agencies, “Where you stand depends on where you sit.”

PG has never been in the traditional publishing business (although he has been exposed to traditional publishers via helping Mrs. PG by reviewing the publishing contracts from the traditional publishers with which she formerly did business).

PG was not alone in recognizing the potential for Amazon and its general pricing practices, but particularly for its aggressive move into ebooks, to completely upend traditional publishing. He had witnessed and participated in the revolution that had significantly impacted the legal profession with the birth of computer-based word-processing and its ability to turn out perfect, custom-fitted documents of all sorts very quickly and inexpensively. When he was still practicing retail law, PG made a lot of money by building software programs that could start printing out sophisticated wills and trusts or divorce petitions and related documents while the client was still in the process of writing a check and handing it to one of his legal assistants.

Even more importantly, PG had absorbed significant amounts of the thinking and writing of Clayton M. Christensen, Harvard Business School professor and well-known author of The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail, a book that Jeff Bezos and Steve Jobs have each said had a major impact on how they built Amazon and Apple.

The early moves of Bezos into providing self-publishing tools for the masses were extraordinarily disruptive, especially for ebooks, putting Amazon’s promotional power behind making some of those indie ebooks into big sellers and, even more important, on a per-ebook basis, paying authors far more than they would receive from the sale of an ebook via a traditional publisher through Amazon.

When you add the tools Amazon has provided for author to exercise broad control over ebook pricing plus author access to the Amazon-based advertising and marketing tools for selling books, Amazon has effectively set up an online laboratory that permits authors to experiment with all sorts of marketing/pricing strategies in an ongoing search for the best way to sell a lot of ebooks. Perhaps more important even than the money Amazon earns from selling indie ebooks, it is in a position impossible for any traditional publisher to equal, where it can watch and learn from all the various pricing/marketing/product design experimentation going on among thousands of individual authors, including some who are selling a huge number of ebooks.

PG suggests that, while good editors, nicely-formatted books and skilled cover designers are very important for most indie authors, paying for those services separately (or doing them yourself, particularly in the case of book formatting), instead of offloading those jobs to publishers and giving up far more income than even the most expensive editor or designer would charge just doesn’t make sense.

If you’re writing in a niche that benefits from quick-to-market strategies to take advantage of something that’s happening right now or soon will happen, a traditional publisher is most definitely not a smart strategy. You can make it all happen much faster (and probably  much better – most publishers’ employees are generalists, not specialists in particular market segments or sub-segments, plus everything at a publisher is subject to bureaucratic time lags) by doing it (or hiring specialists to do it) yourself.

The discovery of truth is prevented more effectively, not by the false appearance things present and which mislead into error, not directly by weakness of the reasoning powers, but by preconceived opinion, by prejudice.

~ Arthur Schopenhauer

Bureaucracy defends the status quo long past the time when the quo has lost its status.

~ Laurence J. Peter

In any bureaucracy, there’s a natural tendency to let the system become an excuse for inaction.

~  Chris Fussell

Bureaucracy is a giant mechanism operated by pygmies.

~  Honore de Balzac

It’s a Fact: Mistakes Are Embarrassing the Publishing Industry

27 September 2019

From The New York Times:

In an era plagued by deep fakes and online disinformation campaigns, we still tend to trust what we read in books. But should we?

In the past year alone, errors in books by several high-profile authors — including Naomi Wolf, the former New York Times executive editor Jill Abramson, the historian Jared Diamond, the behavioral scientist and “happiness expert” Paul Dolan and the journalist Michael Wolff — have ignited a debate over whether publishers should take more responsibility for the accuracy of their books.

Some authors are hiring independent fact checkers to review their books. A few nonfiction editors at major publishing companies have started including rigorous professional fact-checking in their suite of editorial services.

While in the fallout of each accuracy scandal everyone asks where the fact checkers are, there isn’t broad agreement on who should be paying for what is a time-consuming, labor-intensive process in the low-margin publishing industry.

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“The standard line from publishers is, ‘We rely on our authors,’ and, well, that’s not good enough,” said Gabriel Sherman, a journalist who paid two fact checkers $100,000 from his advance for his 2014 book, “The Loudest Voice in the Room,” about Roger E. Ailes and Fox News. “I wish publishers did see the importance of fact-checking as essentially an insurance policy.”

. . . .

Publishers have long maintained that fact-checking every book would be prohibitively expensive, and that the responsibility falls on authors, who hold the copyrights. But in today’s polarized media landscape, that stance appears to be shifting as some publishers privately agree that they should be doing more, particularly when the subject matter is controversial.

“If you’re writing a remotely controversial book, there’s going to be an active audience that’s invested in discrediting it,” said Kyle Pope, the editor and publisher of the Columbia Journalism Review. “This notion that books are above the fray, I don’t think it’s going to last.”

Accusations of sloppiness and journalistic malpractice now quickly explode on social media.

. . . .

In May, The New York Times Book Review published a blistering review of Mr. Diamond’s book “Upheaval.” The reviewer, the author Anand Giridharadas, cited mangled facts and what he described as misleading generalizations, and argued that the flaws were emblematic of a systemic lack of fact-checking in publishing.

“Fact checkers are as important as cover designers, as editors,” Mr. Giridharadas said in an interview. “It’s not treated as mandatory, and I think it should be.”

. . . .

In his new book, “Talking to Strangers,” Malcolm Gladwell writes that poets have “far and away the highest suicide rates,” as much as five times the rate for the general population. The statistic struck Andrew Ferguson, a writer for The Atlantic, as odd, so he tracked down its source: a paper that cited a 1993 book by Kay Redfield Jamison, a psychologist who based the finding on suicides among 36 “major British and Irish poets born between 1705 and 1805.” Somehow, a narrow analysis of a few dozen 18th- and 19th-century poets was mistakenly applied to all poets, then amplified in a best-selling book.

When publishers do conduct a factual review, it’s often in response to a crisis.

Link to the rest at The New York Times

PG suggests that the ultimate owners of major US publishers pay very close attention to the bottom lines of their subsidiaries. Fact-checking is seldom necessary for increased profits. Indeed, as the OP indicates, it may be a major cost, something that prevents a book from showing a profit. Anyone in New York trying to justify such an expenditure has a steep hill to climb unless there is a positive short-term financial return that can be reliably anticipated to cover those costs.

It is far less expensive to blame the author for being careless and inattentive to his/her art. There is always another author.

Besides, anyone who may need to be fired for appearances’ sake is a long way down the corporate ladder from the owners.

Physical books still outsell e-books — and here’s why

25 September 2019

From CNBC:

Do you prefer reading an e-book or a physical version? It might be a surprise, but for most people, old school print on paper still wins.

Publishers of books in all formats made almost $26 billion in revenue last year in the U.S., with print making up $22.6 billion and e-books taking $2.04 billion, according to the Association of American Publishers’ annual report 2019. Those figures include trade and educational books, as well as fiction.

While digital media has disrupted other industries such as news publishing and the music business, people still love to own physical books, according to Meryl Halls, managing director of the Booksellers’ Association in the U.K.

“I think the e-book bubble has burst somewhat, sales are flattening off, I think the physical object is very appealing. Publishers are producing incredibly gorgeous books, so the cover designs are often gorgeous, they’re beautiful objects,” she told CNBC.

People love to display what they’ve read, she added. “The book lover loves to have a record of what they’ve read, and it’s about signaling to the rest of the world. It’s about decorating your home, it’s about collecting, I guess, because people are completists aren’t they, they want to have that to indicate about themselves.”

. . . .

It’s more than a decade since Amazon launched the Kindle, and for Halls, there is also a hunger for information and a desire to escape the screen. “It’s partly the political landscape, people are looking for escape, but they are also looking for information. So, they are coming to print for a whole, quite a complex mess of reasons and I think … it’s harder to have an emotional relationship with what you’re reading if it’s on an e-reader.”

. . . .

Sixty-three percent of physical book sales in the U.K. are to people under the age of 44, while 52% of e-book sales are to those over 45, according to Nielsen.

It’s a similar picture in the U.S., where 75% of people aged 18 to 29 claimed to have read a physical book in 2017, higher than the average of 67%, according to Pew Research.

Link to the rest at CNBC

With data from the Association of American Publishers and the Booksellers Association in the UK, PG notes a distinct lack of information in the OP regarding how many ebooks Amazon sells in the US and UK. Unless he is much mistaken, the statistics quoted in the OP don’t include sales of ebooks by Amazon Publishing and indie ebooks via KDP.

When PG last checked, in addition to not collecting ebook sales information, Nielsen (now NPD) Bookscan figures didn’t include printed or POD books that weren’t registered with Ingram.

 

Book publishers sue Audible to stop new speech-to-text feature

15 September 2019

PG has posted about this latest dispute between Big Publishing and Amazon before, but thought the OP was a good (though speculative) description of Amazon’s possible legal analysis supporting its offering of this new audiobook feature.

From Ars Technica:

Seven of the nation’s top book publishers sued Amazon subsidiary Audible on Friday, asking federal courts to block the company from releasing a new feature called Audible Captions that’s due out next month. The technology does exactly what it sounds like: display text captions on the screen of your phone or tablet as the corresponding words are read in the audio file.

The publishers argue that this is straight-up copyright infringement. In their view, the law gives them the right to control the distribution of their books in different formats. Audio is a different format from text, they reason, so Audible needs a separate license.

This would be a slam-dunk argument if Audible were generating PDFs of entire books and distributing them to customers alongside the audio files. But what Audible is actually doing is subtly different—in a way that could provide the company with firm legal ground to stand on.

The caption feature “is not and was never intended to be a book,” Audible explained in an online statement following the lawsuit. “Listeners cannot read at their own pace or flip through pages as they could with a print book or eBook.” Instead, the purpose is to allow “listeners to follow along with a few lines of machine-generated text as they listen to the audio performance.”

“We disagree with the claims that this violates any rights and look forward to working with publishers and members of the professional creative community to help them better understand the educational and accessibility benefits of this innovation,” Audible added.

. . . .

[A]n Audible executive explained that the technology was “built on publicly available technology through AWS Transcribe.” That’s Amazon’s cloud-based service for automatic text transcription.

So it seems that the Audible app is generating text captions in realtime as the user plays an audio file. The app sends snippets of audio files to an Amazon server and gets back corresponding sections of text, which it then displays on the screen one word at a time. (It’s possible that AWS Transcribe has an offline mode that allows the transcription to happen on-device, but I haven’t found any documentation about this. I’ve asked Audible about this and will update if they respond.)

Audible is likely doing this because it strengthens the company’s argument that it can do this without a license from publishers.

To see why, it’s helpful to review two of the most important copyright decisions of the modern era. The first was the 1984 decision of Sony v. Universal that declared the VCR legal. Hollywood argued that the “record” button on a VCR was an invitation for customers to infringe their copyrights. But the Supreme Court disagreed, arguing that copyright’s fair use doctrine allowed “time shifting”—recording a show now to play it later.

The courts built on this decision with a 2008 ruling known as Cartoon Network v. Cablevision. In that case, a bunch of media companies sued the cable company Cablevision because it was offering customers a “remote DVR.” Like a conventional DVR (or a VCR before that), Cablevision’s technology allowed customers to record and play back television shows at their convenience. But unlike a conventional DVR, the remote DVR was located in a Cablevision data center, not in the customer’s home.

Television content owners argued that Cablevision was infringing their copyrights by making unauthorized copies of their show on a massive scale. Cablevision disagreed, arguing that the copies were being made by customers, not by Cablevision. The physical DVR might be owned and maintained by Cablevision, but the customer was deciding which shows to record. And the customer was entitled to do that under the earlier Sony ruling. An appeals court ultimately accepted this argument.

The Cablevision ruling provided a legal foundation for cloud-based “storage locker” services that allowed customers to upload, save, and stream (but not share) their music and video collections.

. . . .

That brings us back to Audible’s new transcription technology. Audible doesn’t have the legal right to sell text versions of audiobooks to customers without publishers’ permission. But we can expect Audible to argue that it does have a right to sell software tools that allow customers to do speech-to-text conversion.

Audible’s case will likely be strengthened by the fact that its app never creates or saves a permanent, full transcript of an audiobook. Instead, the software only displays a few words on the screen at a time.

If Audible is sending audio files to Amazon’s servers for transcription, publishers are likely to argue this means Amazon—not users—are creating the transcripts. But this seems closely analogous to the Cablevision case: the conversion is being done by Amazon servers but only when explicitly requested by users. And each translation is only sent back to the user who requested it.

Link to the rest at Ars Technica

 

 

Why Angry Librarians Are Going to War With Publishers Over E-Books

13 September 2019

PG has mentioned this brilliant strategy from Macmillan here and here, but under the principle that you can’t celebrate Big Publishing stupidity enough, here’s more.

From Slate:

If I wanted to borrow A Better Man by Louise Penny—the country’s current No. 1 fiction bestseller—from my local library in my preferred format, e-book, I’d be looking at about a 10-week waitlist. And soon, if the book’s publisher, a division of Macmillan, has its way, that already-lengthy wait time could get significantly longer.

In July, Macmillan announced that come November, the company will only allow libraries to purchase a single copy of its new titles for the first eight weeks of their release—and that’s one copy whether it’s the New York Public Library or a small-town operation that’s barely moved on from its card catalog. This has sparked an appropriately quiet revolt. Librarians and their allies quickly denounced the decision when it came down, and now the American Library Association is escalating the protest by enlisting the public to stand with libraries by signing an online petition with a populist call against such restrictive practices. (The association announced the petition Wednesday at Digital Book World, an industry conference in Nashville, Tennessee.) What’s unclear is whether the association can get the public to understand a byzantine-seeming dispute over electronic files and the right to download them.

In a July memo addressed to Macmillan authors, illustrators, and agents, the company’s CEO John Sargent cited the “growing fears that library lending was cannibalizing sales” as a reason for embargoing libraries from purchasing more than one copy of new books during their first eight weeks on sale. “It seems that given a choice between a purchase of an ebook for $12.99 or a frictionless lend for free, the American ebook reader is starting to lean heavily toward free,” he claimed.

Many individual library systems and companies that work with libraries swiftly responded with objections. “Public libraries are engaged in one of the most valuable series of community services for all ages, for all audiences,” said Steve Potash, the CEO and founder of OverDrive, a company that supplies libraries with e-books. “The public library is just something that is underappreciated. It certainly is so by Macmillan.”

. . . .

“If you think about equitable access to information for everybody, there shouldn’t be discrimination or anything like that,” said Alan Inouye, the senior director for public policy and government relations at the ALA. “So consumers can get this book on Day 1 without limitation, but libraries have to wait for eight weeks? That’s just very wrong.”

. . . .

The controversy over Macmillan’s new policy gets at one of the central issues facing book publishing today. “There’s a tension in e-book pricing generally between consumer expectations that a digital file will be less expensive than a physical copy and the reality that very little of the cost of making a book is tied up in the physical format,” said Devin McGinley, a senior industry analyst covering book publishing for Ibisworld Inc., a market research firm. “Publishers are rightly concerned that if the price of books erodes too much, they will no longer be able to cover their creative costs and subsidize more speculative bets on emerging authors.”

. . . .

“They really did not have any reasonable data to support a narrative that if an author’s new book is withheld from public library lending when it first comes out, that might impact the author’s or the book’s sales during those first few months,” Potash said. “That isn’t borne out. The data that OverDrive has is that for every title that actually gets borrowed or downloaded, the library is engaging with dozens and dozens of readers who are discovering the book, sampling the book, or just looking for a recommendation on what to read next.” Potash said that studies consistently show library patrons to be more frequent book buyers overall—which is another reason Macmillan’s letter stung. “They are taking their readers, their customers, their fans, and intentionally trying to frustrate them,” he said.

Link to the rest at Slate

PG will state that whenever a business executive talks about making a decision to avoid “cannibalizing sales,” you will find many other stupid words and acts following shortly thereafter.

Steve Job famously said, “If you don’t cannibalize yourself, someone else will.” He made this comment when Apple was selling a lot of iPods, and had just announced the iPhone.

Did the iPhone cannibalize Apple’s iPod business? You bet. Were any Apple shareholders upset by this cannibalization? Not really. The iPhone would make Apple the most valuable company in the world.

The first iPhone was announced in January, 2007, and went on sale in June, 2007. One year after the announcement of the first iPhone and six months after its launch, in January, 2008, the value of a share of Apple stock had almost doubled. About six months later, in July, 2008, when Apple launched the iPhone 3G (the first iPhone with an app store), the stock value was 285% of the price only 18 months earlier.

Not many people were worried about iPod sales at that point.

From an interview with James Allworth, the co-author, with Clay Christensen and David Skok, of a new Nieman Reports article called “Breaking News– Mastering the Art of Disruptive Innovation in Journalism.” The Harvard Business Review published a transcript:

Well, if you can see a way of cannibalizing your existing business, then chances are somebody else can see that same opportunity too. And if it’s a choice between you or your competitor cannibalizing that business, I think in almost every instance you will be better off in the long run if you yourself choose to do it.

Link to the rest at The Harvard Business Review

Back to Macmillan, once a book is completed, PG will note that each copy of an ebook that Macmillan licenses to a user costs the company essentially nothing. This cannot, of course, be said about a printed book, each one of which carries costs for printing, shipping, warehousing, handling returns of unsold books from bookstores, etc.

PG suggests that an intelligent executive would be happy to cannibalize the sales of more copies of costly printed books by selling costless ebooks.

 

Level the Playing Field for Books in Translation

13 September 2019

From Publishers Weekly:

(PG Note – The author is a Slovenian publisher)

Nowadays, when everything is just a click away, people around the world have come to expect the latest installment of great TV series such as The Handmaid’s Tale or Game of Thrones to be delivered to their screens more or less simultaneously with the original release, together with corresponding subtitles in Croatian, Macedonian, Serbian, Slovenian…. There are many people involved with the production, and the security risks are extremely high, but still—the magic happens.

It is therefore somewhat surprising that in book publishing we’re witnessing a discriminating practice that has become increasingly common in recent years. In fact, this is now a sort of a status symbol, which divides major from merely big or important authors. At my Slovenian publishing company, Mladinska Knjiga, we still receive Mr. Barnes’s or Mrs. Hawkins’s or Mr. McEwan’s or Mr. Nesbø’s or Mr. Walliams’s new novels way ahead of publication (Mr. Nesbø even kindly provides the complete English translation for those who are not translating from Norwegian!), whereas this is not the case with authors (brands?) such as Dan Brown, John Green, or J.K. Rowling. Even Harper Lee’s second novel, Go Set a Watchman, was strictly embargoed until publication of the English edition. And now Margaret Atwood’s The Testaments faces the same issue.

The reason given is always the same: security. We were told by Atwood’s agency: “If this manuscript leaks, the consequences are huge, and therefore we have to have a strategy that minimizes the risk.”

A strategy? Some (well, most) of us are obviously not trustworthy. But there’s more. Initially a universal practice, this “strategy” is not without exceptions now. For example, the German version of The Testaments is scheduled for simultaneous publication with the original—so is the Spanish one and the Italian one. Is this then just a variation on a good old theme of “paying more” ? (One wonders how much of this is known to authors themselves, all fine people, who are usually sincerely grateful to each of their publishers from all around the world.)

The Booker shortlist was just announced, and it includes The Testaments. This is great news. It means that the book is good. But what it also means is that the jurors were given the manuscript ahead of publication, too. How did security procedures work in this case? I would rather not speculate, but let me just say that this only made us even more furious.

. . . .

In the case of The Testaments, we were particularly disappointed because we had initially been promised the manuscript in March (just enough time to publish more or less simultaneously), only to later be told that we’ll have to wait until September 12.

Why is this so crucial? We will lose the global promotional momentum and lose face in the eyes of our readers, booksellers, and librarians: the book is published, so where’s the Slovenian version? Most of them will think that the publisher is rather sloppy and slow.

The bottom line: we will sell less. And this is as important for German publishers as it is for Slovenian, Slovakian, and Icelandic publishers. Literary bestsellers are extremely rare. Therefore, one must seize every selling opportunity, and publishing simultaneously with the original edition is an especially effective one.

Sure, there are those houses that will hire multiple translators to finish the translation in two weeks, enabling the hasty publisher to publish the book just in time for the Christmas season. But would you really want to see or read the result? Margaret Atwood is a very fine author, one of the best. Her books deserve a committed translator and proper editorial dedication. And this takes time. So here is another factor that speaks against this strategy—the author’s reputation is at stake.

Link to the rest at Publishers Weekly

PG suggests that large publishers are almost religiously attached to their superannuated ideas about how to promote and advertise the books they release. Based upon shared folklore that the world is breathlessly awaiting the next release from OldPub in New York, they believe that a relative handful of chosen bookstores and an exclusive review in The New York Times will move the sales needle like it did before most people buy books online and the Times print circulation is plummeting.

New York Times Print Circulation – Monday-Friday – Wikipedia

BookExpo Announces a Shorter Trade Show for 2020 in New York City

9 September 2019

From Publishing Perspectives:

In a “Dear Valued Customer” letter this morning (September 9) from Reed Exhibitions event manager Jennifer Martin, BookExpo has announced changes in its approach for the 2020 outing of the beleaguered US trade show at the Jacob Javits Center in New York City.

Citing a 38-percent increase in bookseller and retailer attendance in May for this year’s show, Martin also points out that 145 American Bookseller Association attendees were supported by the show’s “Bestsellers Grant Program” of travel subsidies.

Nevertheless, what Martin describes as a jump in attendance has not led the administration to continue its two-and-a-half-day schedule. The first of several changing elements Martin announces in her letter is a return to the two-day show schedule.

Distilled to the points being announced, however, there actually are very few confirmed elements of next year’s show in Martin’s letter.

. . . .

A two-day exhibition floor. BookExpo 2020—which is set for May 27 to 29—will return to a two-day exhibition-floor schedule. As Publishing Perspectives readers will recall, the floor opened this year at midday on the Wednesday of the week. Next year, Martin writes, Wednesday will revert to being a full day of conference and “education,” the latter referring to informational sessions akin to those known as Insight Seminars by regular attendees of the London Book Fair.

As Martin explains the reversion to the shorter exhibitors’ show, “In 2019, we moved back to a three-day event. The goal was to give everyone additional time on the floor to discover and connect. Though some saw value in it, most found it challenging and costly. After two months of in-depth conversations with customers, we have decided to return to a two-day trade show schedule, with Wednesday dedicated solely to programming and education. BookExpo will take place on Thursday and Friday; BookCon on Saturday and Sunday.”

. . . .

Editors’ Speed Dating. Martin says a cooperative effort in one-on-one encounters for booksellers with editors proved to be “a good format.” She writes, “It is platforms like this that we plan to increase, that connect the right groups of people in a focused way to foster real discussions with measurable and actionable outcomes.” She does not, however, actually say that this program will return.

Non-book retail show. Dubbed “UnBound” by the fair, this parallel exhibition floor is placed on the southern end of the Javits Center, a vast area largely abandoned by publishing exhibitors in the last few years as the show shrinks. The exhibitors here comprise, as Reed puts it, “a curated assortment of distinctive bookish goods hand- selected for the book channel.”

. . . .

The New York Rights Fair. Here again, Martin isn’t clear, but her tone seems to indicate that the rights-trading floor will be back in 2020. In 2018, as BolognaFiere and Publishers Weekly reconstituted BookExpo’s rights-trading area as the New York Rights Fair, they moved it to the Metropolitan Pavilion across town. The distance and separation of the rights center from the rest of the trade show pleased very few people, and the rights trading was brought back into the Javits in May, still as the newly branded New York Rights Fair.

On the whole, the rights-trading tables area looked remarkably empty during BookExpo in May, although Martin says that exhibitors and attendees came from more than 73 countries. What seemed to work best, as it did in 2018, was the programming attached to the rights trading area in a comfortable stage area with effective (and welcome) sound-deflection panels. Again, however, this rather imprecise letter doesn’t actually state the 2020 status of the New York Rights Fair.

Link to the rest at Publishing Perspectives

During an earlier stage of his legal career, PG was involved in the planning of the largest legal technology trade show in the United States. He has also attended some giant technology shows in San Francisco/Silicon Valley. These experiences don’t make him an expert on publishing trade shows, but does lead him to speculate on what’s happening with BookExpo.

  • Reed Exhibitions is a subsidiary of RELX (formerly Reed Elsevier), a very large company that makes most of its money from legal, scientific and academic publishing.
  • RELX used to own Publishing Perspectives, the source of the OP, but sold it off in 2009. The only reason a company like RELX sells something is that what’s being sold isn’t making much money.
  • Trade shows must cater to two audiences who don’t necessarily have the same interests:
    1. A business or professional group – doctors, lawyers, book stores, etc.
    2. Entities that sell products or services to the business or professional group
  • So, a typical trade show consists of two parts:
    1. Education/information programs that attract significant numbers of book stores, doctors, lawyers, etc.
    2. An exhibition hall in which vendors who would like to reach book store owners, doctors, lawyers, etc., set up booths, put on product demonstrations, give away tote bags, caps, buttons, etc., bearing the corporate logo or product name.
  • A trade show usually requires an admission fee from members of the business or professional group, but free tickets are often available for members of the target group who are in the know or are typically given to those speaking in the educational segment.
  • PG can’t speak for all trade shows, but has been informed that most of the money most shows generate comes from the exhibitors.

PG’s semi-professional take on the OP is that Reed Exhibitions doesn’t think the latest BookExpo was very successful from a financial standpoint. Perhaps Reed had to discount exhibit space or bring in exhibitors tangential to the core purpose of the show in order to fill the exhibit hall. Perhaps Reed is having problems attracting good quality speakers for the show.

The garbling of the message from Reed described in the OP may be an indication that Reed’s best thinkers are paying more attention to other shows than they are to BookExpo.

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