book market Posts

Interview with Dipankar Mukherjee, founder, Readomania

Dipankar Mukherjee is the Founder & Director of Readomania, an independent publishing house based in India. Under his stewardship, the house has produced more than 80 books in five years of its existence. Dipankar holds an MBA degree from IIT Madras and has been a management consultant in his professional avatar, working in organisations like IBM and Ernst & Young. Apart from publishing his business interests include a consumer electrical products brand, Aeronova and literary resort, Faraway Renz. He loves traveling and can be found playing with his daughter, if not at work. 

  1. Why did you start Readomania?

An entrepreneur starts with a dream. Mine was, and is, to build a company that is known for creating and curating good content. Readomania was, and is, a manifestation of that dream. There is a lot more content waiting to be discovered. There are a lot of stories that need to be told. We want to be a part of this ecosystem that takes this content, and the stories to a wide audience.

2. What attracted you to publishing?

A publishing house plays a very important role in the society. It can drive narratives, influence points-of-view, and be a catalyst for change. This is what makes publishing a perfect choice for someone who wants to bring out a change for good. I aspire to take Readomania to a position where it can do this effectively, along with being a profitable, sustainable venture.

3. What is the focus of your publishing programme? How many titles have you published so far?

We started in September 2014 and our annual publishing list was streamlined from 2016 onwards. We have published 80 odd titles since 2014. As of now, we publish about 18–24 titles a year. Our list includes literary, midlist, and commercial fiction across multiple genres, short stories, poetry, non-fiction, and children’s fiction. The current focus of our publishing programme is diversity in content. We want to bring in as many flavours as possible. We are delving into mythology retelling, historical fiction, period drama, crime, thriller, romance, short stories, poetry, children’s fiction, humour etc.

4. How do you decide what to publish? Do you commission books or select manuscripts from unsolicited submissions? Or do you look at what agents supply?

Publishing a book is like making a movie, it is not possible to accurately predict how will the audience—reader in this case—react. Though the uncertainty is less for books.

Selection is based on a potent mix of analysis, instincts, and market trends. Analysis focuses on the content, market trends on the genre and competition. Instincts are hard to define but is based on experience, author interaction, and a bit of in-built bias.

We still don’t have fat budgets for commissioning books, so that has still not started. We do, however, discuss projects and potential books with our existing authors and take them forward. Manuscript selections also happen from unsolicited submissions and those that come through agents.

5. Do you think there is an appetite for print books or is the preference for digital books increasing? What are your comments on the digital versus print debate?

Print is winning this debate by a significant margin. I don’t think this will change much in the near future. There will definitely be better adoption of digital formats (text and audio) but that may not dent the market for print books.

Device fatigue is setting in. People want to stop looking at the blue screen. As the awareness for this increases, I feel print books will take up the gap left by some of these devices. However, this may not happen for first time readers. Many of them may directly start reading on a device.

6. Do you look at translations too? If so how does the translations programme operate?

We want to look at translations as well. But we have not started as yet.

7. What is your average day like?

I wake up in a room full of books and start reading with a cup of coffee next to me. I then go to a nice bistro, eat some nice food and drink coffee and read more. I then go to a nice park, sit below a tree, read some more and drink some nice chai from the local fellow, until it’s time to go back home. Back there, I sit next to my window and read, until I fall asleep.

Well, I can always dream about this kind of a life. Reality though is a little different. My regular schedule includes sales and collection follow ups, editorial discussions, an hour on social media, an hour on online reading, marketing discussions, and author discussions.

8. How do you distribute books? Via online retail or brick and mortar stores? Why did you start an online store on your website? Isn’t that rather unusual for an indie publisher?

Distribution has been strong for us, at least amongst indie publishers. I think we have done this well. We distribute through all possible modes. For brick and mortar stores, we work with the regular distributors like IBD, Prakash, Variety and Jaico. In addition, we directly sell on Amazon, are represented on Flipkart and as you mentioned sell through our website as well. Our own website is also a very big channel for sales. Since we are very active on social media, it is easy to drive sales through our own website.

9. What is the kind of publicity you invest in? Do book launches help you sell books?

Publicity is a nemesis for indie publishers. The ROI on publicity is questionable and hence we are careful treading this path. We use a lot of online resources, bloggers’ community, and outreach for marketing. We do work with the stores and on Amazon. We still have some work to do in PR and co-branding concepts. However, we keep trying out different methods of communication and branding for books. Some work, some don’t.

As for book launches, in my opinion they do not recover the investment made and are a drag on our resources. A book launch, or any event for that matter, works well only when there is a good PR angle.

10. What are your thoughts about the Indian book industry? Is it growing or not? What are the pain points if any? What makes this book market stand apart from the others?

Deciphering the Indian book industry is quite a challenge, especially the trade book segment. There is growth. However, that growth may not be real. Many systemic issues lead to this problem. First amongst them is the concept of Sale-Or-Return. How does one explain growth when returns can potentially come after the financial year is closed? Does one go back and revise growth figures?

However, there are a lot of positives that do point to the growth-story. Many more titles are coming up, online sales are strong, and sentiments are good.

As far as pain-points are concerned, there are a select few that I would like to mention, both on cost side and revenue side. On cost side we have GST, payment terms that publishers have with distributors and distribution margins as major issues. The cost pressures have significantly increased. On the revenue side, I think there is over-supply of books. If I may say, India is now a land of more writers than readers. This coupled with shrinking shelf space makes it difficult to reach out to the readers. The power may be shifting away from publishers to distributors or platforms like Amazon, especially since distributors and platforms are now operating as monopolies.

11. What are the changes you have seen in publishing since you began Readomania? What are the genres that sell the most amongst your readers/customers and do you think these align with the more popular buying sentiments amongst Indian readers?

Since our inception, quite a few things have changed. I have seen the self-publishing industry grow significantly over the years. There has been a good growth in new genres like true-crime, celebrity-autobiographies, bureaucrat narratives. Growth in the regional language publishing and demand for translations also is a positive change. For publishers, a big revenue stream has opened up through rise in book-to-screen deals. However, there has been a fall in per-title print runs. I also feel there is now an overload of marketing content for readers and a big boom in book-marketers who promise the moon but not sales.

Popular genres for us include mythology, historical fiction, non-fiction, and light reads. I think the market too would have a similar trend.

12.   What are your future plans for Readomania?

We are just five years old and we have many miles more to go. Readomania aspires to be one of the top five publishing brands in the country with a strong list, a few international awards in our kitty, and be the publisher of choice for authors and readers.

13 December 2019

“The Journey Of Indian Publishing” by Jaya Bhattacharji Rose

I recently contributed to How to Get Published in India edited by Meghna Pant. The first half is a detailed handbook by Meghna Pant on how to get published but the second half includes essays by Jeffrey Archer, Twinkle Khanna, Ashwin Sanghi, Namita Gokhale, Arunava Sinha, Ravi Subramanian et al.

Here is the essay I wrote:

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AS LONG as I can recall I have wanted to be a publisher.  My first ‘publication’ was a short story in a newspaper when I was a child. Over the years I published book reviews and articles on the publishing industry, such as on the Nai Sarak book market in the heart of old Delhi.  These articles were print editions. Back then, owning a computer at home was still a rarity.

In the 1990s, I guest-edited special issues of  The Book Review on children’s and young adult literature at a time when this genre was not even considered a category worth taking note of. Putting together an issue meant using the landline phone preferably during office hours to call publishers/reviewers, or posting letters by snail mail to publishers within India and abroad, hoping some books would arrive in due course. For instance, the first Harry Potter novel came to me via a friend in Chicago who wrote, “Read this. It’s a book about a wizard that is selling very well.” The next couple of volumes were impossible to get, for at least a few months in India. By the fifth volume, Bloomsbury UK sent me a review copy before the release date, for it was not yet available in India. For the seventh volume a simultaneous release had been organised worldwide. I got my copy the same day from Penguin India, as it was released by Bloomsbury in London (at the time Bloomsbury was still being represented by Penguin India). Publication of this series transformed how the children’s literature market was viewed worldwide.

To add variety to these special issues of The Book Review I commissioned stories, translations from Indian regional languages (mostly short stories for children), solicited poems, and received lovely ones such as an original poem by Ruskin Bond. All contributions were written in longhand and sent by snail mail, which I would then transfer on to my mother’s 486 computer using Word Perfect software. These articles were printed on a dot matrix printer, backups were made on floppies, and then sent for production. Soon rumours began of a bunch of bright Stanford students who were launching Google. No one was clear what it meant. Meanwhile, the Indian government launched dial-up Internet (mostly unreliable connectivity); nevertheless, we subscribed, although there were few people to send emails to!

The Daryaganj  Sunday  Bazaar where second-hand books were sold was the place to get treasures and international editions. This was unlike today, where there’s instant gratification via online retail platforms, such as Amazon and Flipkart, fulfilled usually by local offices of multi-national publishing firms. Before 2000, and the digital boom, most of these did not exist as independent firms in India. Apart from Oxford University Press, some publishers had a presence in India via partnerships: TATA McGraw Hill, HarperCollins with Rupa, and Penguin India with Anand Bazaar Patrika.

From the 1980s, independent presses began to be established like Kali for Women, Tulika and KATHA. 1990s onwards, especially in the noughts, many more appeared— Leftword Books, Three Essays, TARA Books, A&A Trust, Karadi Tales, Navayana, Duckbill Books, Yoda Press, Women Unlimited, Zubaan etc. All this while, publishing houses established by families at the time of Independence or a little before, like Rajpal & Sons, Rajkamal Prakashan, Vani Prakashan etc continued to do their good work in Hindi publishing. Government organisations like the National Book Trust (NBT) and the Sahitya Akademi were doing sterling work in making literature available from other regional languages, while encouraging children’s literature. The NBT organised the bi-annual world book fair (WBF) in Delhi every January. The prominent visibility in the international English language markets of regional language writers, such as Tamil writers Perumal Murugan and Salma (published by Kalachuvadu), so evident today, was a rare phenomenon back then.

In 2000, I wrote the first book market report of India for Publisher’s Association UK. Since little data existed then, estimating values and size was challenging. So, I created the report based on innumerable conversations with industry veterans and some confidential documents. For years thereafter data from the report was being quoted, as little information on this growing market existed. (Now, of course, with Nielsen Book Scan mapping Indian publishing regularly, we know exact figures, such as: the industry is worth approximately $6 billion.) I was also relatively ‘new’ to publishing having recently joined feminist publisher Urvashi Butalia’s Zubaan. It was an exciting time to be in publishing. Email had arrived. Internet connectivity had sped up processes of communication and production. It was possible to reach out to readers and new markets with regular e-newsletters. Yet, print formats still ruled.

By now multinational publishing houses such as Penguin Random House India, Scholastic India, Pan Macmillan, HarperCollins  India, Hachette India, Simon & Schuster India had opened offices in India. These included academic firms like Wiley, Taylor & Francis, Springer, and Pearson too. E-books took a little longer to arrive but they did. Increasingly digital bundles of journal subscriptions began to be sold to institutions by academic publishers, with digital formats favoured over print editions.

Today, easy access to the Internet has exploded the ways of publishing. The Indian publishing industry is thriving with self-publishing estimated to be approximately 35% of all business. Genres such as translations, women’s writing and children’s literature, that were barely considered earlier, are now strong focus areas for publishers. Regional languages are vibrant markets and cross-pollination of translations is actively encouraged. Literary festivals and book launches are thriving. Literary agents have become staple features of the landscape. Book fairs in schools are regular features of school calendars. Titles released worldwide are simultaneously available in India. Online opportunities have made books available in 2 and 3-tier towns of India, which lack physical bookstores. These conveniences are helping bolster readership and fostering a core book market. Now the World Book Fair is held annually and has morphed into a trade fair, frequented by international delegations, with many constructive business transactions happening on the sidelines. In February 2018 the International Publishers Association Congress was held in India after a gap of 25 years! No wonder India is considered the third largest English language book market of the world! With many regional language markets, India consists of diverse markets within a market. It is set to grow. This hasn’t gone unnoticed. In 2017, Livres Canada Books commissioned me to write a report on the Indian book market and the opportunities available for Canadian publishers. This is despite the fact that countries like Canada, whose literature consists mostly of books from France and New York, are typically least interested in other markets.

As an independent publishing consultant I often write on literature and the business of publishing on my blog … an opportunity that was unthinkable before the Internet boom. At the time of writing the visitor counter on my blog had crossed 5.5 million. The future of publishing is exciting particularly with neural computing transforming the translation landscape and making literature from different cultures rapidly available. Artificial Intelligence (AI) is being experimented with to create short stories. Technological advancements such as print-on-demand are reducing warehousing costs, augmented reality  is adding a magical element to traditional forms of storytelling, smartphones with processing chips of 8GB RAM and storage capacities of 256GB seamlessly synchronised with emails and online cloud storage are adding to the heady mix of publishing. Content consumption is happening on electronic devices AND print. E-readers like Kindle are a new form of mechanised process, which are democratizing the publishing process in a manner seen first with Gutenberg and hand presses, and later with the Industrial Revolution and its steam operated printing presses. 

The future of publishing is crazily unpredictable and incredibly exciting! 

3 Feb 2019

Book Market Guide of India ( 2018)

I was commissioned by Livres Canada Books to write a report on the Book Market of India for the Canadian publishers. Canada will the Guest of Honour at the Frankfurt Book Fair 2020. It is a report that may be of interest to other publishing professionals too since it gives a bird’s-eye view of the Indian publishing landscape. It is a report with over a 100 footnotes, innumerable links embedded and a directory of contacts — publishers, literary agents, distributors, publishing associations etc. The India Market Guide 2018 may now be downloaded from the Livres Canada Books.

The information gleaned for the market guide was based on extensive research that entailed number of interviews and meetings with the Indian publishing industry professionals. I am grateful to all of them for their support.

17 April 2018 

When I was interviewed by Samit Basu (3 July 2006)

When I was interviewed by Samit Basu (3 July 2006)

 

July 3, 2006
Jaya Bhattacharji Interview
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Jaya Bhattacharji edits books for Zubaan, an imprint of Kali for Women. Young Zubaan is Zubaan’s children’s/young adult imprint. Jaya is also guest editor, children’s and young adult literature, at The Book Review.

Q: You recently published a fantasy novel aimed at children/young adults. What was the crucial factor in deciding to publish this now? Is there a market for speculative fiction already, or is it a potential market?

A: During the World Book Fair, New Delhi 2006, Young Zubaan released A Shadow in Eternity. It was not a “crucial” decision, but I guess the time was right to publish something like this. By time, I mean that the market was ready to receive a book of this genre.
Pottermania has contributed a great deal to the surge in this form of writing. Given that the Rowling phenomena has been pivotal in encouraging reading, irrespective of the size of the book, I think, a lot of children’s writers, feel that since this is probably the genre that is selling, it is the one to emulate.
There certainly is a market in India for this kind of fiction. I am certainly all for any genre that encourages reading and releasing the imagination. But the Indian market has to evolve its own signature/stamp of fantasy fiction. We cannot rely totally on imitating fiction that is necessarily based on a Western/Christian tradition or of even trying to yoke the two systems together. A lot of the fantasy fiction that comes from the West is in the classic form of Good vs Evil; or in the Romance tradition of being on a Quest; or in search of the Holy Grail, whatever it may be; or reliance on Greek mythology. In India, we have a huge amount of influences to rely upon, which don’t necessarily encompass the idea of a quest or the Holy Grail. Sure, we do have a strong sense of Right and Wrong; Good vs Evil, but it is tempered by the cultural melting pot that we live in, where a lot of traditions are being intermingled. So, if fantasy has to emerge in India, it has to develop its own distinctive identity.
The other kind of fantasy could be good Science Fiction, but I am not sure whether we have a strong tradition in this, except for maybe in Bengali literature.

Q: Do you feel SF/fantasy (speculative fiction) has a future in India? Why, either way?

A: Well, personally speaking, I think speculative/imaginative/slipstream/fantastic/science-fiction or what-you-will-genre has huge potential in India. But, it has to be a story well told and not necessarily a mish mash of all that is to offer. Sure, it can be a genre that transports one into an imaginative world, but it has to be a world that is well created, detailed and to some extent logical. It may not be logic as we know it, but it is perfectly rational in the parallel world that is being created.

Q: Internationally, a lot of speculative fiction aimed at the age group you’re looking at ends up being part of a cross-media franchise – TV, books, merchandise. There’s no history of this in India, but do you think it’s possible eventually, or are the worlds of TV/film and books in India too isolated for this to happen unless something fundamental changes about the markets in question?

A: I don’t think you should consider the marketing blitzkrieg surrounding some of the recent Hollywood blockbusters based upon books/comic characters like Harry Potter, Superman, Spideman, as being a model that needs to be emulated lock, stock and barrel in India. This cross-media franchise is marketing gimmickry and sure, to some extent brings in the money, but except for a few in India, I don’t think most people will be able to afford it even if the youngsters fall for it. There may not be any history of this, but there is only a very thin line between the film and the book world in India. It has seen some cross-pollination, but maybe not in the same way as is evident in the West. (Or in the East? I don’t know!)
Having said this, it maybe possible some way in the near future, but such a huge market control depends upon a great deal of accurate monitoring of IPR, and ensuring that there is no piracy of the products. At the moment, even if it were possible, financially speaking, to hire spin-doctors in India for a film based on a book or a good film rights agent to hawk a good book to a film-maker, it would prove near impossible to stem the leaks in the system. It is a very tough call to monitor cross-media franchise. It requires a lot of efficient and corruption free systems to be installed. Funnily enough, India may not have a history of cross-media franchise, but many of our garment sweatshops/factories in Coimbatore are mass producing “movie” franchise clothes for kids solely for the export market! And these are sold at the exclusive retail stores of movie giants like Disney, Time and Warner. Surprisingly poor imitations of these garments have not necessarily entered the local market in the numbers expected, so may be there is hope for cross-media franchise in the Indian future.
The only fundamental thing that has to change in both the industries, in order for such cross-media franchise to be viable is a close monitoring of the © and stemming the leaks in the piracy market. Also, the Indian market is not one, homogenised market as is noticed in most countries abroad. So, a marketing model that may have been adopted and at least cost applied across the country may not work in India. We are many markets in one, in terms of languages, communities, literature, regional characteristics and tastes. So, in order for cross-media franchise to be successful, it would require huge amounts of direct investment and I don’t think any publisher or film distributor or literary/film agency or even the creator/author would be willing to take such a risk!

Q: Do you get a large number of SF/fantasy submissions, given the overwhelming popularity of crossover/YA speculative fiction abroad?

A: Well strangely enough not too many. But the trickle that we get is talented. Yet, I have my reservations about it. Indian fantasy has to break its shackles from the West and really learn to come into its own, otherwise it is going to just generate a great deal of confusion in the young reader’s mind.

Q: In fiction aimed at adults, SF/fantasy tend to be seen as low-caste, but in the world of children’s publishing, the most popular books in recent times always seem to contain speculative elements. Do you think this is because children are seen to be more accepting of non-identifiably-real-world situations, or because the children’s’ book market is now large enough for it to have its own rules – or is it something different entirely?

A: Speculative fiction is such a convenient and oh, so modern a term for the plain and simple use of imagination in literature for children. The number of categories or kind of titles that this category subsumes is of those books that are very difficult to categorise in any other way. Also, this kind of fiction has existed from whenever literature began to be written down with the young reader in mind. It is not necessarily a recent fashion.
It is not a case of being low-caste, as SF/Fantasy has always had a steady following. It is just that it is now clearly visible as it has been dominating markets recently. Also visibility of this genre has to be linked to the access to information. Today, more and more of the children and young adults have a direct say in their reading tastes and to some extent have the purchasing power as well. So, it is not being mediated by the parent/educationist/teacher. There is direct marketing of books in schools. Spaces have opened for youngsters to hang out, like coffee shops which also have bookstores in them. There is also the Internet where it gives one access to blogs, author websites, online bookstores, reviews, fan fiction sites etc. Children/YA are better informed and to a large extent know what they want.
Children’s publishing has always accommodated a variety of genres, I believe it is the only place where one has the space to experiment and fine tune different genres. So, if you are interested in SF, then you have the freedom to explore the limits of technology, science, etc. Sure, this reader audience is far more discerning than an adult reader, but they can be equally critical and damning.
The book market for children is completely unpredictable, so the current flavour of the decade is fantasy as it has a reading public, hence sales. Given the huge investments required in children’s publishing, most publishers, authors, literary agents will want/ten to be conservative and capitalise on a winning formula rather than take a risk. It is pure economic sense to promote fantasy and hence, its noticeable dominance of the market.
Children and young adults are actually reading a wide-range of stuff. A visit to any local bookshop will confirm that. In fact, as I said earlier, there is a sense of inverted snobbery being noticed in the younger generation today of what and how much they have read. Interestingly enough, it is a greed/thirst for anything that can be read. They will devour anything but very honest in their opinions. Most of the time, it seems that their opinions are not necessarily formed by what is dominating the review pages of newspapers, but their gut feel. Hence, an extremely difficult market to gauge and monitor. It is quite unpredictable.

Q: What sort of children’s fantasy/SF would you like to see coming out of India? And what do you think writers in the genre in this country would do best to avoid?

A: Fantasy for children in India, can be set in any context, time zone etc, but it has to be well written. In the sense, that there should be good, cohesive logic to the universe that is being created. There should be details of the environment and the people and certainly not a cacophony of voices, which really don’t do much for the characters. Each character should have a distinct voice. If different traditions are to be mixed (and frankly, I am all for experimentation in literature), then it has to be done cleverly, treated lightly and presented in an interesting manner. By clever, I mean that the author should not be “showing off” their immense reading and familiarity with these other traditions, but create multi-layers and echoes in the story, that will prompt the young reader to submerge, discover and be totally entranced by the new literary creation. At the end of the day, it has to be a GOOD STORY. Also, a story well told will live for a very long time to come and not necessarily be written and created with “a” single market, fixed in time. In fact, it will then be read for many generations to come.