2016 — A Year With Immense Opportunities For Book Publisher’s Industry
Predictions are the most common thing with the beginning of a new year. Experts in every industry come up with assumptions and predictions on the basis of previous year analysis and their experience. Though these are full of complexity and uncertainty, these still work as a guideline in strategy formation.
This article includes some predictions for Indian publishing industry to help readers, publishers and authors get an idea of future.
1. There will be more demand of ebooks
The previous year was not so good for traditional publishers due to the high demand of ebooks. Though the ebook market has reached its maturity level, there will still be enough demand of the books. High-quality and school ebooks will be there in the market, giving school book publishers an opportunity to grow.
2. The year will be positive for print sales
There have been talks about the demise of the print book market, but 2016 will prove all those rumors wrong. With a new generation of bookstores and the strong demand for print books, the publishers are taking advantage of the situation by pushing their prices up. Though the overall percentage keeps changing, it is still more powerful than ebooks.
3. Audio and children’s publishing will lead the industry
If you are a publisher who made money in 2015 by focusing on adult books, look for other options in 2016, as this will not help you anymore. The audio, children’s and school book publishers in India will have an upper hand with more growth of this segment. The publishers like Cambridge India, who invested in school book publishing will reap the benefits in 2016.
4. Emergence of book fairs
Unaffected from the reduced footfalls, the book fairs will get more focused on direct marketing to generate business. These will also broaden the scope by including more children’s books.
5. Publishers will focus more on brand partnerships
Association with leading brands helps publishers grow their business. This helps them reap the benefits from the brand partnerships. Cambridge India is one of the best examples, which has an association with the leading school book publishers. Students and parents can find various books from different publishers along with the details and buying link.
Publishers can build relationships with different brands to promote the sale of their books in different genres like coloring books, story books, syllabus books etc.
6. Right management will be the success mantra
With increased dependency on different authors, licenses and brand associations, in 2016 publishers will also have to focus on right management. With more usage of ebooks, they also need to focus on IP possession to save their rights. If you are still stuck to Excel spreadsheets to manage your rights business, you are seriously putting your operations and data at risk.
The years will change, the authors will change but the publishing industry will continue to flourish like this only. You just have to prepare yourself for the changes and grab the opportunities offered by these changes.
These are only a few predictions for 2016. Hope you find these helpful. There can be various other assumptions. If you also know about some, help other publishers, readers and authors by telling about the same through comments.