How Much, if Any, Should Publishers Diversify Beyond Publishing?

In Discussion by Edward Nawotka

Producing movies, booking speaking tours, teaching creative writing…what more can publishers due to drive revenue?

By Edward Nawotka

20-dollar bill on a fishing hook

Publishers looking for ways to expand their revenue stream have expanded into offering a variety of services — from producing movies, to booking speaking tours, to — as mentioned in today’s feature story — opening creative writing schools and offering services to other publishers. Faber & Faber has even stopped calling itself “a publisher” and now describes itself as “a publishing house bringing services to readers, writers and others.”

How far can publishers go? Earlier this year it was suggested publishers might open their own bookshops, like they did in days past — but with the decline in shelf space and retail sales in general, this looks like a bad idea. What more can publishers due to drive revenue?

Let us know what you think in the comments.

About the Author

Edward Nawotka

Edward Nawotka is the Editor-in-Chief of Publishing Perspectives. A former foreign correspondent, he has covered the book business exclusively since 2000, serving as daily news editor for Publishers Weekly and columnist for Bloomberg News.