Publishers

When Hachette Book Group acquired Workman Publishing, HBG CEO Michael Pietsch observed that Workman was one of the biggest, if not the biggest, remaining independent trade publishers left in the U.S. Based on available data, a case could indeed be made that Workman was the largest of its kind. Which has raised a question in publishing circles: why are there so few independent publishers of size? There is a dearth of what can be called midsize publishers that fall between the Big Five and the many independent publishers with sales of $20 million or less.

The Houghton Mifflin Harcourt trade division, with 2020 sales of $192 million, was what could have been considered a mini-major before it was acquired by HarperCollins. The Scholastic trade group, with sales of $355 million in the fiscal year ended May 31, is a major player in the children’s trade market, but as part of a $1.3 billion publisher, it is clearly not independent. Other trade publishers that could be considered midsize that are also part of larger companies are Disney’s publishing division and Abrams, which is owned by the French company La Martinière Groupe, which was itself acquired by Media Participations.

Traditional book publishers. They were once known as the titans of the book publishing industry. In the Baby Boomer era, self-publishing was an unknown concept. You needed a traditional publisher if you wanted the best chance to succeed with your book.

During that time, there was significantly less competition for publishers and authors, meaning more book sales for both parties.

Over time, traditional publishers (especially The Big 5) gradually started to exploit authors by offering lower royalties and seizing the author’s publishing rights.

Not so long ago, writing and publishing your own book was just a pipe dream for many of us.

It wasn’t so much getting the words down on paper which was putting us off.

It was more the expense of either finding an agent and a publisher or paying through the nose to print dozens of copies yourself which might have ended up unsold and gathering dust in the garage.

But that is resoundingly no longer the case. Digital publishing and online booksellers such as Amazon have been an absolute game-changer.

This is a story about a book that just kept selling, catching publishers, booksellers and even its author off guard. In seeking to understand the reasons for the book’s unusually protracted shelf life, we uncover important messages about our moment in history, about the still-vital place of reading in our culture, and about the changing face of publishing.

The book is Sapiens, by the Israeli academic Yuval Noah Harari, published in the UK in September 2014. It’s a recondite work of evolutionary history charting the development of humankind through a scholarly examination of our ability to cooperate as a species. Sapiens sold well on publication, particularly when it came out in paperback in the summer of 2015. What’s remarkable about it, though, is that it’s still selling in vast numbers. In its first two and a half years of life, Sapiens sold just over 200,000 copies in the UK. Since 2017, when Harari published Homo Deus, his follow-up, Sapienshas sold a further half million copies, establishing itself firmly at the top of the bestseller lists (and convincingly outselling its sequel). Sapiens has become a publishing phenomenon and its wild success is symptomatic of a broader trend in our book-buying habits: a surge in the popularity of intelligent, challenging nonfiction, often books that are several years old.