10 lessons from BIC’s New Trends in Publishing Seminar
Attending an event on ‘new trends’ seems apt at this time, just as everyone is ramping up on their Frankfurt preparation. We took away much more than 10 lessons from this jam-packed morning – but thought 10 might just whet your appetite for now.
Ruth Jones (Publisher Business Development, Ingram Content Group):
- Amazon chose to go to market first with books, because books are well-ordered and categorized. Publishers understand their IP and know how to sell under ‘normal’ conditions – which helps to ride any waves of uncertainty and makes experimentation easier to manage.
- It is thought that young people who spend time online have small attention spans as they constantly engage with bite-size content. This is just not true – they have huge attention spans, but only for content that is relevant, engaging and personalized to them.
Richard Orme (Chief Executive, DAISY Consortium):
- Captain Ian Fraser lost his sight during Battle of Somme. Because of this, he worked with RNIB to find a reading machine for other blind soldiers. RNIB and DAISY now work with publishers to make sure as many books as possible are published in accessible formats so they can be enjoyed at the same time by anyone, regardless of their reading requirements or preferences.
- The Marrakesh Treaty facilitates access to published works for people who are blind, visually impaired or print disabled. It was the fastest UN treaty to ever be signed, and it comes into force on 30th September 2016. The Treaty lays out specific rules for accessible formats.
Natalie Smith (Associate, Harbottle & Lewis):
- The data protection act was made in 1998, so needs updating in line with changes to the way businesses operate. The EU General Data Protection Regulation (GDPR) comes into direct effect in the EU from 25 May 2018. It will result in big changes, and higher penalties for misuse of data.
- Even if the UK leaves the EU, we will still need to comply and adjust to the GDPR standards, because they will have a new extra-territorial scope for those, from outside, who do business with the EU.
Andre Breedt (Director Book Research International, Nielsen Book):
- New research from Nielsen shows that the most important element of successful book sales is uploading a cover image with your book data. 83.2% of books sold had a ‘full-set’ of metadata assigned to them.
- Timing is also important for a successful book launch. It is advised by BIC that metadata is provided 16 weeks prior to a publication date.
Florin Craciun (Head of Sales, Ingenta):
- Your backlist, is another publishers frontlist. In other words – a good place to look, when trying to increase revenues is monetization of the backlist.
- Revenue from rights departments flows to the bottom line. Historically there has been minimal investment in the infrastructure of rights departments; and this too, can be an ideal place to focus for increased revenues.
Thanks to BIC for hosting such an interesting event!