AALBC .com Platinum Poster
Post Number: 1631
|Posted on Sunday, December 21, 2008 - 04:41 pm: |
Urban_scribe, I'll have to print and read the articles off line and get back to you. But having quickly scanned them I can tell I probably will not find what I was looking from you. Basically the articles seem to present a wide variety of stats. The only real data I was looking for was perhaps a comparison of Ď08ís net incomes or revenues with prior year to support the statement "FACT: 2008 was one of the worst fiscal years in publishing history." In reality, Ď08 is far from one of the worst years in publishing. If you like you can simply look at the number of new books published his year and compare that to prior years.
Be careful looking at individual company share prices when assessing an industry. Sure Amazonís share price may be down, but they are seeing records sales if I recall. B&N share price is down, but Amazon was cleaning B&Nís clock before this economic shock.
Also you have to look at the underlying company for large multinationals like Lagardere and CBS (whose Simon and Shuster, If memory serves, are not doing that badly year over year).
Again, if you tell me that an individual business with an antiquated model is hurting in a bad economy, I can not take that to mean that the overall industry is hurting or no longer viable.
Sure the economy is bad, indications are that it will get worse. However I believe as Hen81 pointed out that the publishing industry is not working optimally. The economic crisis has simply exacerbated an existing problem. As I said I think these conditions open up more opportunities for smart publishers Ė not less. But even the smart ones have to work hardÖ
A_womon, not all businesses are suffering. í08 will be AALBC.comís best year. We already know as ad sales for print publications continue to decline there is more demand for on online advertising, which is more economical given the $ spend per consumer touched. In fact I have to do less selling as ad network like Google generate move revenue per impression that in yearís past.
In addition there are more people self publishing and as a result more opportunities for providing services to authors. Obviously a bad economy puts downward pressure on book prices, so online book sales, where book are less expensive goes up.
Even the initially maligned fee based book review is seeing greater demand. Kirkus has raised their fees ove the years and as this articles suggests that other entities will enter this business.
There are many business that can do well in this type of economy and I believe publishing is one of them.