There’s no way this stat doesnt at least make you think:
Mr Fallon said Pearson was selling 20m books a year when he became chief in 2013. This year, it expects to sell 2m.
From FT.com today (£)
companies#
Go Read This | Little, Brown Acquire Constable & Robinson
When I saw this yesterday I thought we’d see more comment, after all it marks the acquisition of one of the more significant independents left in the UK at the same times as one of the other more significant independents (Quercus) has announced that it is for sale.
I think it’s a very smart buy by Little, Brown in that it closes off possible mergers and alliances that might have been more harmful to its interests and builds their list in some areas where, if they are not necessarily weak, they can always be stronger. As others have pointed out C&R has a decent direct to consumer operation which is no doubt attractive in these times of weakening booksellers.
All in all, an interesting move:
In the short term, Constable & Robinson, under Managing Director Pete Duncan who will now report to Little, Brown Publisher David Shelley, will continue trading from its current premises in Russell Square with business conducted as usual. The transaction has been structured as a purchase by Little, Brown of 100 per cent shareholding in the business, which remains intact as a company. All its contracts remain valid and will be honoured. There should be no disruption for authors and all arrangements with customers, freelancers, distribution partners, suppliers and other contacts of the house stand as they are at least until fully discussed with the parties concerned.
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
Eoin Purcell's Blog 