R&D

Some commentators say the publishing industry is in enormous trouble today. They are completely wrong, and I don't understand that view at all"

Tom Weldon, UK chief executive of Penguin Random House

Quoted by The Guardian, three months ago already, as "one of the biggest players in Britain's book world". Now... No, he wouldn't. And, apparently, neither would The Guardian. PRH is, by far, THE biggest player.

However... the article goes on to... wax about PRH having "15,000 writers" and "He stresses the 200 to 250 debut writers Penguin Random House publishes every year."

Hm... that explains a lot. See... At best, that's 1.67% of the publishing equivalent of R&D. That's quite on the low end of R&D. On part with metallurgy, for example. Below half the US average. A value associated with low-risk, low-technology enterprises. Yes, I'm not using proper investment ratios... but. In fact, it might be lower, since the bulk of best-sellers revenue is used to pay best-selling writers, not reduced advances.

My point is that they act like a low tech/risk enterprise. And yet, they expect to compete with Amazon, CreateSpace, and small publishers. Publishers who compete with Hachette in number of new books a year, who market their e-titles aggressively, join Bookbundles and such.

An industry that's supposed to be progressive.

It's gonna hurt, boys.

Take care. [EDIT: Forgot to link the original article]