HarperCollins CEO Jane Friedman took her message that book publishing remains a vibrant business to New York City's Small Press Center October 23, where she was the most recent guest in the center's interview series. In an interview with Christopher Lehmann-Haupt of the New York Times, Friedman said that contrary to the naysayers, "book publishing is alive and well."
She said that rather than "bemoan" the challenges presented by new technology, publishers should embrace it, noting that she is "very interested in e-books." Friedman said HC's e-book imprint, PerfectBound, continues to grow rapidly, albeit from a small base, and the company is steadily using the Internet as a marketing tool. Friedman said she is not worried that greater competition for the public's time from new technology devices will cut into book reading because America "is a society of multitaskers. The more ways to gather information the better."
Friedman dispelled the suggestion by Lehmann-Haupt that the conglomeration of publishers will result in important books not being published. The combination of new small presses being formed and the growth of online vanity publishing ensures that if a book is worthwhile it will be published, she said. A number of authors who were first published by online publishers have been signed by major houses, she noted. Friedman said that since HC no longer has the resources to read unsolicited manuscripts, online publishers provide an important outlet for new authors.
Friedman's strategy for profitable publishing is to develop a broad-based company that doesn't rely on brand-name authors to generate sales. "Profits come from the breadth of the list, not the top of the list," she said. There is no contradiction in publishing good books and making a profit, she said. "Publishing is a business."
Although the importance of brand-name authors may be waning, Friedman said she expects to see more attempts by publishers to brand certain imprints. Another trend Friedman sees continuing is books sold through more distribution channels. Mass merchandisers, such as Target and Wal-Mart, are expanding their book selections, and Sears is about to recommit to bookselling, she said. Asked whether she was concerned that Wal-Mart might censor the titles it carries, Friedman said publishers "have no right to tell a bookseller what is right to carry." She said she was "happy mass merchandisers are broadening their [book] selections."
