Penguin Random House Posts

“Keeping The Word”, PubSpeak, Dec 2013

“Keeping The Word”, PubSpeak, Dec 2013

( PubSpeak in December 2013 is about trust deficit. It has been published originally in BusinessWorld online. Here is the url: http://www.businessworld.in/news/books/columns/keeping-the-word/1175440/page-1.html I am also c&p the text below. 4 Dec 2013
PubSpeak, Jaya

Publishing industry too has its share of tales where people have not honoured their word or fulfilled contracts. Jaya Bhattacharji Rose writes of ways to prevent these

Some time ago, I received a message on Facebook from a distraught illustrator. The illustrator had been commissioned by a prominent publishing house to create paintings for a book cover design of a forthcoming young adult novel. The cover had been through three draft designs and had been approved by everyone including the author. At the final stage, some design changes were asked for. The illustrator was not happy. Nevertheless, in complete faith, the illustrator decided to submit high resolution files of the altered paintings since the project was nearing completion. But the relationship came apart (and legal recourse had to be taken to) because the art director of the publishing house refused to honour the contract, withholding part of the payment due on the grounds that the design had been created inhouse. But there is barely any difference other than the shade of colour and the size of the images if you compare the designs submitted by the illustrator with those that were done inhouse. Since then, the first illustrator has refused to work with the publisher.

Twenty years after the publication of ‘A Suitable Boy’, fans of Vikram Seth were waiting in anticipation for the sequel – A Suitable Girl. Unfortunately Seth did not deliver the manuscript in time to Hamish Hamilton. Soon after the merger of Penguin Books and Random House was official in July 2013, this book was one of the earliest casualties. The author was asked by the publishers to return the $1.7 million advance for a two-book deal, including the paperback rights of ‘A Suitable Boy’, bought off Orion publishing. According to media reports the new group — Penguin Random House — is expected to cut costs as it tries to compete better with new forms of publishing and competition from online rivals such as Amazon. Fortunately for the author, his original publisher Orion, stepped in and is committed to publishing A Suitable Girl in Autumn 2016.

Disturbing Trend
The world of publishing is full of such stories — some tamer than others. People yearning to be published, some having been published, some selling better than others, some getting noticed critically more than the others, many satisfied with what they have achieved, yet there is a constant subterranean rumble of unpleasant anecdotes. Many of the stories, often open knowledge to ‘those in the know’, deal with plagiarism, contracts not being honoured, copyright violations, disappointment about advances, dissatisfaction about contracts drawn or negotiations about rights hitting nasty patches, sales and marketing executives not fulfilling orders, bookstores not adequately stocked, at times even missing titles that have been shortlisted for literary prizes.A popular topic of conversation is the efficiency of vendor management systems and authors stealing ideas from each other. The stories are about professional relationships being affected, relationships that are forged, nurtured and sustained by humans. These, in turn, affect the commissioning potential of editors and the formation and evolution of lists and imprints, the emergence of new ideas and creative collaborations and more importantly the growth of the business of publishing.

According to the Oxford English Dictionary, to “publish” is defined as “prepare and issue (a book, journal or piece of music) for public sale. Print in a book or journal so as to make generally known.” A “publisher” is a company or person that prepares and issues books, journals, or music for sale. In traditional forms of publishing, that is, the printed form, specialist knowledge of the processes involved including sales, marketing and distribution was essential. Many of the books published were and are inevitably born out of a conversation (or a “gentleman’s agreement”) that a commissioning editor has with the author (or the content creator, as the ‘author’ could even be another publisher or an organisation, and not necessarily an individual). It is after a series of negotiations based on trust that the business details of the arrangement are thrashed out and subsequently enshrined in a written and signed contract. These are then preserved and referred to for the time that the firm has the license to publish the book(s).

For many authors/illustrators this is a smooth process and continues to be so. From the moment authors are signed on, they begin to be a little more aware of their rights, wanting clarity on the royalty statements, visibility and easy availability of the book in all formats and kinds of stores. Publishers too want professionalism from the content creator and other collaborators on the project. Similarly bookstore owners/online retailers/customers want quick fulfillment of their orders. Readers want satisfaction from the books that they read.

So, What Next?
Every October, publishers from around the world flock to the publishers’ mecca, the Frankfurt Book Fair, for a week of intense conversations and meetings. This time the news emerging from the Frankfurt was about the most innovative and viable method of connecting books with readers, these were mostly reserved for the digital domain. Some examples of digital-only imprints are HarperCollins India’sHarper21; Italy’s RCS Libri’s Rizzoli Lab, dedicated to experiments in digital; Indireads presenting modern South Asian literature in digital friendly formats.; HarperCollins established HarperTeen Impulse; Random House launched Loveswept, Hydra, Alibi, and Flirt; Harlequin has Carina Press and Bloomsbury has Bloomsbury Spark.

Another tactic is to create blogs on publishers’ websites where most host curators prefer to focus only on their books and authors. The Melville House publishing house’s blog has to be one of the richest in its generosity of sharing accounts, stories and opinions related to books and not necessarily confined to its own lists.

Today, with social media platforms like Twitter, Facebook, and Pinterest, content creators (authors, illustrators) can have conversations directly with other publishing professionals. A democratisation of the system that is challenging established business models of publishing. A notable result has been the rapidity with which self-publishing has become an attractive proposition — primarily because the author is in control of producing his book in all formats, can track the distribution and sales and is responsible for the promotion of the book. With the number of authors opting for this form of publishing it is no surprise that even traditional publishers are offering self-publishing services as an option.

Through this wonderful burst of creative energy and proliferation of platforms for publishing, two facts stand out. First, these innovations are obvious responses to the changing environment of publishing. Second, given how complex the book market is becoming, with new channels of news dissemination and distribution, publishers are being innovative in accessing readers and customers. But these new business models of outreach will only be successful if publishing professionals do not keep their word and the growing “trust deficit” in the publishing eco-system is not addressed immediately.

Stuart Diamond writing in his bestseller ‘Getting More’ says “Trust is a feeling of security that the other person will protect you. …The major component of trust is honesty—being straight with people. Trust does not mean that both sides agree with each other, or are always pleasant to each other. …Trust is something that develops slowly, over time. It is an emotional commitment to one another based on mutual respect, ethics, and good feeling. …lack of trust has a cost.”

These challenges exist in all industries but it is slightly different for publishing which relies upon human relationships and creativity for growing the business organically. For it to be a sustainable business model, there has to be bedrock of trust among all stakeholders, irrespective of the format they choose to publish in.

The writer is an international publishing consultant and columnist

@JBhattacharji

PENGUIN RANDOM HOUSE ACQUIRES FULL OWNERSHIP OF PENGUIN BOOKS INDIA

PENGUIN RANDOM HOUSE ACQUIRES FULL OWNERSHIP OF PENGUIN BOOKS INDIA

Penguin Random House

(October 3, 2013, New Delhi, India)—Penguin Random House today announced the completion of its purchase of Ananda Publishers Private Limited’s minority stake in Penguin Books India.

Penguin India was formed in 1985, with UK-based publishing house, Penguin Publishing Company, holding a 40 per cent stake, which it later increased to 55 per cent. Penguin Random House has now acquired the remaining 45 per cent, and takes 100 per cent ownership of the Penguin India.

John Makinson, Chairman of Penguin Random House India, said, “The partnership between Ananda Publishers Private Limited and Penguin in India stretches back more than 25 years and has created a local publishing company that leads the market in both size and reputation. My friendship with Arup and Aveek Sarkar has been one of the highlights of my Penguin career but there is always a right moment to move on professionally, and the watershed merger of Penguin and Random House provides it. The two wholly-owned companies are now combined under the leadership of their CEO, Gaurav Shrinagesh, who will be able to build on the legacy of these two fine India publishing houses.”

Gaurav Shrinagesh, CEO Penguin Random House India, observed, “The merger of Penguin and Random House has brought together India’s two most successful publishing houses, and we are delighted that with the completion of this deal, they now are fully united as Penguin Random House India. Under the partnership with Ananda Publishers Private Limited, Penguin became one of the most recognizable and respected publishers in India. We are now looking forward to building on this foundation with our talented authors and colleagues from across the whole of Penguin Random House India.”

With offices in Noida and Panchsheel Park, Delhi Penguin Random House India publishes many of the most recognisable and successful authors across the sub-continent in adult and children’s fiction and nonfiction published in hardcover, paperback, audio, and digital editions.

About Penguin Random House
Penguin Random House (http://www.penguinrandomhouse.com/) is the world’s first truly global trade book publisher. It was formed on July 1, 2013, upon the completion of an agreement between Bertelsmann and Pearson to merge their respective trade publishing companies, Random House and Penguin, with the parent companies owning 53% and 47%, respectively. Penguin Random House comprises the adult and children’s fiction and nonfiction print and digital trade book publishing businesses of Penguin and Random House in the U.S., U.K., Canada, Australia, New Zealand, and India, Penguin’s trade publishing activity in Asia and South Africa; Dorling Kindersley worldwide; and Random House’s companies in Spain, Mexico, Argentina, Uruguay, Colombia, and Chile. Penguin Random House employs more than 10,000 people globally across almost 250 editorially and creatively independent imprints and publishing houses that collectively publish more than 15,000 new titles annually. Its publishing lists include more than 70 Nobel Prize laureates and hundreds of the world’s most widely read authors.

3 October 2013

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