Audio Books Posts

“Publishing Pangs”,Economic Times, Sunday Edition, 5 July 2020

“Publishing Pangs”, Economic Times, Sunday Edition, 5 July 2020

On 24 March 2020 invoking the Disaster Management Act (2005) the first phase of the lockdown to manage the Covid-19 pandemic was announced. “Disaster Management” is considered to be a part of the Concurrent List under “social security and social insurance”. With the announcement all but the most essential economic activity halted nationwide. Only 4 hours’ notice was provided, insufficient time to plan operations.

Demand and supply existed but all cash cycles dried up — because bookstores were not operating. Brick-and-mortar stores had to close while online platforms focused on delivering only essential goods and books were not on the list. Priyanka Malhotra says “When Full Circle reopened in mid-May, there was a great demand for books. Mid-June, supply lines are still fragile, so getting more books regularly is uncertain. Well-stocked warehouses are outside city limits and are finding it difficult to service book orders to bookstores. We are mostly relying on existing stocks.”

In future, the #WFH culture will remain particularly for editors, curation of lists, smaller print runs, the significance of newsletters will increase, exploring subscription models for funding publishers in the absence of government subsidies and establishment of an exclusive online book retailing platform such as bookshop.org. Introducing paywalls for book events as the lockdown has proven customers are willing to pay for good content. Distributors and retailers will take less stock on consignment. Cost cutting measures will include slashing travel as a phone call is equally productive, advances to authors will fall, streamlining of operations with leaner teams especially sales teams as focused digital marketing is effective, With the redefining of schools and universities due to strict codes of physical distancing and cancellation of book fairs, publishers will have to explore new ways of customising, delivering and monetising content.

In such a scenario the importance of libraries will grow urgently. Libraries benefit local communities at an affordable price point. They are accessed by readers of all ages, abilities and socio-economic classes for independent scholarship, research and intellectual stimulation. The nation too benefits with a literate population ensuring skilled labour and a valuable contribution to the economy. By focusing upon libraries as the nodal centre of development in rehabilitation and reconstruction of a nation especially in the wake of a disaster, the government helps provide “social security and social insurance”. Libraries can be equipped without straining the limited resources available for reconstruction of a fragile society by all stakeholders collaborating. As a disaster management expert said to me, “Difficult to find a narrative for what we are going through”.

After a disaster, the society is fragile. It has limited resources available for rehabilitation and reconstruction. To emerge from this pandemic in working condition, it would advisable for publishers to use resources prudently. It is a brave new world. It calls for new ways of thinking.

Given this context, the Economic Times, Sunday Edition published the business feature I wrote on the effect of the pandemic on the publishing sector in India. Here is the original link on the Economic Times website.

***

As the first phase of the sudden lockdown to manage the Covid-19 pandemic was declared on March 24, the timing was particularly unfortunate for the books publishing industry. End-March is a critical time in the book publishing industry.

End-March is a critical time in the book year cycle. It is when accounts are settled between distributors, retailers and publishers, enabling businesses to commence the new financial year with requisite cash equity. Institutional and library sales are fulfilled. The demand for school textbooks is at its peak. But with the lockdown, there was a severe disruption in the production cycle — printing presses, paper mills, warehouses and bookshops stopped functioning. Nor were there online sales as books are not defined as essential commodities.

“Publishing in India is estimated to be worth $8 billion in annual revenues,” says Vikrant Mathur, director, Nielsen India. “Trade publishing has seen four months of near-zero sales which straightaway knocks one’s revenues off by at least 25-30%,” says Thomas Abraham, MD, Hachette India. 

Profit protection became key. Firms either reduced salaries or laid off employees, and unaffordable rentals forced closures of offices and bookshops. Arpita Das, founder of Yoda Press, says, “After three months of almost zero print sales, and low ebook sales, we decided to move out of our office space.”

In mid-May, bookshops and online portals resumed selling books. Bookstores delivered parcels using India Post, Zomato, and Swiggy. Sales of children’s books exceeded everyone’s expectations, averaging 30% more than pre-Covid sales. Shantanu Duttagupta, publisher, Scholastic India, says, “The ecosystem of children’s books and content comprises mainly of parents, educators and children. While print is traditionally preferred, it has to be recognised that content of any sort has to be format-agnostic. Whether it’s digital solutions for parents and children, helping educators through professional development or providing curated, age-appropriate books for children, being agile and nimble is key.”

Publishers announced curated digital content for schools engaged in remote learning. Scholastic Learn at Home, Collins Digital Home Learning, DK’s Stay Home Hub and StoryWeaver’s Readalong** were among such initiatives. Paywalls were introduced for creative writing workshops and were fully subscribed. Academic publishers noted an increase in inquiries from universities regarding bundle subscriptions.

To remain relevant with readers, there was an explosion of hashtags and promotions on the internet: #ReadInstead, #BraveNewWorld, #Reset, #MacmillanReadingSpace, #PenguinPicks, #KaroNaCharcha and #MissedCallDoKahaaniSuno. Book launches and lit fests went digital, with viewers across time zones. Brands like JLF ( Jaipur Literature Festival) got a viewership of over 700,000 worldwide*, while Rajpal & Sons got a viewership of over 300,000 — both hosted an equal number of events (50+) in the same time frame.

According to Meru Gokhale, publisher, Penguin Press, Penguin Random House India, “India’s reading consumption patterns during the lockdown consisted of ‘bucket list reads’ of classics, voluminous works and series fiction; self-help and mind-body-spirit lists.” Publishers launched frontlists (new and current titles) as ebooks , deeming that preferable to tying up cash in inventory. Interesting experiments by editors have involved crowd-sourcing new ebooks, usually kickstarted with an opening by a literary star. Vikas Rakheja, MD, Manjul Publishing, says, “We have seen a 300-400% growth in sales of our ebooks in April-June, over the same period last year, in both English and Indian regional languages, on Amazon Kindle and other online sales portals.” 

Chiki Sarkar, publisher, Juggernaut Books, says their titles saw greater time spent on ebooks during the lockdown. Audiobooks also sold. Yogesh Dashrath, country manager, Storytel India, says, “Globally there was doubling of intake. In India, it accelerated exposure to audiobooks.”

But India is firmly a print book market. So it will take some time for patterns to change. Kapil Kapoor, MD of Roli Books and owner of CMYK bookstore in Delhi, says, “In Unlock 1, we have not yet seen a significant spike in the demand for books. For now, sales figures hover around 40–50% of pre-Covid-19 days, largely driven by online sales — an accurate reflection of consumer preference of wanting home delivery and not venturing out to markets due to a fear factor, which is understandable.” A concern is book piracy will increase in direct proportion to economic stress in households.

As for lasting trends, work from home culture will continue, particularly for editors. Experimentation with curated lists, smaller print runs and subscription models will be seen. Some publishing firms, imprints, bookstores, retailers and distributors may go out of business. Increasingly, finance and legal will join sales departments to ensure “correct” decisions are made. Cost-cutting measures may include slashing travel, relying more on digital tools for efficiency, such as negotiating book rights online, employing leaner sales teams and expanding business horizons beyond the Anglo-American book market, without travelling. New platforms capitalising on professional expertise and fostering creative synergies have emerged on social media, like Publishers’ Exchange, an initiative by language publishers across India, Mother Tongue Twisters, Roli Pulse, Independent Bookshops Association of India and Publishers Without Borders. With the redefining of schools and universities, publishers will explore new ways of customising, delivering and monetising content. Could book events go behind a paywall? Perhaps libraries will regain significance?

As the industry negotiates this disruption, it’s clear that it will take a lot of ingenuity to emerge largely unscathed on the other side. Everyone is hoping for a happy ending to this particular saga.

* At the time of writing the article, this figure of 700,000+ held true for JLF. But on the day of publication of the article, the number has far exceeded one million.

** Storyweaver’s Readalong are multilingual audio-visual storybooks.

5 July 2020

Publishing & GST: Making the book fair & square

My article on “GST and publishing” has been published in the Economic Times on 12 January 2019. The original url is here. I am also C&P the entire article below. I had first written about the impact of GST and publishing within a week of the new taxation system coming into effect on 1 July 2017. My article was published on 8 July 2017. Here is the link.

Publishing is part of the creative economy. Books are made by transferring knowledge, information, data and ideas into a defined valuable product. According to Nielsen, the Indian book market is worth $6.7 billion. It is the third-largest English language market in the world, and many regional language markets are thriving.

It is broadly categorised into school publishing, academic (books and journals), trade (fiction, general non-fiction, graphic novels, etc) and children’s literature publishing. From independent players to large MNCs with varying business models — traditional, self-publishing and hybrid publishing —there is a broad spectrum of publishing firms.

No industry that sells its products commercially can be indifferent to costs. But in book publishing, the input costs are so high that everyone in the supply chain (from publishers to distributors and booksellers) operates on slim profit margins. In some cases, even these don’t exist, as the idea in the book becomes more important to publish.

On July 1, 2017, the goods and services tax (GST) came into effect in India. Many taxes imposed in previous systems have continued under GST, but new taxes have also been introduced. Asignificant one is the 12% tax on author’s royalties that has to be deposited as part of the reverse tax mechanism by the publishing firm on behalf of the author with the income-tax authorities. Unfortunately, publishers do not get any benefit in this arrangement, since most authors do not have GST certificates.

Other input costs, too, have increased, as GST has to be deposited on all invoices raised by vendors to whom publishing services are outsourced. There has been an effective increase of cost across the board of about 12-18%. Given that publishers don’t benefit from input tax credit as books are not taxed, some of the increased costs have had to be passed on to readers by increasing the price of books, which have increased by 10-15% since GST was imposed.

Overhead costs like rents, travel and communication have also increased from 15% to 18% due to GST. Those firms that can afford to pay for extra manpower to contend with the extra paperwork and monthly filing have hired extra staff to ensure smooth operations. But this monthly filing of returns impacts the cash flow of smaller companies badly, at times even bringing publishing to a momentary halt.

Every age of mechanisation has produced more texts, and with it a stupendous growth in reading. First, it was the invention of the moveable type that made ‘books’ easily available and a ‘reading public’ was created for the first time. Then, with the Industrial Revolution, mechanised printing presses sped up publishing dramatically. Currently, we are in the middle of yet another major dislocation: the Information Age.

On principle, GST is a destination based tax that aims to build better cash flows and working capital management for proprietors. Ultimately, it is also meant to help the consumer by reducing the tax burden on the product at point of sale. Unfortunately, the benefits of input tax credit can only be gained if the book is taxed.

Printed books are a non-taxable commodity primarily to make education affordable. For now, there is an uneven taxation policy on the different forms in which books are made available: print books (0%), e-books (5% if it has aprint component) and audiobooks and journals (18%). But, in India, the primary consumed product is the printed book. Survival of firms will depend on how much financial stress they can bear. Perhaps levelling a minimal GST on books across all formats will help contain the financial burden on most publishers. Ironically, technological advancements will further propel the divide. For, only those readers who can afford books — in any form — will be able to access information.

Both publisher and reader have been affected by GST. The question is whether publishing houses on all sides of the tax issue can sort out their differences, and present a united alternative to GoI —one that preserves the key benefits of GST, but removes its unintended side-effects.

12 January 2019

World Book Fair, 6-14 January 2018

Ever since the World Book Fair moved to January instead of the second week of February there has been a tremendous growth in the number of visitors. Year-on-year there are long queues of people waiting patiently to enter the enter the fair grounds at Pragati Maidan. This year the fair was held in only a small area of the exhibition grounds as much of Pragati Maidan has been demolished. It will be a few years before the new buildings are built. Meanwhile the publishers were placed in some halls and tents. The visitors to the fair walked alongside workers in hard hats and enormous Caterpillar diggers shovelling earth to create mountains taller than the exhibition halls. There were potholes in the roads and a general mess everywhere. Yet it did not seem to dampen anyone’s enthusiasm to buy books. As in previous years there were buyers trailing suitcases on wheels to pack in the books they would buy. In fact a senior publisher I met during the fair said that the shift to January has been a boon for them as their sales grow better and better with every year.

The World Book Fair is organised by the National Book Trust. It began in the early 1970s when it was a bi-annual affair before being made an annual feature. It began with the intention of making books accessible and popularising reading. Over the years it has slowly acquired some characteristics of a trade fair with its specific B2B meetings, a Rights Table, panel discussions, an increasing number of international visitors etc. This year the guest of honour was the European Union. The business collaborations that happen unexpectedly at the fair are incredible. Such as this of third-generation publisher Raphael Israel. An Indian Jew who met his Palestinian clients at the fair couple of years. It is now one of the happiest business relationships! 

Yet at the heart of it the book fair remains a B2C fair with visitors coming from around the country to buy books. In India there are bookshops but not enough to cater to the vast multi-lingual population. The presence of online retailers over the past few years has helped foster the reading habit among many especially in tier-2 and tier-3 towns. This was a sentiment expressed by many publishers participating in the fair. This time there were definitely larger number of customers many of whom were browsing through the shelves to discover more for themselves. While browsing online is convenient and helpful, algorithm driven searches do not necessarily help in discovering a variety of books for the readers. This is where the display cases at fairs and bookshops help tremendously.

There were visitors of all ages and even people using walking sticks or in wheel chairs braving the potholes and dust swirling around. It did help greatly that the winter break of schools had been extended due to the excessive chill. So families came to spend their day at the book fair, browsing, buying and having a picnic. Surprisingly the crowds came even during the designated business hours so that by the afternoon it was impossible to walk through the crush of people. Over the weekends the crowds were incredible. Publishers of children’s and young adult literature were delighted with the response. Sales were unprecedented for many whereas others managed to break even. Comments such as this were often overheard: Child telling parent “Don’t say you will buy the book online. Buy it now!” Sales of the trade and academic publishers were brisk as well but some reported poorer sales than last year citing the poor location as the major reason for lack of visitors. The Hindi publishers were satisfied with the response with some saying that the usual growth of sales of 15-20% which is commensurate with the growth of their publishing y-o-y was evident. Interestingly enough this year there was a significant presence of self-publishers. Sadly though this year there was a very low turnout of Indian regional language publishers. Curiously enough the stalls of the few who participated such as the Bengali, Marathi and Urdu publishers, their signboards were written in Hindi!

This was the first time that audio books made their presence felt. For example, the Swedish firm Storytel is partnering with publishers in Hindi, English and Marathi. An audio tower had been placed in the stall of Hindi publishers, Rajkamal Prakashan, where 60 audio books could be sampled. Apart from this there was evidence of newcomers who had put up stalls showcasing their storytelling websites/apps/storycards that had a digital audio version too. These were individual efforts. It was also rumoured that other bigger players could be expected to make an entrance into the Indian publishing ecosystem. Perhaps they will announce their presence at the next world book fair, January 2019?

Undoubtedly the local book market is growing as there are still many first generation buyers of books in India. Despite the vast variety of books on display it was the backlist of most publishers which was moving rapidly. Pan Macmillan India for instance had a corner dedicated to their Macmillan Classics that were very popular. Interestingly the branded authors such as Enid Blyton, Bear Grylls and J. K. Rowling had entire shelves dedicated to their works. At a time when most authors are jostling for space to be seen and heard, these generous displays by publishers for a single author were a testimony to the significance and influence they wield with readers. Obviously the long tail of backlists are good business. Repro is collaborating with Ingram to offer Print On Demand ( POD) services. These work well for those with significant backlists that need to be kept alive for customers but to avoid excessive warehousing costs and tying up cash in stock, it is best to offer POD services to customers. The demand for  a backlist title of a specific publishing house is fulfilled by vendors who use the marketplaces offered by online retailers. The cost of the title purchased is higher than if it had been part of a print run but this arrangement works favourably for everyone concerned.

While browsing through the bookshelves it was not uncommon to notice readers either standing absorbed in reading or sitting peacefully crosslegged on the floor reading through the books they had shortlisted. What was remarkable was how serenely they sat despite the crowds milling around them. If there were displays on tables as at the DK India stall and the regional language stalls, people were standing and reading calmly.

 

Happily a large number of younger customers thronged the fair and buying. Even though some publishers said that few people haggled for discounts the crowds at the secondhand and remaindered stalls had to be seen. There was such a melee. Books were being sold for as little as 3 for Rs 100! While publishers were not amused at the presence of these remaindered stalls doing brisk business, customers were delighted that for a small amount of money they could buy a pile of books.

All said and done it was a satisfying book fair. Hats off to the National Book Trust team for running it so smoothly and efficiently every year!

 

30 January 2018 

 

 

 

National Geographics and audio books

For many decades my paternal grandparents would subscribe to the National Geographic magazine. Given that they were tucked away in a small town, Meerut, it was remarkable. The magazine would arrive regularly. In fact when my brother and I visited them for our summer break we would pore over the wonderful collection they had amassed. Once my grandmother started her school many of these magazines were sent off to the library.

Last year my 101-year-old grandfather passed away. Now my father and his siblings are slowly sifting through the papers my grandfather had collected. From it has emerged a treasure of National Geographic magazines. Some are dating as far back to 1933. On the right is an image from an article published in 1933 about the advancement at Hamburg port where now steam ships instead of sail ships were visible. There are random issues from the “in-between” decades till recently. There is an article about  Afghanistan in 1968. My father has gifted this collection to my seven-year-old daughter who is thrilled. She is ecstatic since she loves the magazine and already has her own subscription to it.

While flipping through the magazines I came across a description of what could be the earliest form of an audio book. It is an article reviewing a book about birds. Apparently to accompany it were a set of LPs ( long playing records). Depending upon the bird you were reading about and wished to hear the sound it made then you placed the book on the LP on the record turntable, placed the needle at the hole on the page and voila! the birds chirruped. Absolutely fascinating description of an “audio book” from the 1960s.  Imagine even then people were trying to experiment with books and technology!

3 July 2017

JaipurBookMark ( JBM), 21-22 January 2015, Narain Niwas, Jaipur

The Jaipur BookMark 2015
Where South Asia meets the world

21-22 January 2015, Narain Niwas, Jaipur

(JBM 2015 will run for two days parallel with the Zee Jaipur Literature Festival on the 21 and 22 January)

bookmark-logo

Day 1: 21st January 2015

12:30 PM-INAUGURATION

Sanjoy Roy, Namita Gokhale, Oliver Moystad

1:30 PM-2:30 PM- INAUGURAL LUNCH hosted by NORLA

2:30 PM-3:30 PM- SESSION 1

IS PUBLISHING “UNBANKABLE”?

A business like no other, publishing finds it notoriously difficult to raise finance: a session on the business of publishing; discussing the structural issues concerning publishing, bank finance, volume and scalability etc.

 

Speakers: Dr Shubhada Rao, Henry Rosenbloom, Bikash Niyogi, Manas Saikia, Atiya Zaidi and Aditi Maheshwari
Moderator: Naresh Khanna

3.30 PM – 4.00 PM TEA

4:00 PM-5:00 PM-SESSION 2

DIGITAL PLATFORMS: THE UNTAPPED TERRITORIES

From social media to distribution, what should publishing professionals be aware of in their rapidly changing industry? Kindles, Kobos, iPads and audiobooks; what does all this new technology mean for the industry from writers to editors, marketers to consumers?

Speakers: Nicolas Idier, Niyam Bhushan, Rajiv Mehta, Ajit Baral and Vishal Anand
Moderator: Arpita Das
Session Supported by: NewsHunt

5.00PM – 6.00PM – SESSION 3

LIBRARIES AND ARCHIVES: TIME TRAVELERS EXTRAORDINAIRE
An IGNCA supported Open Forum, on the convergence of Libraries, Archives and Museums. With more access to information available online than ever before, regardless of location, what new role could and should libraries and archives play in making information accessible to all?

Speakers: Dipali Khanna, Alberto Manguel, Nicholson Baker, Dr. Venu Vasudevan and Shantanu Ganguly
Moderator: Bharti Sinha
Session supported by: Indira Gandhi National Centre for the Arts

6:00 PM-7:00 PM DRINKS

Day 2: 22nd January 2015

10.30AM TEA/COFFEE

10.45 AM – 11.30 AM – SESSION 1

WHO IS THE BOOK?
‘More than 48 printed pages and bound within 2 covers’, is that the book or is there more to it? On the changing format and technology of the book in an increasingly interactive environment.

Ralph Mollers in conversation with Sirish Rao; introduced by Ute Reimer-Boehner

11.30 AM- 12.30 PM – SESSION 2

RETHINKING TRANSLATION: RELOCATING THE CENTRE

How do we translate content across multi-media and digital borders including e-books, audio books, graphic texts and cross-media conversions?

Speakers: Vera Michalski, Satti Khanna, Mahua Mitra, Rick Simonson, Shona Martyn and Manasi Subramaniam
Moderator: Renuka Chatterjee

12.30 PM-1.30 PM SESSION 3

SOUTH-SOUTH COLLABORATIONS: A CONVERSATION WITH AUSTRALIAN PUBLISHERS

Increasingly, publishers in the global south are beginning to work directly with each other; literary festivals and bookfairs in southern countries are now choosing to focus also on southern authors. In a free ranging conversation, Australian publishers and literary entrepreneurs talk about new collaborations and new relationships.

Speakers: Ivor Indyk, Terri-Ann White, David Ryding, Kate McCormack, Wendy Were and Meredith Curnow
Moderator: Urvashi Butalia

1.30 PM-2.30 PM LUNCH

2.30 PM-3.30 PM SESSION 4

CONTENT IS QUEEN

The book is no longer just a book–it is now a basis for film, video games, interactive reading, collective writing and so much more. With book formats morphing and mutating how will content adapt to survive?

Speakers: Amish Tripathi, Ashwin Sanghi, Prasoon Joshi, Sandip Sen and Renu Kaul
Moderator: Karthika V.K.

3.30 PM-4.00 PM TEA

4.00 PM – 5.00PM-SESSION 5

TOWARDS A NATIONAL READING POLICY

A viable reading policy involves encouraging reading, creating an infrastructure to make books available and finally providing books. What role can States and private actors play to overcome the gap between policies and their implementation?

Speakers: Oliver Moystad, M A Sikandar, Prof. Apoorvanand and Prof. Avdhesh Kumar Singh
Moderator: Manisha Chaudhry
Session supported by: National Book Trust

5 PM CLOSING CEREMONY

6 PM-7 PM DRINKS (those who wish to leave for DSC South Asian Literature prize at Diggi Palace may proceed)

Participants are free to network in the Rights Chaupal.

To register, please visit the Jaipur Literature Festival website at: http://jaipurliteraturefestival.org/registration/jaipur-bookmark-registration

and click on the Register button.

Registration would include delegate status for the ZEE Jaipur Literature Festival specified to the date.

Rs 3,500/- per day or Rs 6,000/- for two days per person

For further queries, please contact: jaipurbookmark@teamworkarts.com

Facebook: https://www.facebook.com/JaipurBookMark?fref=ts

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