capital

Go Read This | Harder, better, faster, stronger | The Bookseller

There is, as ever much to enjoy in reading Rebecca Smart’s analysis over on The Bookseller. One thing that stands out for me though is the ease with which she talks about topics that rarely get flagged up in publishing discussions, things like working capital and cash flow, critical elements in the world of books, physical or digital that perhaps more often than makes sense get relegated to the back room while the cool topic like art, literature and the rest get all the attention and discussion:

The current trade publishing sales process means that money and time are invested in 15 to 18 months’ worth of books at any given point. If we could reduce the length of the pipeline for most of the books we publish we would be able to invest more in each book – and the fact that the business of publishing would become less working capital-intensive would improve its chances of survival and therefore of continuing in its important role of finding and developing talent.

via Harder, better, faster, stronger | The Bookseller.

Of course, it’s easier to say than to implement but it’s a worthwhile goal I think, one worth thinking through and looking at a plan for execution!

Eoin

Go Read This | Hyperion to Put Older Book Titles on Market

Really fascinating move by Hyperion. I think it marks an intelligent strategic shift but one that wont work for everyone. It allows them to concentrate capital on core brands and remove the distraction of less essential brands that might well be better housed under other houses. It will be interesting to see how their rivals react. It certainly provides an alternative to merger mania which has been prompted by the Penguin/Random deal:

The decision means that Hyperion is migrating away from the traditional book-publishing model of actively competing with other publishers for new titles. Instead, Hyperion, which is part of Disney’s ABC Television Group, will look for books either linked to ABC television properties or that it believes can be extended to television or other corners of Walt Disney.

via Hyperion to Put Older Book Titles on Market – WSJ.com.