A quick glance at some top publishing stories from the industry trade journals.
PRH UK unveils centralised rights restructure
The Bookseller reports that Penguin Random House UK, in an effort to create “a larger, more nimble rights structure (that) will drive greater growth”, has,
moved to a centralised rights team for the adult trade business, “in order to drive international rights growth across its portfolio and ensure that it maximises opportunities for authors”, boosting the team by two and announcing a number of senior promotions.
The new centralised team (…) will represent Ebury, Cornerstone, Penguin General, Penguin Press, Transworld, Michael Joseph and Vintage. The children’s rights team remains unchanged following a restructure last year.
Penguin Random House told The Bookseller:
This structure aims to deliver the best of being small and specialist whilst leveraging size and scale at the same time: prioritising the distinctiveness of divisions yet also bringing together Rights colleagues to work more collaboratively and effectively in order to drive international rights growth across its portfolio and ensure that it maximises opportunities for authors.
Read more at The Bookseller.
Barnes & Noble Education to “Review Strategic Opportunities” After Another Poor Quarter
Publishers Lunch reports that Barnes & Noble Education has had another poor quarter, and now,
may go the way of the Barnes & Noble retail stores, announcing the hiring of a financial advisor to “review strategic opportunities.” That’s generally corporate-speak for putting a company in play, and they note the move comes “in response to a number of unsolicited inquiries.” But nothing is simple at BNED, and they say the adviser will “assist in a review of strategic opportunities to accelerate the execution of customer-focused strategic initiatives and enhance value for BNED shareholders, including, but not limited to, continued execution of the company’s current business plan, new partnerships, joint ventures and other potential opportunities.”
The numbers? Second quarter sales of $772 million, down 5.2 percent, and net income of $35.9 million, down $23.8 million or 40 percent.
Read more over at Publishers Lunch.
Hachette hosts first Changing the Story Day
Hachette UK held its first ever “Changing the Story Day this week, celebrating, The Bookseller explains,
the work of (Hachette UK’s) diversity and inclusion network and the publishing that underpins it.
Yesterday, more than 500 members of Hachette UK staff attended a packed programme of talks exploring diversity and inclusion at Carmelite House while more than 1,000 participated in a tour of the building to hear about the range of books the company publishes from the publishers themselves and how they can address issues raised by the Changing the Story programme. Colleagues in Australia and New Zealand, India, Ireland, Singapore, Hong Kong and the Caribbean also marked the day in their own way.
Read more at The Bookseller.
PRH Uses UK Designer for Holiday Campaign, Donates 300,000 Books
Penguin Random House’s new Christmas gift site is under the spotlight over at Publishing Perspectives.
There may be no publishing market in world publishing that loves its campaigns as much as the UK does. After all, it’s the home of Books Are My Bag from the Booksellers Association and Midas PR, a tote-bag fest that’s been revving readers on the high street since 2013. After so many years, it still was one of six finalists in The Bookseller’s trimmed-down roster of FutureBook Live awards last week.
So it’s probably not surprising that the American flagship Penguin Random House (PRH) went to London to find a designer for its 2019 holiday sales campaign.
Anyways Creative in Downham Road (“Adventurous and Meaningful Creativity for Brands”) got the account. A look at Anyways’ own site will prepare you for the big screenful of opaque color you get at PRH’s Books Make Us Better site, a wall-of-pastel effect you see at many European sites these days.
Read more over at Publishing Perspectives.