Readers at BookExpo?

If like me you have stayed over the weekend at the Frankfurt bookfair on even one occasion you will know that the fair opens to the public. A public largely interested in reading and publishing. The startling thing about this is that on each day YOU CAN'T GET DOWN THE AISLES FOR THE PEOPLE!

I bring this up because not only do the US and UK publishers bitch and moan about having to man their booths at Frankfurt - and generally, myself included, the executives tend to evacuate early Saturday anyway - but these same publishers are not interested in opening up BookExpo to the public either. Admitting there are some logistical issues, but in the face of a BookExpo where the most common statement on the floor seemed to be 'will this be the last or second last' one, I would argue opening BookExpo to readers and customers might not be such a bad idea. Actually, I don't have to argue it because Richard Nash has done so on the PW show blog this morning:

I draw the following conclusion. The publishing business is not in trouble because there's no demand for books. It is in trouble because there are changes afoot in how best to satisfy the demand, changes to which there are suitable responses, two of which are fostering fan culture, and generating a sense of occasion, and the leaders of the largest publishing organizations are failing in their professional responsibility to implement these responses. By reducing their participation in BEA at the same time the media participation has increased by almost 50%, by refusing to open the Fair to the readers on Sunday, these CEOs have effectively thrown in the towel. They are managing the demise of the book business, pointing fingers at any generic social forces they can find, failing to see the one place the responsibility can be found, their own damn offices.

Kindle Sales: Nothing, Nada, Never

News - not too shocking - that Amazon may never release Kindle sales not only adds a new dimension to the developing problem of how the industry counts itself but there's also a possible darker side. Since the company attributes their attitude to competitive issues that to me also indicates a willingness to disemble; that is, they will continue to provide misleading and partial information regarding these sales. As a result we will continue to see a variety of interpretations of the data that is provided, both by people who should know better, and worse, by people who have no grounding in publishing dynamics. It's the last set we worry about.

Don't Forget: Blogger Signing at BookExpo; 1pm Saturday

Firebrand Technologies has organized a 'blogger signing' at their booth 4077th during BookExpo and I am participating. It sounds like a lot of fun and an opportunity to meet a lot of blog readers across a spectrum of topics. Firebrand is the owner of a great application named NetGalley which automates the process of providing review copies to reviewers. Sign-up if you are a reviewer and don't forget to come by the 4077th booth to meet all of us.

I will be at the booth at 1pm on Saturday - pen in hand.

(Bare in mind however, that I will not be signing any body parts and generally speaking a hand shake will do).

Here is a note from Firebrand:

Firebrand is thrilled to announce that 44 bloggers signed up to be at our booth (#4077) during Book Expo America. It’s clear from how quickly this idea went from concept to reality, that book bloggers need and want to create community-to-community relationships with publishers, retailers, and readers. This is an incredibly exciting time in publishing!

We invite every publisher at BEA to review this schedule and mark their calendars, so they have a chance to meet the bloggers who are helping to sell their books.

The schedule is below. We have a couple of new entries (Sarah Weinman, Ed Champion, and Austin Allen) not listed below, or if you have trouble reading the layout below, Click Here

You can also see the list here.

Publishing Under 25

It was nice to hear Eric Hippeau of Softbank say pretty much the following from my Pimp My Print post:

If I were heading a publishing house, I would hire a band of 25-30 year old editors/writers, give them a budget to acquire content and have them build a new 'publishing' operation unfettered by print runs, business models and pub dates. Their responsibility would be to create content a target market valued enough to use, to experiment in how to monetize the content and to be able to replicate the model. With guidance - not oversight - provided by the many experienced managers that exist in a typical publishing house the team won't fail. And yes, I would do this TODAY.

He actually said round them up from within your own organization and he did intersperse a 'good luck' but essentially the point was the same. Unfortunately, Eric and the moderator Chris Anderson were off the subject for most of the discussion and there was little real information about "directing investments into new media" which these two were/are uniquely qualified to address. Pity.

BookExpo: Session Picks

These are the sessions today and tomorrow that I think you would want to attend:

Thursday:

The Impact of Free (and Piracy) on Book Sales: An Update on The Piracy Project
9:30AM - 10:30AM (Thursday, May 28, 2009)
As digital content has become more available and more commonly distributed in book publishing, fears of piracy and lost sales have grown. While the debate over the impact of free content has been at times heated, the discussions are more often than not characterized by a lack of hard data. To address this data gap, O'Reilly Media began a project in 2008 to characterize the free universe, catalog and assess recent experiments, establish ways to measure the benefit or cost of free distribution and conduct some follow-on experiments of our own. Come to this session to hear an update on this ongoing study.
Presenter: Brian O'Leary - Principal, Magellan Media Consulting Partners

Stay Ahead of the Shift: What Product-Centric Publishers Can Do to Flourish in a Community-Centric Web World
11:00AM - 12:00PM (Thursday, May 28, 2009)
Publishers have necessarily been focused on short-term changes in their market environment because they've been happening fast. EBook sales are rising more quickly than anything else But Mike Shatzkin is thinking of much bigger changes than these. He looks out a couple of decades and imagines a world more different than today's than the world of 20 years ago is different from today's. He challenges the most basic assumptions we have always accepted that a book is "finished" when an author turns it in, that audiences are mostly reached through intermediaries, even that publishing is about products and paints a believable picture of a completely different media and content world which, he maintains, is coming whether publishers like it or not. so they require attention, but they don't amount to much yet in the way of sales. Individual title marketing, which worked through a bunch of "usual suspects" that hardly changed year to year, has become a game of Whack-a-mole, with new blogs and social networks popping up for every book between the time you get a manuscript and the time you print a book. And sales channels and how you reach them are shifting with new online accounts sprouting while many brick-and-mortar accounts are dying and catalogs, sales conferences, reps dedicated to bookstores, and even "publishing seasons" themselves are endangered species.
Presenter: Mike Shatzkin - Founder & CEO, Idea Logical Co, Inc

A Discussion with Softbank Capital's Eric Hippeau on where VC Dollars are Flowing and What it Means for Publishers
1:30PM - 2:30PM (Thursday, May 28, 2009)
New and radical innovation has accompanied each recession for the past four decades. And though the financial meltdown is historic in its roiling of hedge and mutual funds, there is still a substantial amount of uninvested money that will be invested soon. Couple this with the impact of new broadband and mobile media applications changing consumer behavior, and publishers are left with a future of media influence uncertainty. That is, unless you are talking with a major player who is directing investments into new media. Don't miss this discussion between Wired's Chris Anderson and Softbank Capital's Eric Hippeau as they dig into the detail of what's hot and where the VC dollars are flowing.
Host: Chris Anderson - Editor in Chief, WIRED, author, FREE
Guest: Eric Hippeau - Managing Partner, Softbank Capital

The End of the Supply Chain and the Beginning of the True Book Culture
2:30PM - 3:30PM (Thursday, May 28, 2009)
Knowing what we now know, about media and content in the digital networked age, and recognizing we may not yet know that much, let''s now ask ourselves: what might the ideal publishing company look like? Had we it to do over again, how would we build a system for connecting writers and readers? Richard Nash gave up his job in order to start to answer those questions and here offers his thoughts so far...
Panelist: Dedi Felman - (formerly) Sr. Editor, Simon & Schuster
Presenter: Richard Nash - (formerly) Publisher, Soft Skull Press

Friday:

D2T2: Digital Debut Tool Time
9:30AM - 10:30AM (Friday, May 29, 2009)
An insider’s presentation of new and soon-to-be-mainstreamed web-based entities providing innovative digital services and tools to authors, publishers and readers.
Moderator:

Mike Shatzkin - Founder & CEO, Idea Logical Co, Inc
Presenter: Peter Clifton - President & Ceo, FiledBy, Inc.
Mark Coker - founder & CEO, Smashwords, Inc.
Hugh McGuire - co-founder & President, BookOven

Do Publishers Still Hold the Keys to the Kingdom? A Panel of Authors Weigh In
2:00PM - 3:00PM (Friday, May 29, 2009)
Book publishers have been criticized for their reluctance to adopt new technologies. Yet their tepid forays into the digital media world have been due in part to flavor-of-the-day platforms that leave even the experts guessing what technology will be around tomorrow. Our panelists will discuss some of the thorniest issues facing old media today, what old media can learn from new media and what both must do to adapt and survive. NOTE This panel will be held on the Downtown Author Stage
Moderator: Steven Johnson, author of The Invention of Air, The Ghost Map, Everything Bad is Good For You, and other bestsellers
Panelist: Chris Anderson - Editor in Chief, WIRED, author, FREE
Lev Grossman, Sr. Writer & Book Critic, Time and author, The Magicians
Tom Standage, Business Editor, The Economist, and author, An Edible History of Humanity

Canon Tales: 7x20x21 - Sponsored by The New Yorker
4:30PM - 5:45PM (Friday, May 29, 2009) A unique event designed to inspire conversation, creativity, and passion for the future of publishing. It was born in the UK, where the most recent event at the London Book Fair was presented to a standing-room-only crowd.
Our panel will be the first US adaptation. Ten presenters who are at the forefront of what is exciting in publishing now will be given seven minutes each to present their stories to the crowd. Their presentations will be accompanied by a Powerpoint presentation of 20 slides, with a strict 21-second limit per slide, which forces the presenter to keep the presentation moving forward quickly. Our guidelines for what they discuss will be left wide open, in order to encourage a wide range of topics and styles of presentation throughout the panel. NOTE This panel will be held on the Downtown Author Stage.
Presenter: Debbie Stier, Harper Studio; Richard Nash, former publisher of Soft Skull; Lauren Cerand, PR rep; Jeff Yamaguchi, Digital Marketing, Random House; Mat (Some one - name cut off on program).

SharedBook Launches Platform Supporting Google Book Search Discussion

SharedBook.com has launched a site that enables stakeholders and the public at large to annotate the Google Book Settlement and other related documents. The website leverages the company's editorial platform so that users can match comments and annotations directly to the locations in the text to which the comments pertain. This technology is already in use with some of SharedBook's clients and users of the GBS application of this tool can also print the official documents together with any comments they think important. These comments can be both their own as well as those of the community. Here is an excerpt from their press release:

Until now, discussions on the Google Book Settlement have been taking place across fragmented forums. Now, for the first time, policymakers, businesspeople, scholars, journalists and others have the opportunity to come together and engage in a granular, contextual dialogue on this important topic. Our platform supports comments and responsive statements in real-time, linking them directly to the Google Book Settlement and accompanying documents through online footnoting, always preserving the original documents in their original form. As a result, the Google Book Settlement site becomes an informed and transparent analysis of key points of the settlement by its most concerned stakeholders, available to anyone on the Web.

The platform also offers a compilation and print capability, allowing books to be created from the content with any combination of annotations, which appear in the book as footnotes. We invite all interested parties to participate in this discussion, and to be a part of the debate on this very important subject.

Visit the website here.

Update:

David Rothman (Teleread) also comments on this announcement and makes a statement that I believe indicates exactly the promise of this SharedBook application:

The obvious questions: What annotation sites exist to let anyone mark up federal documents here in the States? Elsewhere? Any sites from governments themselves? And via APIs, standards and in other ways, just how can governments foster the growth of such sites? Also, what about the issue of special interest groups using the sites without identifying themselves? What place is there for anonymous comments? What to do about deliberate information? And how does the media fit in, given all the enticing linking possibilities? The issues go on and on.

Borders Looks for "Selling Culture"

Admitting that hand selling is nothing new, Border's CEO Ron Marshall spoke about returning the company to one driven by sales rather than cost containment and supply chain improvements alone. In the press release accompanying their first quarter results he expands on this point,

"We continued to strengthen the financial structure of the company by making further improvements to cash flow, debt and adjusted EBITDA," said Borders Group Chief Executive Officer Ron Marshall. "Make no mistake about it, we have much more work to do and will continue to maintain our financial discipline. At the same time, we know that we cannot save our way to prosperity. Our long-term success will come from doing a much better job of driving sales and that's where our focus is right now."

The company reported significant top line declines in comp store sales; however, the company is making significant improvements in store product mix, supply chain costs and other key areas. The company saw significant improvements in certain product line gross margins but the proactive reduction in multi-media sales (DVD, Music) hid much of the improvement. The company also appears to have improved its debt position and according to their CFO is in compliance with all debt coverage obligations.

Other key metrics from their press release:

• Adjusted EBITDA in the first quarter was $3.0 million compared to an adjusted EBITDA loss of $14.3 million a year ago.
• First quarter cash flow from operations improved by $19.5 million over last year.
• Operating SG&A expenses and inventory were reduced from the prior year by $48.1 million and $254.9 million, respectively.
• Debt at the end of the first quarter was reduced by $266.0 million to $325.9 million a 44.9% reduction over a year ago and $10.3 million or 3.1% less than the end of fiscal 2008.
• Total consolidated first quarter sales were $641.5 million, down 12.1% from the prior year.
• Comparable store sales for the first quarter declined by 13.5% and 5.5% at Borders superstores and Waldenbooks Specialty Retail stores, respectively.

On an operating basis, the company generated a first quarter loss from continuing operations of $15.9 million or $0.27 per share compared to a loss of $30.5 million or $0.51 cents per share for the same period a year ago. On a GAAP basis, the first quarter loss from continuing operations was $86.0 million or $1.44 per share compared to a loss of $30.1 million or $0.50 per share a year ago. The $1.44 per share loss includes $1.17 per share of non-operating charges that were primarily non-cash.

On a side note, it looks like someone hacked their web site, (Link) and I am sure they will get that fixed soon.