The Russian market’s book publishing sector has been designated by the state as eligible for special financial support during the pandemic.
As much as 75 percent of the Russian book industry’s usual domestic profits may be lost during the closures of physical bookstores in the pandemic.
With ongoing operations in Europe and North America, the Russian children’s book publisher will focus in 2020 on Japan, China, and Vietnam.
Even as many parts of Europe have seen an easing of VAT rates on digital reading, Moscow is planning to raise its tax rate on books.
In Russia, book prices are rising as production and sales slow, according to figures cited by the 102-year-old Russian Book Chamber.
VKontakte, the most popular social network in Russia with 100 million active users, is working with book publishers to offer audiobooks to its network as early as next month.
The chief of St. Petersburg’s comics and graphic novels publisher Bumknigo says it’s unlikely the sector will find the traction it has in France or the US.
The growing popularity of ebooks in Russia is prompting some publishers to look at online serialization as an option for distribution and sales, both as an offer to consumers and to writers of works in progress.
Reading in Russia, says publisher Boris Kuznetsov, is ‘a fashionable and intellectual trend’ for a new generation of consumers—who may be watching Netflix.
Credited by some to a growing post-Soviet interest in authoritative information, the Russian book business reportedly sees substantial gains for nonfiction.