In Canada, the state of the publishing industry is always the question on the minds of those deeply involved as there tends to be an air of uncertainty, especially since the digital age has, so heavily, played a role in it. This role though, may be the one aspect that can help protect the industry and provide a healthier profit margin for publishers as well as larger royalties for authors.
Countless public meetings of governments all over the world, community groups, and basically anyone that has ties to something relating to economics, information and the humanities has been discussing the integration of AI into the world. Immediately all I think of is NFTs and crypto and in a way I can see how this is a distraction from the personal relationship with books.
The Bookseller reported on Feb. 12 in an article by Heloise Wood, that a number of factors have been making it difficult for children’s bookshops in London to survive. Interestingly this is also a case where fixed book pricing (FBP), which I talked about here recently, could help.
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.
The book publishing industry has gone through a number of changes over the last 40 years and while some readers or people in that industry may feel that there is a decline in revenues, there is one stat that says otherwise.
Of the 4,270 Canadians polled in the Canadian Book Consumer survey for 2023, more Canadians were buying books over the $50 mark than the previous year.
