Rujuta Diwekar Posts

Jaya’s newsletter – 2

(Thank you for the response to my inaugural newsletter. Please feel free to write: jayabhattacharjirose1 at gmail dot com )

westland-332pxThe biggest news in terms of business deals has been the acquisition of TATA-owned publishers Westland by Amazon. (http://bit.ly/2fjVVCP) Earlier this year Amazon had a bought a significant minority stake in Westland but last week they bought the company for a purportedly Rs 39.8 crores or approximately $6.5 million. ( http://bit.ly/2fzdfrJ ) Westland has a history of over 50 years in retail, distribution and publishing. It is an amalgamation of two companies, Westland Books and EastWest Books (Madras). “Amazon’s roots are in books and we are excited to be part of that team in the next phase of our journey,” Westland CEO Gautam Padmanabhan said. The publishing list of Westland, its imprints Tranquebar and EastWest, and imprint extension Mikros, include bestselling authors Amish Tripathi, Ashwin Sanghi, Rashmi Bansal, Rujuta Diwekar, Preeti Shenoy, Devdutt Pattanaik, Anuja Chauhan and Ravi Subramanian, among others. This deal highlights the growing significance of India book markets — the third largest English language and with each regional language being of a substantial size too. It will also have an effect on how publishers realign themselves to create strategically good content which makes for good cultural capital but also astute business sense.

For more on the significance of such an acquisition read Bharat Anand’s analysis of AT&T & Time Warner merger incontent-trap HBR. (http://bit.ly/2feLlOP ) It is a marriage between content and distribution, organizations and tech companies. “Content is an increasingly important complement for every one of the tech companies.” Bharat Anand is the Henry R. Byers Professor of Business Administration at Harvard Business School, where he’s taught media and corporate strategy for 19 years. He is the author of the recently released The Content Trap: A Strategist’s Guide to Digital Change.

Publishing business strategies will be bolstered by the GOI announcement as part of the Digital India movement that “Handsets mandated to support Indian language keyboards July 1st 2017”  All handsets being manufactured, stored, sold and distributed in India will have to support the inputting of text in English, Hindi and at least one more official Indian language (of 22), and support reading of text in all these languages. (http://bit.ly/2fGxrbb ) In Medianama’s analysis this will speed up the switch in India to smartphones (and featurephones), because they have that capability to use Indic languages using the operating system. ( http://bit.ly/2feSTRG ) In the long run, good news for publishers if their content is gold.

14 November is celebrated as Children’s Day in India. Nearly 50% of the 1.3 bn population in India is below the age of 25 years –a sizeable reading market. As the first-ever Kids & Family Reading Report, India edition by Scholastic India notes that 86% children read the books they select but points out that 71 per cent of kids were currently reading a book for fun. This is the way it should be to create a new generation of readers. (http://scholastic.co.in/readingreport )

Jaya Recommends

ann-patchettAnn Patchett’s incredibly stunning novel of families and the writing experience Commonwealth madeleine-thien(Bloomsbury)

Jonathan Eig’s fascinating account of The Birth of the Pill (Pan Books, Pan MacMillan India)the-birth-of-the-pill

Translating Bharat Reading India edited by Neeta Gupta. A collection of essays discussing the art of translating and what constitutes a good translation. (Yatra Books)

translating-bharatMadeleine Thien’s extraordinary novel Do Not Say We Have Nothing  ( My interview with the author: http://bit.ly/2eX5meG  )

On literature and inclusiveness ( http://bit.ly/2fbp9Ym )

Legendary publisher 97-year-old Diana Athill’s latest volume memoir, a delicious diana-athilloffering Alive, Alive Oh!

Book launches:

Amruta Patil  ( HarperCollins India)amruta-patil

Shashi Tharoor ( Aleph)shashi-tharoor

Ritu Menon’s Loitering with Intent: Diary of a Happy Traveller  on 5th November 2016, IHC (Speaking Tiger)ritu-menon-book-launch

Craig Mod’s book launch in Tokyo: http://kck.st/2fk29Tp

Lit fests: ILF Samanvay: The IHC Indian Languages Festival‎ ( 5-7 Nov 2016)ilf

 

Literary Prize:  Haruki Murakami wins this year’s Hans Christian Andersen Literature Award ($74,000).    The Hans Christian Andersen Literary Award is not to be confused with the Hans Christian Andersen Award (or medal)— often regarded as the “Little Nobel Prize”— instituted in 1956 to recognize lasting contributions in the field of children’s literature. (http://bit.ly/2eC70iI ) In his acceptance speech he warned against excluding outsiders (http://wapo.st/2fjZ31u )

World Literature Today, the award-winning magazine of international literature and culture, announced Marilyn Nelson as the winner of the 2017 NSK Neustadt Prize for Children’s Literature. Awarded in alternating years with the prestigious Neustadt International Prize for Literature, the biennial NSK Prize ( $25,000) recognizes great achievements in the world of children’s and young-adult storytelling.  ( http://bit.ly/2fdIQhX )

jai-arjun-singhJai Arjun Singh’s The World of Hrishikesh Mukherjee has been given the Book Award for Excellence in Writing on Cinema (English) at the Mumbai Film Festival.

Interesting book links:

A Phone Call from Paul , literary podcast for @LitHub done by Paul Holdengraber, NYPL is worth listening to. Here is the latest episode where Paul is in conversation with Junot Diaz. (http://bit.ly/2fxF1p8 )

On the Jaffna library: http://bit.ly/2eC7vtb

Iran and Serbia sign MOU to enhance book publishing: http://bit.ly/2fGykAK

How one Kiwi author is making $200,000 a year publishing romance novels online: http://bit.ly/2fdVQEh

Bengaluru barber popularises Kannada literature: http://bit.ly/2eP8N6X

Literary River, Literature vs Traffic installation: http://bit.ly/2f3dpUD

Six wonderful ways feminist publisher Virago shook up the world of books http://bbc.in/2efJYgs

Turkish Government closes 29 publishers http://bit.ly/2f35AhE

3 November 2016 

Musings: On the Westland and Amazon partnership in India ( 25 Feb 2016)

westland-332pxOn 11 February 2016 it was announced that Amazon had bought a 26% stake in Westland Publishers for $1.9 m or Rs9.5 crores. ( http://rtn.asia/t-t/17345/amazon-acquires-stake-in-tatas-publishing-unit-westland and Hindu Businessline http://m.thehindubusinessline.com/companies/amazon-picks-up-26-stake-in-tata-publishing-arm-westland-for-rs-95-cr/article8224355.ece ). Under the definitive agreements signed by Trent, Amazon.com NV Investment Holding LLC and Westland, Amazon will have a right to appoint a director on the Board of Westland and also have the option to acquire the remaining 74 per cent of shares at a later date. In a statement, Westland said the investment by Amazon will enable it to expand its international reach and scale their physical and digital book businesses.

With an estimated market segment of INR 10,000 crores, India ranks seventh in overall publishing and third after Amazonthe US and UK in English language publishing. According to a recent FICCI Publishing Sector Report, book publishing in India is growing at a compound annual growth rate of approximately 30 per cent.  With an estimated 600 million adult readers in the country and a growing young reader base (15-25 yrs) of 350 million, the readership in India is expected to continue growing.

This is a significant development in the Indian publishing industry.

Westland Books has a tremendous stable of commercially successful authors, a strategy they have been in investing in steadily in recent years. Some of these are: Amish Tripathi, Ashwin Sanghi, Ravi Subramanian, Preeti Shenoy, Anuja Chauhan, Rashmi Bansal, Rujuta Diwekar, Devdutt Pattanaik, Dheeraj Sinha, Kiran Doshi, Nilanjan Mukhopadhyay, Ashok Banker and Satyajit Das. Their books sell lakhs of units. ( 1 lakh = 100,000) Their pre-order sales are phenomenal too. These writers have a star power and a fan following that has been unprecedented in the publishing history of India but they are also expensive to retain. (See: 4 March 2013. http://www.ndtv.com/india-news/writer-amish-tripathi-wins-record-1-million-advance-for-south-asia-rights-515121  and 19 March 2015, http://scroll.in/article/714606/why-anuja-chauhan-moved-from-harpercollins-after-eight-years-and-three-bestsellers ) The immediate impact on the publishing firm has been to streamline operations, not just in terms of structural readjustments but also exploring alternative channels of revenue, while growing too. Westland is primarily an English-language publishing firm but has an Indian translations programme with its strategic partnership with Yatra Books. In fact in early February, the Oriya translation of Amish Tripathi’s book had been announced.

Amazon too has been in India for a while. It is better known for its online retail store and self-publishing programme, Kindle Direct Programme or KDP. (It has organised very popular KDP roadshows in India too, proving the Amazon brand is well-known locally.) By investing in an Indian publishing firm, Amazon firmly establishes itself into the literary landscape. Plus, evolving in this manner seems to be in keeping with Amazon’s highly successful Seattle-based publishing programme especially translations. In fact it is significant that press release quoted Sarah Jane Gunter, Director, Amazon Publishing and not Jeff Bezos or an Amazon India representative.

The rising significance of translations in publishing worldwide can no longer be ignored. In April 2015, the New York Times published an article Amazon’s translation programme AmazonCrossing as the most successful publishing programme, leaving even the biggest MNCs and specialist independent presses far, far behind. ( 29 April 2015 http://www.nytimes.com/2015/04/30/arts/international/who-is-the-biggest-publisher-of-foreign-literature-in-the-us.html?_r=0  and Alex Shephard in the New Republic on 19 Oct 2015,” How Amazon quietly became the largest publisher of translated literature” https://newrepublic.com/article/123150/americas-biggest-publisher-literature-translation-amazon  ) . According to Chad Post while doing the calculations for his annual translation database report in December 2015, he realised that AmazonCrossing had the maximum number of titles in the year. It was 75 titles which was three times more than the next publisher. He maintains the wonderful Three Percent blog on the University of Rochester website. ( 6 December 2015, “Translation Database Updates: AmazonCrossing is the Story”  http://www.rochester.edu/College/translation/threepercent/index.php?id=16182#fn14513631225664e866d0983 ) In fact, in Oct 2015, Amazon invested USD $10 m into AmazonCrossing as a commitment over the next five years to increase the number and diversity of its books in translation.

Westland stands to gain twofold – a significant minority provides good financial investment and they will be able to leverage the international area strategically particularly Indian diaspora book market. As an author said to me upon hearing of this announcement, “Now it may be possible for Indian authors to organise book tours abroad.” Whereas Amazon is able to leverage a significant portion of the 600m readership in India with plans to expand in the future. The Indian book market is showing a healthy growth rate across genres. The estimated valuation of Westland with this deal is Rs 38/40 crores – a substantial sum for an Indian publishing firm when its most valuable assets are its authors and backlist. Sarah Gunter too with her experience in children’s literacy programmes will provide expertise into a book market where the estimated readership between ages 15-25 is 350 million. Also, Amazon too, like others in the publishing industry, are exploring omni-channel retailing. Having opened their first brick-and-mortar store in Seattle recently, followed by San Diego and it is speculated that they have another 400 planned in USA, it comes as no surprise when Satabdi Mishra of Walking BookFairs posted on her Facebook wall on 2 February 2016, “Why are Amazon and Snapdeal calling a small independent ‘real’ bookshop for possible collaborations?” Another good reason to invest in a local book publishing programme?

“We are very excited about this investment from Amazon and what it means for Westland, our customers and authors,” said Gautam Padmanabhan, CEO of Westland. “Amazon’s roots are in books and they remain a major part of their business – this investment from a company with such deep experience in books, global reach and exciting digital platforms will help us take our Indian authors and their works globally.”

“We are delighted that our investment in Westland will help their authors reach a broader audience worldwide,” said Sarah Jane Gunter, Director of Amazon Publishing. “Our investment in Westland continues Amazon’s commitment to innovating and investing heavily on behalf of customers in India – it’s still very much Day One.”

Amazon too, like others in the publishing industry, are exploring omni-channel retailing. Having opened their first brick-and-mortar store in Seattle, followed by San Diego and it is speculated that they have another 400 planned in USA. Hence it comes as no surprise when Satabdi Mishra of Walking BookFairs posted on her Facebook wall on 2 February 2016, “Why are Amazon and Snapdeal calling a small independent ‘real’ bookshop for possible collaborations?”

So far it is a win-win scenario for Westland and Amazon.

25 February 2016