Fairly Trained is a newly-launched nonprofit that “certifies generative AI companies for training data practices that respect creators’ rights.” Their first certification — denoting licensed models — is awarded to “any generative AI model that doesn’t use any copyrighted work without a license.” to begin with, they have certified nine companies, most of which involve generative AI music. The venture is supported by a number of music industry groups — Universal Music Group, the Association of Independent Music Publishers, Concord, and Pro Sound Effects — but also the Association of American Publishers. And AAP ceo Maria Pallante is among the advisers […]
Malaviya Highlights Company “Action Items”
In a note welcoming employees back from the holidays, Penguin Random House ceo Nihar Malaviya shared three “company-wide action areas” that management has decided to focus on based on the 2023 employee survey. One focus will be on company strategy, in order to “create greater clarity about the global strategy by increasing the frequency of both local and global strategy communications.” Another item is “psychological safety—emphasis on feedback culture.” He writes that they will “continue to work on creating an inclusive and psychologically safe environment for employees at every level, one that fosters the free exchange of feedback, ideas, and […]
Obituary: Mihai Radulescu
Mihai Radulescu, 82, died of cancer on January 6. Husband of literary agent Marly Rusoff for 39 years, Radulescu worked alongside her at Marly Rusoff & Associates as director of foreign rights and CFO. Along with Rusoff he was also a founding board member and webmaster at The Pat Conroy Literary Center in Beaufort, SC. Memorial gifts would be gratefully received in Mihai’s name by the Pat Conroy Literary Center.
Print Sales Finish 2023 Down Modestly
Following a strong final pre-Christmas sales week, as we reported over the holiday break, Circana Bookscan’s week 52 of 2023 print sales was about 400,000 units below the comparable week from a year ago. Better-than-expected print book sales for November and December left 2023’s total units just 2.58 percent below 2022 — at 767 million units, versus 788 million units a year ago. That puts 2023 modestly above 757 million units in 2020 and well ahead of 2019’s 697 million units from the “before times.”
Fourth Quarter Deals: Fiction Rises, Nonfiction and Children’s Declines
Today we report on dealmaking statistics for both the fourth quarter of 2023 as well as the full year — which means that most of our focus is on the annual trends. To recap: Q1 deals were weak — due in large part to the strike at Harper Collins and continued conservatism at Penguin Random House — and then sales rebounded in Q2, helped by later dates for the book fairs, with particular strength in the bigger six-figure deals. Q3 deals declined again, even as major deal reports hit record levels. Fourth quarter deals continued to paint multiple pictures. Adult […]
2023: The Year In Deals
Today we report both fourth quarter and full-year 2023 statistics for US deal reports. Dealmaking patterns were somewhat in line with sales in 2022, as most key domestic deal statistics ebbed from record levels in 2021 but still held at high levels relative to previous years. Things did soften after a strong first quarter, and then picked up a bit in the fourth quarter. In particular: – US deals finished down by 2.7 percent — like print sales as measured by Circana Bookscan, the third-best year in recent charting, and well ahead of 2020 and earlier years. – Adult Fiction continued its […]