Three months ago, the University of Toronto Press (UTP) reported that it is facing significant financial issues because of lack of space at its three storage locations in Ontario as well as the need to maintain these spaces.
“What we’re trying to do is solve this problem… We’re open to talking to people who have solutions,” said UTP’s Vice-President of Distribution and Retail Jason Farell in an interview with CP24.com.
Interestingly enough, small publishers in Canada may have the solution.
Small publishers in Canada actually make up the majority of publishing houses in Canada at 62.5% according to an industry profile from Ontario Creates.
Small publishers cannot afford to print mass quantities of titles for two reasons: storage and cost. The risk and overhead of printing hundreds or thousands of copies of one title is one that most small publishers will not take. It is a risk that is not needed either. Small runs, with the ability to have second, third and more pressings of a book is much more ideal. Also storage of hundreds or thousands of copies of a book is a huge gamble. Space costs money. Sometimes these books don’t sell for many years. The secondary problem of having to keep the books safe is another issue. The longer the books are stored, the more chance of damage. This is something the UTP is finding out the hard way.
The UTP says that the publishing house no longer has sufficient space at its 95,000-square-foot distribution centre on Dufferin Street, south of Steeles Avenue West, and is in need of a new facility. Also the leases at three overflow sites UTP has paid to use in Newmarket, Mississauga, and Georgetown will soon be due for renewal.
So whereas the UTP could be spending money on more needed matters to help further its publishing house, it is spending it on storage, something it is not happy about.
“As a non-profit, our money ideally could be better spent elsewhere,” Farell admitted.
