Last month, Bertelsmann unveiled the first part of an ambitious digital multi-media subscription service in Germany from their giant broadcasting subsidiary, called RTL+. Starting with a rebranded version of their previous service streaming service, by the second quarter of next year the new multi-media subscription will combine “video, audio, magazine, and book publishing assets” from across Bertelsmann divisions. Bertelsmann ceo Thomas Rabe told FAZ, “Our idea is: one app, all media,” adding that, “There is no other offer like this in the world.” Their goal is 10 million subscriptions by 2026 in Germany and the Netherlands. RTL’s existing video streaming […]
Hachette UK’s Shelley Expects Supply Chain Challenges to Continue
Hachette UK CEO David Shelley told authors in his annual letter that supply chain challenges have been “the most extreme that I have seen in my 24 years in publishing” and he notes that “it is clear that these will be ongoing issues and that 2022 will be marked by them.” While some of their issues have been exacerbated by Brexit, other elements are shared by US publishers: “One of the issues our team have been grappling with is a worldwide shortage of paper. Due to unexpected surges in sales in all markets during Covid lockdowns, the world has gone […]
More Indications of A Strong Year, with Big Gains for Print Fiction
Further to Monday’s report on data from the AAP and NPD Bookscan suggesting the year’s strong book sales are likely to hold up through the end of the year, NPD Bookscan analyst Kristen McLean wrote in her November sales analysis, “The US Book market is pretty much locked in for a strong end of year.” While backlist has continued to drive sales all year, as it did in 2020, comprising over two-thirds of all unit sales, McLean noted, “Supply-chain issues did not affect November frontlist share. In fact, frontlist share gained one year-to-date share point, up from 31% last month.” […]
UTA Launches SPAC; SAGE to Be Controlled By Trust
Privately-owned talent agency UTA has entered public markets by launching a special purpose acquisition company. The IPO raised $230 million with a plan “targeting businesses in the gaming, digital media, creator economy, entertainment and technology industries.” That’s ahead of an initial plan to raise $200 million. It trades as UTAAU on Nasdaq. Former Nintendo president Reggie Fils-Aime serves as chair. UTA’s Clinton Foy is co-CEO alongside Jamie Sharp, with UTA’s Ophir Lupu as president. Elsewhere in finance, founder and owner of academic publisher SAGE Sara Miller McCune has transferred her voting shares and control of the company to a trust, […]
Good October Continues Great Year for Trade Publishers
The AAP reported their monthly StatShot statistics for October from participating publishers, recording another strong month as retailers stocked up for the holidays ahead of expected supply chain issues. Trade publishing sales were $1.042 billion — what we believe is the first time AAP-monitored sales have ever topped $1 billion in a single month — up $143.5 million, or 16 percent higher than a year ago. Adult sales of $712 million were up $104 million, with hardcovers growing by 14.5 percent (up $41 million) and trade paperbacks rising a big 35 percent (up $49.5 million). Children’s and YA sales of […]
Legal: Court Sends Foundry Dispute to Mediation
Judge Joel M. Cohen approved the joint request by former Foundry Media partners Yfat Reiss Gendell and Peter McGuigan to send their dispute to the court’s non-binding Alternative Dispute Resolution mediation program. If the mediation fails to resolve the matter, the parties will appear back before Judge Cohen for a conference on February 15. In the meantime, as requested, the discovery and motion schedule was extended, pending the results of the mediation.