Baker & Taylor Closure
- Shocking, but not surprising. “The news of Baker & Taylor’s collapse represents a sudden end to what many saw as a slow-moving inevitability. For years publishers have complained about late payments from the vendor, and in recent months, sources say that several publishers had reportedly suspended shipments. As for libraries, a growing number of librarians had reported over the summer that their orders were taking many weeks to fill—if they were getting filled at all—prompting speculation about the company’s financial health.” Read Andrew Richard Albanese at Words & Money.
- Libraries look to fill the gap left by Baker & Taylor. Players such as Ingram, Bookazine, and Amazon are swooping in. Read Jim Milliot and Nathalie op de Beeck at Publishers Weekly.
Traditional Publishing
- What might the traditional industry look like in 10 years? This commentary by publishing-industry vet Paul Bogaards focuses on editors and acquisitions but also includes some sobering observations. He writes, “I could point to books that were acquired for seven figures but sold under 10,000 copies on BookScan (though I won’t, because, you know, it’s just math, and math has always been a part of the business, though the equations are more puzzling these days). Also, the track of many brand-name authors is in decline. I could point to several (many) brand-name authors whose tracks are experiencing double-digit declines but will not, because, you know, it is what it is, but it being what it is doesn’t explain why it is, and that’s what makes it so unsettling when you think about what the industry might look like in 10 years.” It reminds me of the last Authors Guild survey that revealed top authors have been seeing a decline in their earnings. Read at Kill Your Darlings.
- Bogaards also interviews a new publisher that doesn’t sell to Amazon. Panamerica Books gathers a paying audience through a newspaper called County Highway and uses a book club subscription model. Maybe this is part of what the traditional industry looks like in 10 years. Read. Going direct-to-reader certainly appears like a more sustainable model for small publishers, especially given the article below.
- In the UK, 22 independent publishers say they are experiencing an existential crisis. Small publishers are typically in precarious positions by definition, but tariffs, increased costs, and distribution issues have increased financial pressures. See the list of signatories, plus learn more from Lauren Brown at The Bookseller.
Audio
- Spotify says audiobook listening grew 36 percent in the past year. The number of listening hours also grew by about the same amount. The head of audiobooks at Spotify said short stories and children’s books have performed well because premium members can easily sample them in the Spotify environment. Seven out of the top 10 titles are backlist (older than one year), which mirrors listening behavior on other subscription platforms, like Storytel. When listeners use credit-based platforms, like Audible, frontlist titles dominate because they are considered more “credit worthy.” Read Ashley Carman at Bloomberg.
Self-Publishing
- Reese Witherspoon’s podcast invites its first self-published author. Ali Kriegsman is the author of The Raise, a satirical thriller. Kriegsman is a consultant and the author of How to Build a Goddamn Empire (Abrams); she sold her first company for eight figures. She is based in New York City. Listen. Separately, she wrote a guest article for Andrea Bartz’s newsletter about her book launch plan, which has a heavy social media component.
Culture & Politics
- Librarian wins $700,000 settlement after being fired. Former Wyoming library director Terri Lesley, who was fired from her post for refusing to ban certain types of books, sued over her dismissal. Under the settlement agreement, she is dropping her lawsuit, although she’s still suing three individuals who contested books in the library. Read Mead Gruver at the AP.
AI
- How to turn off AI tools in Apple, Google, Microsoft, and more. Consumer Reports offers step-by-step instructions. Read Thomas Germain.
- OpenAI’s Sora backpedals on its opt-out policy. When the AI video app Sora launched in late September, OpenAI announced it would operate on an opt-out policy, meaning rightsholders who objected to having their IP used by Sora would have to notify OpenAI to have it removed. Hollywood did not respond kindly, so OpenAI tightened up its policy; nonetheless, OpenAI’s Sam Altman says the situation will involve a lot of “trial and error” and to “expect a very high rate of change.” Read Jack Dunn at Variety and Sam Altman’s statement.
- Question anyone who claims AI has led to lost jobs (so far). AI is a favored scapegoat right now when it often has little or nothing to do with a tough job market or layoffs. Most labor changes predate the introduction of AI. A new study from Yale explains. Read Martha Gimbel, Molly Kinder, Joshua Kendall, and Maddie Lee at the Budget Lab.
Jane Friedman has spent her entire career working in the publishing industry, with a focus on business reporting and author education. Established in 2015, her newsletter The Bottom Line provides nuanced market intelligence to thousands of authors and industry professionals; in 2023, she was named Publishing Commentator of the Year by Digital Book World.
Jane’s expertise regularly features in major media outlets such as The New York Times, The Atlantic, NPR, The Today Show, Wired, The Guardian, Fox News, and BBC. Her book, The Business of Being a Writer, Second Edition (The University of Chicago Press), is used as a classroom text by many writing and publishing degree programs. She reaches thousands through speaking engagements and workshops at diverse venues worldwide, including NYU’s Advanced Publishing Institute, Frankfurt Book Fair, and numerous MFA programs.