Tag Archives: books

Should Books Be Discounted?

Should Books Be Discounted? Image from businessblog.winweb.com.

I had a call the other day from David Streitfeld, who often covers the publishing business for the New York Times. He wanted to know if Amazon was discounting the books that IPG distributes at a lesser rate than they used to. There has been widespread concern in the publishing community that Amazons’ game plan is to steeply discount everything until the competition is wiped out, at which point they could put prices way up and start coining money.

It is true that Amazon has discounted very aggressively, and has been content to accept a very low profit margin if this would mean a rapid increase in market share—which it has. If titles are now being discounted less, this might signal that Amazon is turning to Part Two of its strategy, the part where the prices start to go up. In the article that Streitfeld published in the NYT on the 4th of July, one of his sources expressed the view that the discounts were in fact decreasing, especially on independent press and scholarly titles, which would be disastrous for sales.

My take on this issue is quite different. I have no inside information whatsoever about Amazon’s game plan, but I know what I would be doing if I were in their position: I would be experimenting with discounts and mining the sales data to see what effect different levels of discounting would have on the sales of various kinds of books at each stage in their life cycles. Streitfeld quotes me as saying:

“‘They [Amazon] are wondering, “If we knock off only 10 percent as opposed to 35 percent, where do we come out ahead?”‘ Mr. Matthews said. ‘They don’t care how many books they sell. They want to know how many dollars they get.'”

My grammar is regrettable, but the idea is from Business 101: Find the place where the price and volume lines cross on the graph, the balance that yields the most dollars.

Many people are offended by the very idea of discounting books.  After all, books have a list price printed right on the jacket flap or back cover.  Almost no other products have the price printed on them during manufacture. Doesn’t this mean that, for books, the list price is somehow the right price? And aren’t discounted products usually cheap knockoffs of better things? Perhaps Amazon has done a disservice to the special stature of the book as a cultural icon; perhaps all this discounting has convinced many consumers that paying list price for a book means you are a bit of a chump, like the little old lady who pays full sticker price for a new car. Or, it may be that the book is not quite the cultural icon it used to be—for reasons that have little to do with discounting.

I will confess that I was a happier book buyer in the days before they were routinely discounted. The printed list price assured me that the title I wanted would cost the same in any bookstore, and that no one would get a better deal than I did. But perhaps a lower price justifies putting up with a little low-level anxiety of that kind.

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Vivian Maier & Independent Publishing

Vivian Maier: Out of the Shadows | CityFiles PressTwo seemingly disparate parts of your life can sometimes collide with a bang. I have worked in the independent publishing business forever. A decade into that career, my wife and I employed a nanny named Vivian Maier to help raise our kids. Years later, Vivian (sadly, only after her death) has burst into prominence as a street photographer of genius, and a book of her startlingly evocative images, Vivian Maier: Out of the Shadows, has been published by CityFiles Press, one of IPG’s client indie presses. Her work is appearing in shows all around the world. In a recent starred review, Library Journal said:

[The authors] show that Vivian Maier was a great artist—not simply “the nanny photographer,” as some have called her. VERDICT This book will be greatly appreciated by anyone interested in art photography, 20th-century art, and American cultural history. Highly recommended.

Of course, people have been asking me what she was like as a person and what it was like to employ a genius nanny. Well, she was no Mary Poppins, if what you have in mind is Julie Andrews in the 1964 Disney movie. But she was a lot like the original character in P.L. Travers’s 1934 novel: eccentric, opinionated, peppery. When she came to work for my family in 1982, our kids were eight years, six years, and five months old. She was businesslike and usually competent, but our children knew she was much more interested in taking photographs than she was in them. She never took them for a walk without her Rollei twin-lens reflex camera hanging around her neck (during her life she took over 100,000 pictures). My Source: lens.blogs.nytimes.com: Vivian Maier Jeffrey Goldstein Collectionkids don’t remember her with any special affection, and I am afraid it is true that one time she wandered off somewhere during a walk and the kids had to get home by themselves.

Her terrific photographs of children shed light on her complicated attitude toward them. Some of her images show bright-eyed, confident-looking children, but something about the photo tells you that such confidence cannot last. More often, her images show anxious children in situations that look uncomfortable or dangerous. There is a fabulous shot of a woman standing outdoors behind a table; it takes a couple of beats before you notice the sad child sitting in the shadow under the table. Children made her uneasy. She was not afraid of them but she was certainly afraid for them—afraid for their safety, their chances for happiness in what she saw as a difficult and disappointing world. I think she wanted to stop time with her camera to keep them safe.

At one point, impressed with her intense picture taking, I asked Vivian to let me see some of her work. The half dozen prints she showed me were terrific. I asked her why in the world she had not made a career out of photography.Source: Vivian Maier, courtesy Jeffrey Goldstein Collection Vivian Maier, Highland Park, Ill. 1965. She knew of course that she was a gifted artist—the geniuses know who they are—but she could not get past her deep paranoia. She told me that if she had not kept her images secret, people would have stolen or misused them. In our age of flagrant internet exhibitionism, her reluctance now seems quite strange…and honorable. As a result of that secrecy, the world might never have seen Vivian’s incredible works—were it not for the sharp eye and dedication of one small independent publisher.

CityFiles Press is almost as sui generis as Vivian was. The two gentlemen who run the press have been honing an uncompromising aesthetic appreciation of cityscapes and urban architecture for many years. They write and produce all of the books they publish—so far five beautiful titles. What a fine thing it is that the work of this highly idiosyncratic street photographer was discovered by people so well equipped to grasp and document her unique contribution. This is indie publishing at its best.

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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Making Indie Publishing & Social Media Work Together: Part II

“Social media has one foot in the highly commercial world of advertising and the other foot in the realm of human communication—hopefully sincere human communication. This combination might not always be a comfortable one; but it is now possible to glimpse some social media strategies that may be especially well-suited to the needs of indie publishers.”

Making Indie Publishing and Social Media Work Together Part IIEffective social media marketing has to at least appear to have a higher purpose than just selling a product. It needs to support the idea that community-building information is being exchanged. But can you really make an effective sales pitch, somehow hidden inside friendly communication, in a tweet or a blog or a Facebook post? I think authors and independent publishers can pull it off.

How? With the exception of bestsellers, marketing books has always been a question of bringing the right title to the attention of a buyer already interested in the book’s subject. It has always been a question of matching rather than convincing, a soft sell rather than a hard one. And traditional book marketing has long had a crucial social aspect: word of mouth—information passed among members of a community—is really what drives book sales. Since authors and indie publishers have all along aimed to create some degree of community rather than just driving sales, social networks present a new opportunity to further this goal.

I believe that social media marketing can be particularly effective at the author level. Authors can get away with a little obvious self-promotion. Writing a book is very hard work, often for little pay (again excepting the bestsellers), and most importantly requires a level of self-exposure and risk of failure that most of us simply shy away from. There is a heroic aspect to authorship that serious readers appreciate and admire.

This special connection allows authors to promote their own books, as well as those of their compatriots, without violating social media etiquette. They can inspire readers to buy books through tweets, blogs, and other forms of social media and can use those social outlets to steer customers to their publishers’ websites. After all, to the extent that their publisher is working a niche, that website will in itself amount to a sort of community where publishers, authors, and readers can connect over a shared interest. Over time, it is possible to build a bridge that leads from the author’s social media efforts to the publisher’s website.

What can a distributor do to turn the social media efforts of authors and publishers into sales? IPG has constructed sophisticated shopping carts, at no charge, for some of our client publishers’ websites. These shopping carts are customized to match the look of each website or meet the design preferences of the participating publisher, and they offer eBooks, print books, and streaming audio and video directly to consumers. IPG takes care of all of the back end processing and fulfillment services, as well as automating product and stock information and providing options for promotions. IPG is also developing a “buy button” which can easily be attached to author and publisher social communications, taking readers directly to the relevant book page on a publisher’s new shopping cart. These initiatives are still in beta, but they look very promising and will offer authors and publishers a chance to capitalize on the online communities they’ve cultivated through their social media efforts.

At a macroscopic level, every participant in the publishing industry can be a participant in the larger social conversation revolving around books and the people who love them. By engaging in these conversations, indie publishers (and distributors) can join vibrant communities of authors and readers, leading these groups to their websites, and thus, their books.

**Check out some of IPG’s new shopping carts here: Urban Land Institute Bookstore, American Cancer Society Bookstore, and Nomad Press Bookstore

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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The 10th Habit of Successful Independent Publishers

“They have special access to the information needed to make their books content-rich—years of personal involvement in a subject area, a close relation to a special-interest publication, a means of identifying individuals especially qualified to write books for a particular niche—some special advantage or edge.”

In the last post about what makes a good publishing niche, I cited the example of The Piano Book, a very big, long-term publishing success, and noted that the author/publisher was one of the best known piano technicians in the country. He surely had, and has, special access to information about pianos, and this special access means that the content of his book is very strong and that he has contacts in the piano world that have helped him market to his niche.

A very different example of special access is Aviation Supplies & Academics, Inc., a company which for many years has published books for professional and amateur airplane pilots. Pilots need to master oceans of arcane technical information and must keep their various certifications up to date. This amounts to a solid and almost unassailable base for a niche publisher, and Aviation Supplies has made the most of it. Another publisher of this sort is the American Academy of Pediatrics. Needless to say, their child-rearing titles are taken very seriously, are widely reviewed, and sell very well.

But most new independent publishers do not have the benefit of access to deep systematic knowledge gathered over many years. A much more typical indie press success story is that of Amherst Media, Inc. A couple of decades ago a young author/publisher/photographer turned up at IPG with a well-written—albeit not yet polished—introductory title about how to use a 45 mm film camera, the hot new thing in photography at the time. What was his special edge? He had a good business going wholesaling photography books to camera stores. He knew what was available and what sold well. Hundreds of titles later, Amherst Media is the dominant publisher of how-to books for photographers, and of course, his company was fast and flexible enough to catch the digital camera revolution on the first hop.

If you are not big, at least you can be fast.

How about fiction? Do you need to be a critic to publish it? Or an author? You don’t need such credentials to publish genre fiction. Tachyon Publications, a very highly regarded publisher of science fiction titles, came out of an early and deep appreciation for literature of this kind. The publisher has simply read everything in this genre, knows the authors and their publishing histories, and has for many years attended the conferences and interacted with the groups that support science fiction and fantasy writing. Science fiction aficionados support their habit with an intensity that is unique in the world of books. A publisher who earns their trust can have solid success.

The really tough nut for independent publishers to crack is literary fiction. For the most part the presses that can stay alive with literary fiction (poetry too) do so with the help of foundation grants. If they can cover 60% of their costs with book sales, they feel they are doing very well. Early in my career the Japan Foundation and the National Endowment for the Arts each supported one of my titles. This publishing model did not turn out to be my cup of tea: I spent much more time applying for the grants and creating the follow-up paperwork than I spent publishing the books. But I am full or admiration for the indie publishers who have the patience to do this hard and valuable work.

So, special access to many different kinds of knowledge can serve as the foundation for a successful indie publishing program: real information about an industry, a subject area, a genre, will suffice, but indie publishers really must know what they are doing in some particular niche or niches. They must publish books that build a bridge between some area of expertise they have mastered and the audience that wants that expertise. An abstract desire to be a publisher, however, without such specialized knowledge is unlikely to lead to a successful career in the independent book business.

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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When It Comes to Authors: Part II

Will good authors put up with rough editorial handling? They will, and with enthusiasm, if from the outset you involve them in the development of the marketing ideas that shape the book. The idea is to get them to focus not just on the publication of a book with their name on it, but on the publication of a successful book.

The essential first step is to have your authors fill out a demanding author questionnaire. (If they refuse to fill it out, find another author.) This questionnaire, in addition to eliciting the usual biographical information, should request information on possible special markets, professional contacts, relevant specialized media, sources for blurbs, and possible sales “handles” or angles. What websites did the author use to help research the book? Social media marketing of a title works much better when it is done by an author with an already engaged audience rather than a publisher.

Then, when the book is past the editing stage, furnish the author with a written description of how your company publicizes the books it publishes. This will provide a second opportunity to discuss with the author how the book will be marketed and to explain the author’s role in making the book a success.

Involving the author in the marketing of his or her book is not a cynical means of manipulation and control, but a highly effective strategy. Authors who really know their subjects (if yours doesn’t, find another author) are easily the best source for marketing ideas, especially niche marketing ideas; and the process of winnowing out the good ideas from the less promising will put your author in the right frame of mind to produce not just a book but a successful book.

Including the author in aspects beyond the creation of the book itself have other unforeseen benefits as well. Over the past few years many independent presses have been pleasantly surprised to find authors with fine track records at major houses showing up on their doorsteps prepared to accept a small fraction of the advances customarily offered by the major publishers. Most major houses do not want to hear an author’s marketing ideas, and if offered them anyway, summarily dismiss them. Many authors feel that they are treated like three-year-olds by such publishers.

If we are willing to listen to our authors (and we are crazy if we are not willing to listen) we can maintain their goodwill and cooperation–even when we are tougher on them. Or perhaps because we have been tougher.

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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The 20 Habits of Successful Independent Publishers

Over the years my work at IPG has given me experience with more than 500 different indie publishing companies ranging in size from very small to quite large. I am also the founder of a prosperous mid-sized house, Chicago Review Press, which now publishes 60-70 new titles a year.

In this post I make some observations about the way the most successful independent publishers tend to conduct their business. My list is no doubt idiosyncratic, biased, and incomplete. The point is to stimulate some new thinking and, more importantly, to suggest that indie publishing is unique from what big publishers do, and for that matter, quite unique from how standard business is practiced.

Business Strategy

Successful indie publishers spend very little time thinking about how the industry should function or talking to people who do. Instead, they thoroughly learn how the business actually works and how to prosper within it.
They focus on a niche, but they are always looking for new, or better yet, related ones, because they know that the half-life of a particular niche may only be about 2.5 years or less.
They attempt to sell their books into many markets, be the market trade, or library, or gift, or special sales, rather than relying on only one. They create electronic editions of every title they publish. They want a lot of baskets, even if they have only a few eggs.
They develop a business plan, a set of goals, even a mission statement; but they nimbly alter any of these (perhaps not the mission statement) when circumstances change.
They keep their fixed overhead as low as they possibly can. They make use of freelancers and outside services whenever the price and quality are reasonable. They hire additional staff only as a last, desperate, measure.
They use consultants only when they need solutions to very clearly identified business problems. They know Mother is cheaper for sympathetic hand-holding.
They never tell anyone that their author will be on a big national TV show or that their book is going to be a major motion picture until the show is in the can or the filming has commenced.
They never bet the company on any one book. They understand that the first requirement for success is to be able to stay in the game, and that staying in the game brings experience, contacts, and reputation—advantages that cannot be gained in any other way. They don’t imagine they are in the bestseller business.

The Books

Successful indie publishers only publish books that are rich in content. They know that the books with strong content are the ones that can perform as backlist, and that strong backlist is the sine qua non of successful independent publishing.
They have special access to the information needed to make their books content-rich—years of personal involvement in a subject area, a close relation to a special-interest publication, a means of identifying individuals especially qualified to write books for a particular niche—some special advantage or edge.
They work with their authors to deliver manuscripts shaped for very particular audiences, and they don’t hesitate to push their authors until they get what that target audience needs. They know that for every book that fails because the audience is too narrow, hundreds fail because the audience is too broad.
They always have their book covers and interiors designed by professional book designers, even if they have a niece who went to art school.
They understand how to wisely conduct market research. Instead of wasting funds on focus groups and other auxiliary market research, they focus their efforts on their consumer audience and conducting competitive research of similar titles to gain a firm grasp of how their book is unique to the marketplace.
Their books are very cleanly designed, copy-edited, and typeset, but they never ask their customers to pay extra for a level of quality that is not wanted: for instance, 80lb paper or a sewn binding in a book that will only be read once or just a few times.
They put an enormous amount of time into imagining the ideal realization of each book so the finished product is harmonious and (this is the really hard part), somehow, exactly right for the book’s subject and intended audience. They spend a lot of time in bookstores looking over the merchandise with a skeptical eye.
They don’t think for a second that publishing a title as an eBook somehow makes strong content and excellent design irrelevant.

Ethical Considerations

Successful indie publishers treat their employees with unusual care and consideration, because they know a productive employee at an independent press could earn a higher salary working in a different industry—almost any other industry.
They remember that the publishing community is small and that their reputation will precede them. They under-promise and over-deliver.
They understand the power of the printed word and that what they do as publishers can have a cultural influence, for good or ill, completely out of proportion to the dollars generated by their books or the number of copies sold.
They are serious people, well worth knowing.

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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An Update on Amazon and a New Direction for Gone Publishing

IPG and Amazon have agreed on terms. As of Friday, May 25th, the 5,000 IPG Kindle titles that were taken down in late February have been put back up on the Amazon site, plus an additional 500 new Kindle titles prepared by IPG over the last three months have been added. To help make up for the lost eBook revenue suffered by its client publishers, IPG will distribute Kindle editions at no charge to publishers for the period from June 1st to August 31st, 2012. As for the overall health of IPG and its client publishers, year-to-date sales are up 26% over last year.

These are complicated times in the book business. While IPG certainly does not seek conflict with its customers, it may be that a certain amount of pushing and pulling is inevitable in our industry until settled terms of trade for the new electronic book formats can be agreed upon by all participants. We hope that our dispute and subsequent agreement with Amazon have helped to advance this difficult but necessary adjustment.

The recent news accounts of the way the “Big Six” publishers operate have made it perfectly clear that independent publishers inhabit an essentially different world. This blog will now return to its original purpose, which is to promote a well-informed discussion of that world. Knowledgeable guest bloggers will be invited to express opinions that challenge received wisdom, and IPG will not shy away from posting well-argued comments even if they rock a few boats.

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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The Trouble with eBooks: A Recap

Most of the blog posts put up in this space over the last two months have circled around three very major issues in regard to eBooks. Here they are, together with an account of what if any progress has been made in resolving each of them.

eBook Distribution: What’s the Deal?:
No one who is really privy to hard information about what is going on is able or willing to speak out.

Non-disclosure and Confidentiality Agreements, Most Favored Nation Clauses in distribution contracts, and then out of nowhere, the Department of Justice restraint of trade litigation against most of the biggest houses—all these things conspire to silence any informed debate about the issues. And to be blunt about it, most independent publishers feel abject terror at even the thought of confronting Amazon’s enormous market power. This part of the problem has not improved at all.

Market Share: You’d Be Surprised What the Big 6 Controls:
“The Big Six publishers, who control about half of the entire market for trade books, have been able to drive a better bargain with Amazon than the independent publishers could.”

A structural difference of that magnitude (roughly 20 points of discount) would put the independents out of business in short order (See also At What Discount Should Publishers Sell Ebooks to Resellers). This part of the problem may have eased a bit. The Department of Justice’s litigation could have the effect of largely taking away the discount advantage briefly enjoyed by the Big Six which would level the playing field. We will see.

The Oxymoronic Notion of Digital Content: Part II:
“The 50% plus take that Amazon insists on for distributing eBooks from independent publishers bears no relation at all to the cost of delivering that service.”

A free market and real competition would squeeze out excessive margins wherever they might be found in the supply chain from author to book consumer. So far we have not had anything like a free and competitive market for eBooks. On this issue, however, there is some very good news on the horizon. Microsoft’s investment in Barnes & Noble’s eBook programs is very welcome. Two other eBook programs, which look to be robust and publisher friendly, are well in the works. Of course for the reasons explained in point one above, I can’t tell you a thing about them.

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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Who Will Stand Up for Books as Books?

orig image theamazingworldofpshychiatry.wordpress.comThe word around the blogosphere assumes that publishers are angry about the state of the book marketplace because their superannuated business model is about to be blown away, and that’s a good thing because that old model makes books too expensive, excludes too many fine authors, and makes too much money for greedy owners. Most of this sounds like sour grapes, or misinformation, or as I pointed out in a previous blog, a way for dot-com start-ups to make money.

But what’s really driving publishers crazy is the fact that the big movers and shakers in the book business at the moment—Amazon, Apple, and now here comes Microsoft—are not really in the book business at all. Amazon uses books as a loss leader to sell more expensive things. Apple really cares about electronic devices. Microsoft wants to make Windows an eBook reader operating system. The publishing industry is being batted around like a shuttlecock by players who don’t much care about, or even care for, books. Who is standing up for the book itself?

While it is true that in terms of sales, each of these companies generate more than the total of all of the book publishing conducted on our planet, aren’t books important enough in their own right to be the focus of an industry? Aren’t we courting cultural disaster if books become just a means of selling something else? Is economic power the only legitimate measure of everything?

Despite all the cynical commentary on many blogs, publishing professionals are not just worried about keeping their jobs. Most of them care deeply about books and are easily talented enough to make a better living doing almost anything else. Serious publishers, distributors, editors, designers, booksellers, book reviewers, librarians, author agents: these highly trained specialists bring an enormous amount of expertise to the making and distribution of good books. People who really know and care about books should be in charge of the business of books.

Curt Matthews
CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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Market Share: You’d Be Surprised What The Big 6 Controls

Independents v Big 6 Market Share
(Based on Nielsen Bookscan Data)

How Much of the Total Market for Books is Controlled by the Big Six Publishers?

I have not seen any sort of figure, hypothesis, or guess in any article or blog about this question, which is odd, because the extent of the market domination of these giant publishing houses is a crucial factor in understanding the issue of the Agency Model versus the Wholesale Model for eBook sales.

There is a quite complete account of this issue previously posted on this blog under the title “At What Discount Should Publisher Sell EBooks to Resellers,” but the short version is that the Big Six used their market power to compel Amazon and other resellers of eBooks to accept 30% of sales while all the other publishers have so far had to give Amazon and most of the others 50% of sales (Apple deals with everybody on agency terms). Obviously, the extent of the market dominated by the Big Six is a fact we need to know.

A week or so ago, I logged on to the Bookscan website (this is a subscription only service, provided by Nielsen to the book industry, that tracks point-of-sale data gathered from most of the booksellers in the US.) I added up all the year-to-date unit sales of the Big Six, and then divided by the year-to-date unit sales for all of the publishers tracked by Nielsen. The answer to this curious math problem turned out to be roughly 51%.

How reliable is this percentage? There are of course many experts who will find fault with any straightforward assertion; the Truth, they will tell you, is always far, far more complicated than you think. Here are some sample objections: Yes, this 51% is units rather than dollars. Yes, many companies that sell books as a sideline are not tracked by Bookscan. Yes, it is probably true that some professional books and text books get counted.

But let’s not allow the perfect to be the enemy of the very good. The Nielsen data is based on sales to consumers, not on shipments by publishers to stores, which used to be the only data we had. The actual market share of the Big Six may well be some points higher or lower than 51%, but so what? All we need here is a reliable generalization.

Is 51% a large share or a small one? I think it is about right. The book industry needs some very large players with big marketing budgets and high-profile authors to keep the American public excited about books. And if the big guys have 51%, that leaves plenty of room for some quite big and well-established independents such as Norton; for quite a few middle-sized prosperous ones like Chicago Review Press; and for the thousands of small houses who are prospecting for the new authors and subjects that will feed our intellectual life in the future.

So if these independents have 49% of the market, isn’t that enough for them to find a way to get a fair deal with the resellers, a deal that does not keep them at such a tremendous competitive disadvantage to the Big Six?

Curt Matthews

CEO, IPG/Chicago Review Press, Incorporated

Curt Matthews is the founder and CEO of Chicago Review Press, Incorporated, which is the parent company of Chicago Review Press and of Independent Publishers Group (IPG), the first independent press distributor and now the second largest. Curt has served on the Independent Book Publishers Association (IBPA) board and has also served as its president.

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