Penguin Random House US ceo Madeline McIntosh shared with the company results of their employee demographic analysis, which paints a stark picture: “I don’t think any of us is likely to be surprised by the data, which show that our company, like our industry, is far too homogeneous. But seeing what we generally know to be true documented this way is hard: the distance we have to travel to become a truly diverse company feels all the more daunting when you look at the numbers. “But, rather than feeling discouraged, I hope that you will instead join the commitment the […]
New Books Publishing September 8
The big releases continue, with fiction from Fredrik Bachman, Sigrid Nunez and Ruth Ware, plus nonfiction from John Cleese, Jane Fonda, Jenna Bush Hager, Reed Hastings, Jay Shetty and more. As in previous weeks, our sample Bookshop and Aerbook store carousels provide easy displays of books publishing today in need of attention and support, featuring: 17 new works of fiction https://bookshop.org/lists/new-fiction-publishing-september-8 19 new nonfiction titles https://bookshop.org/lists/new-nonfiction-publishing-september-8 More new children’s and YA titles https://bookshop.org/lists/new-children-s-titles-publishing-in-september We consult a number of sources in compiling our weekly lists and PM members can see our lists for the coming three months through this reference page. But if you want to […]
Frankfurt Book Fair Cancels Live Exhibition
The Frankfurt Book Fair has been forced to abandon plans to convene a smaller, live version of the trade event in October, due to new quarantine rules effective October 1 that would “make it nearly impossible for European exhibitors and trade visitors to participate.” US publishers were already blocked from attending, Canada had postponed their appearance as guest of honor, and the largest international publishers — including those headquartered in Germany — had already declared months ago they would forgo any live exhibition. Until people go back to the office, they are not going to think about attending book fairs. […]
Corporate: Abrams Acquires Cameron, Bonnier UK Makes Flexible Work Permanent, and More
Abrams has acquired Cameron + Company, a family-owned publisher based in Petaluma, CA, publishing books with a focus on photography, art, food and wine, children’s books, and topics of regional interest. Abrams has distributed the line since early 2018. Cameron + Company will be a separate division under Abrams, with vice president and publisher Chris Gruener reporting to Abrams president and ceo Michael Jacobs. The current staff will remain based in their offices in Northern California. Separately, Hardie Grant has bought out Egmont, their joint venture partner in Hardie Grant Egmont, and will rename their children’s line Hardie Grant Children’s […]
Rabe Says Bertelsmann Is Interested In Bidding for Simon & Schuster
Bertelsmann ceo Thomas Rabe told the Financial Times, “We would, of course, be interested in Simon & Schuster.” He noted, “We’ve been the most active player on the consolidation of the book publishing market in the last 10 years.” Any potential purchase would be subject to review, and would add 30 percent or more to Penguin Random House’s US revenues and unit sales. But Rabe does not believe they would be blocked by the government: “We looked at this and we don’t think it is an issue. If you look at the market holistically, particularly the strength of Amazon, and […]
“Resilience” at PRH US Keeps Companywide Sales Down Slightly In First Half
Bertelsmann reported results for the first half of the year on Tuesday morning, with book publishing as one its more resilient divisions during the pandemic. Sales at Penguin Random House were down 1.4 percent, or €23 million, at 1.627 billion. Operating EBITDA was 7.9 percent lower, at €209 million, €18 million lower than a year ago. As at other publishers, a 15 percent increase in digital sales (which had been roughly 20 percent of overall sales) helped offset declines in print sales during the pandemic. Unlike other publishers, remember that PRH’s accounting practices now count the full consumer price paid […]