Publishing industry

Trevor Dolby looks at the payments model of new publisher Authors Equity

The finances of indie publishing are broken. We need a radical rethink.

'Making publishing an industry where people without any kind of financial back-up can work would help the industry become more inclusive'

The rich have got richer as the top 10 global publishing groups saw a collective double-digit jump in sales in 2022. Yet those just outside the highest echelon stuttered, with revenue flat or falling for the next tiers of international conglomerates, as post-pandemic and cost-of-living crisis slowdowns took a toll.

In a move that some in the industry will welcome as putting at least a temporary stop to industry consolidation, the private investment firm KKR has reached an agreement with Paramount Global to acquire Simon & Schuster for $1.62 billion in an all cash transaction.