Greater focus on fewer titles
The Danish publishing industry is undergoing major transformation. When the market becomes fully liberalised in January 2011, publishing houses will have to compete more fiercely for bestsellers while also preparing the ground for the digital market. Lindhardt og Ringhof has had success with digital initiatives and discovered a formula that can help create bestsellers.
‘Lindhardt og Ringhof is launching several different initiatives in the digital area. For one thing, the app we launched for iPad and iPhone featuring seven Hans Christian Andersen is on the top list of iPad and iPhone app downloads,’ explains managing director Anette Wad. She has just arrived at her office following the monthly morning meeting with the publishing company’s entire staff. In future, their daily work routines will reflect an increasingly digital organisation, with more teams working together company-wide as they strive to attain the goal of delivering a 360-degree service pack to authors.
Bestsellers will be more important in future
‘On 1 January, fixed retail prices for books will become obsolete, a change that will put far greater pressure on the saleability of any given title. Previously we were a protected industry, now everything is up for negotiation – prices in particular. Our goal is therefore to publish fewer titles and market them more intensively,’ explains Anette Wad.
‘On 1 January, fixed retail prices for books will become obsolete, a change that will put far greater pressure on the saleability of any given title. Previously we were a protected industry, now everything is up for negotiation – prices in particular. Our goal is therefore to publish fewer titles and market them more intensively,’ explains Anette Wad.
One way to create national bestsellers could be to enter long-term cooperation agreements with potential bestseller authors for two to three titles, for example. The publisher can then devote all its resources to helping the author not only as regards sales but also during the editing process and the development of merchandise such as digital editions of the book. The book will then get the broadest possible launch on multiple channels simultaneously. Far more publishing company staff will also be involved in each book from the start. As soon as an author is considered for publication, the sales, marketing, press relations and editorial departments will all be on board.
‘In future the main success criteria for publishers will be relations with authors and how to create value for them. Excellent publisherauthor relations are our core competency. Our authors should feel they are under the wing of a publishing company that works as a team at every stage from editing, PR and marketing to sales. The author must encounter a strong team line-up.’
New formats
‘As a publisher we must be able to go that extra mile in future. We need to be far more agile and deliver services not currently among our offerings – digital projects, for example. We therefore welcome the establishment of Egmont’s digital centres because they have given us access to competencies other publishers lack,’ Anette Wad concludes.
‘As a publisher we must be able to go that extra mile in future. We need to be far more agile and deliver services not currently among our offerings – digital projects, for example. We therefore welcome the establishment of Egmont’s digital centres because they have given us access to competencies other publishers lack,’ Anette Wad concludes.
Three Danish trends
Bestsellerism
The number of books sold has remained unchanged in recent years but the trend is crystal clear. Bestsellers will become increasingly important for publishing economies because sales will be concentrated on far fewer titles. A greater number of the same type of book is being sold, and a narrower range.
The number of books sold has remained unchanged in recent years but the trend is crystal clear. Bestsellers will become increasingly important for publishing economies because sales will be concentrated on far fewer titles. A greater number of the same type of book is being sold, and a narrower range.
Print-on-Demand
Digital book printing is now so cheap that any given title can be produced as a small print run. This is undeniably a good business model for publishing companies because the new technology allows them to keep their backlists alive without having to tie up stock in a warehouse. The print-on-demand technology also benefits debut authors because the publisher can produce their works at little risk to its business.
Digital book printing is now so cheap that any given title can be produced as a small print run. This is undeniably a good business model for publishing companies because the new technology allows them to keep their backlists alive without having to tie up stock in a warehouse. The print-on-demand technology also benefits debut authors because the publisher can produce their works at little risk to its business.
Shorter lifetime
The lifetime of a book has dropped from two years to six months. This presents a challenge when deciding the size of a print run, because the books have a shorter, more hectic sales span.
The lifetime of a book has dropped from two years to six months. This presents a challenge when deciding the size of a print run, because the books have a shorter, more hectic sales span.
Gallery
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The author Michael Katz Krefeld has been launched via new channels and platforms like Facebook, iPhone and iPad apps, online competitions and digital barcodes. His book has also been promoted in TV spots and other advertising.
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Although the market for digital books is growing, it still accounts for only a minimum portion of revenue. In its forecast for developments on the American e-book market, the leading consultancy company PricewaterhouseCoopers estimates that in five years e-book sales will account for less than 10% of the total book market.
Michael Katz Krefeld a new author relationship
In early November Lindhardt og Ringhof launched The Protocol by crime writer Michael Katz Krefeld, releasing it for sale in bookstores, supermarkets and webshops. At the same time the launch was supported by TV commercials, notices in weekly magazines and free copies in ALT for damerne. The massive advance publicity about the book and its author is no coincidence. Lindhardt og Ringhof had signed a contract with the author for three titles.
This has enabled the publishing company to give the author massive support, with the four departments – editorial, marketing, PR and sales – working in concert to help the book along. A team of 10-plus has worked to bring this particular title into the world. For marketing manager Jacob Harregaard, the entire process was a dream project.
‘A whole four months before the scheduled launch we were in a position to make detailed plans – not only as regards target audience and positioning but also in terms of identifying potential partners,’ he explains. Normally a book’s selling point is its content, but the partnership contract with Katz Krefeldt made it possible to launch a special campaign to sell the author behind the book as well as the book itself.
‘Our authors are brands in themselves – and their target audiences may be quite different from that of their books, a key point when building a long-term relationship with an author. We set fixed milestones that we evaluate regularly, and we have boldly ventured into multiple new media and channels,’ explains Jacob Harregaard.
