When it comes to the publishing industry, the domain has seen several changes due to varying trends. The amalgamation of brilliant minds, innovative ideas, and, most importantly, emerging technologies have encouraged its huge growth. For this reason, the publishing industry is standing strong, with $28.1 billion in revenue as of 2022.Just like other years, 2023, too, has … [Read more...] about 4 Book Publishing Trends for 2023
Digital Publishing News
ByteDance’s New Book Company: Threat for Publishers and Authors?
Image credit: hollywoodreporterFor the past few years, a hashtag called BookTok has been trending in the short-form video hosting platform TikTok. As per its Wikipedia page, the term indicates a subcommunity on TikTok that's dedicated to books/literature.There have been millions of posts on TikTok with this hashtag, with more of them adding up each day. Moreover, the … [Read more...] about ByteDance’s New Book Company: Threat for Publishers and Authors?
2023 Non-fiction Bestsellers: Prince Harry’s Spare Tops the List
Image credit: BBCThe list of 2023 non-fiction best-selling books is here, and this year it's all about Prince Harry and many other self-help books. The title list, which was provided to Forbes by Circana BookScan (responsible for monitoring the US sales), includes Prince Harry's memoir called Spare as the number #1 selling book with sales of more than 1 million … [Read more...] about 2023 Non-fiction Bestsellers: Prince Harry’s Spare Tops the List
Authors sign open letter to AI CEOs
In April, The New York Times wrote a piece tracking the progress of a baby AI which learned from "reading" only Jane Austin Novels. The article states, "(AI's) are trained by going through mountains of internet text. In just an hour of training on a laptop, a language model can go from generating random characters to a very crude approximation of language." The article goes on … [Read more...] about Authors sign open letter to AI CEOs
Review Bombing: A New Threat to Authors
Book reviews are a great way for readers to get brief and honest deliberations on their favorite titles. It gives a clear insight to the readers of the book content so they can understand whether the book is worth investing their time/money or not. While book reviews can be helpful, today's world is filled with goons and trolls who target the authors purposely. Instead of … [Read more...] about Review Bombing: A New Threat to Authors
Italian Publishers Lost €771 to Book Piracy in 2021
In 2019, the Association of Italian Publishers and the Italian Federation of Newspaper Publishers conducted research to determine the scale of piracy in the Italian market. The study was reported in January 2020, revealing an annual loss of €1.3 billion to the Italian books and newspaper industry.A follow-up study was released in March 2022, reporting that book piracy cost … [Read more...] about Italian Publishers Lost €771 to Book Piracy in 2021
HarperCollins and KKR to Bid on Simon & Schuster
Paramount Global has put its book publishing house on sale again, inviting bidders. HarperCollins and KKR & Co are two of the leading names in the list of bidders, the Wall Street Journal reports.Last year, Penguin Random House entered into a $2.2bn deal with the media company to buy Simon & Schuster. But the merger collapsed after the federal judge Florence Pan … [Read more...] about HarperCollins and KKR to Bid on Simon & Schuster
Books Without Barriers: New Guide for Australian Publishing Industry
In November 2022, the publishing industry in Australia decided to become more equitable and inclusive with time. This could be justified by the endeavor of the Australian Publisher's Association (with the support of IPEd, Institute of Professional Editors) to ensure a diverse representation of the publishing industry. Back then, IPEd backed APA for its initiatives.Months … [Read more...] about Books Without Barriers: New Guide for Australian Publishing Industry
Book.io: The Future of the Publishing Industry
The publishing industry has evolved to become more advanced and progressive with time. While earlier their approach was limited to traditional practices, now, with technological advancement and the evolution of e-books, it has become more efficient. This could be justified by the rise of Book.io, a web3 marketplace that offers best-in-class e-books and audiobooks for buying, … [Read more...] about Book.io: The Future of the Publishing Industry
KKR Likely to Sell Audiobook Publisher RBmedia
As per recent sources, KKR, the leading global investment company, is preparing to sell its portfolio company and audiobook publisher RBmedia. The price for the sales is likely to be $2 billion. KKR is known for offering diverse services like alternative asset management, insurance, and capital market solutions. They are renowned for generating high returns through a … [Read more...] about KKR Likely to Sell Audiobook Publisher RBmedia
How AI is Changing the Book Publishing World
Artificial Intelligence (AI) has touched almost all aspects of life, and book publishing is no exception. There has been news that authors are spamming out Kindle Books using ChatGPT, which is a famous AI content generator. Ink AI has introduced a ChatGPT e-book generator that can create full-length e-books quickly and easily. In response, publishers are also taking initiatives … [Read more...] about How AI is Changing the Book Publishing World
Harry Potter Publisher – Bloomsbury – Sees Record Sales
Bloomsbury – the UK's most famous publisher renowned for the Harry Potter series- has recently reported a 15% increase in sales with a 16% increase in profit. The publisher chalks this success to allies – TikTok and the ongoing macroeconomic hellscape. Harry Potter During the Inflation According to CEO Nigel Newton, with increasing living costs, books are an affordable form … [Read more...] about Harry Potter Publisher – Bloomsbury – Sees Record Sales
Books Over Streaming Services: Here’s What the CEO of a Top Publishing Says
Bloomsbury Publishing CEO Nigel Newton recently said how people could get many books worth of the Netflix subscription that they generally spend on. Comparing the price of books to the monthly Netflix Premium subscription of $19.99, Newton said people could buy two titles monthly and 24 titles a year for the amount of money. He further mentioned how paperbacks are cheaper than … [Read more...] about Books Over Streaming Services: Here’s What the CEO of a Top Publishing Says
US ebook sales declined by 6.5% in 2022
Digital book sales in the United States continue to decline. Throughout 2022 the format fell by 6.5% and generated 1.95 billion dollars in revenue. Except for 2020, the first year of the pandemic, ebook revenue has declined yearly since 2014. Digital audiobook sales continue to grow at a torrid pace. Digital Audio revenue increased, climbing 2.6% to $1.81 billion. Income … [Read more...] about US ebook sales declined by 6.5% in 2022