The Children’s Bookseller Conference 2022 was an engaging and informative event full of captivating stories and issues within the publishing industry. Something I found particularly interesting was keynote speaker Aimee Folene’s exploration of independent publishing industries. The success of her publishing company Knights Of inspired me to examine the distinct types of publishing houses within the industry and the nature of these companies. In a world where four or five publishing companies dominate the industry, I will examine the pros and cons of both independent publishing houses and larger multinational companies and question if one is more valuable than the other.
The publishing industry is, for the most part, dominated by five large companies and their imprints. International publishing companies such as Penguin Random House and HarperCollins experience several advantages in the world of publishing. Penguin Random House has a revenue of 4 billion euro and HarperCollins 1.985 USD. This gives them a clear advantage fiscally as well broadening their opportunities regarding the workforce and technology they have at their disposal.. These elements would have a clear influence on the likelihood of them achieving their target goals when creating and launching a product.
Almost all independent publishers can face challenges finically and barriers when attempting to reach a wider audience. Smaller publisher are at risk of getting hit with larger bills and being priced out by bigger companies. The cost of production for books is rising and the inflation of goods and services is causing many independent publishers to struggle to stay in business. Therefore, at times authors and literary agents may feel it is more of a risk for to go to unknown or independent publishers. This risk analysis along with the challenges associated with smaller publishers being able reach a wider audience is something that could deter authors from associating their book with a smaller brand. Smaller publishers may struggle to influence and promote their product to same degree as larger publishers and may find it challenging to engage social media to the same degree. Another consequence of the struggle of independent publishing is the requirement for staff to sometimes engage in multiple jobs at once and cover a large field of expertise because of the changing pace of the industry and emergence of new roles. Editorial and marketing roles are sometimes required to undertake multiple jobs instead of just one. Independent publishers may also be required to occasionally outsource material if they do not have the resources or capabilities to do everything required for a book’s publication within house methods.
Despite the obvious challenges and risk associated with independent publishing business, there are many positives and rewarding outcomes also involved. Most independent publishers have a special interest or passion they are motivated by which makes the venture a rewarding and uplifting experience. As well as this many indie publishers offer a level of personalization and care larger companies cannot use. Sometimes authors may feel pressured to go to a big publisher when it may not be the best choice and they may not offer the same level of personalization care or attention to detail.
An example of this is the Geronimo Stilton series. A largely successful series of children’s stories featuring around an adventurous Italian mouse, trying to break into the European market. One of the well known big five publishing companies that dominate the publishing industry was originally granted the rights to this title, however it did not achieve the success anticipated and was axed. Subsequently an independent children’s publishing business known as Sweet Cherry Publishing House was given the rights to the Geronimo Stilton works.
The involvement in Sweet Cherry Publishing in the Geronimo Stilton European revival resulted in the series having an extremely successful debut and afterlife. As a local British and independent children’s publishing house they offered a level of personalisation and care larger publishing houses did not. As well as hosting events full of effort and detail such as having people dressed as Geronimo Stilton the company also printed colouring Pamphlets to introduce the character of Geronimo to children. One of the main attributes to the franchises success in the European market after a previous failure was Sweet Cherry Publishing’s decision to redesign these works paying particular attention to children with disabilities. Despite Geronimo Stilton being advertised as disability friendly many of the pages in their previous editions were very bright and confusing with text on various parts of the page. Sweet Cherry Publishing simplified and enlarged the text, changed the font and changed the images from colour to black and white. Sweet Cherry publishing as a brand is a example of the success and inspiration independent publishers have the capacity to be. The children’s publisher was awarded Midland’s Small Press of the Year at The British Book Awards 2021 and was nominated in the Best Written Range category at the 2020 Licensing Awards. The brand has sold over 175 million Geronimo Stilton books worldwide in 51 languages.
The publishing industry is a varied landscape with various models and business types. There is both positives and negatives to independent publishing businesses and larger multinational companies. As for my own opinion, when taking diversity and inclusivity into account I think it is culturally and socially important and ethical to not have five companies control and dominate the entire publishing industry. To make the industry more intersectional, feminist and BAME inclusive and break the barriers of class we need to allow smaller companies to thrive in this industry as well. Often these independent publishers have meaningful and vocational work they specialise in and are enthusiastic about but there are barriers that make engaging with or working in independent publishing business more of a risk. The industry should work to eliminate these economic and social barriers. Though small publishers might not seem as powerful, we can be surprised. It is hard to have a concrete and definitive answer on which model is the best for authors and literary agents. Perhaps this is something the reader would like to think about for themselves after reading. What do you think?
MSc Publishing – Industry Accredited Postgraduate Degree 