An interview with Arnaud Nourry about the future of digital publishing, why he took on Amazon as an opponent and the market potential in India.
With over 17,000 new titles each year and sales of $2,826 million in 2016, the Hachette Livre Group of companies comfortably sits among the Big Five English language publishers.
The Chairman and CEO of the Hachette Live Group since 2003, Arnaud Nourry, was in India recently to celebrate a decade of Hachette India and spoke to Scroll.in about their strategy and the future of publishing. Excerpts from the interview:
It’s been a little over ten years since ebooks came to the market in the form of Kindle. You mentioned a small decline – do you think the market has plateaued? Are there formats other than ebooks that publishers should be looking at?
There are two different geographies to look at for this. In the US and UK, the ebook market is about 20% of the total book market, everywhere else it is 5%-7% because in these places the prices never went down to such a level that the ebook market would get significant traction. I think the plateau, or rather slight decline, that we’re seeing in the US and UK is not going to reverse. It’s the limit of the ebook format. The ebook is a stupid product. It is exactly the same as print, except it’s electronic. There is no creativity, no enhancement, no real digital experience. We, as publishers, have not done a great job going digital. We’ve tried. We’ve tried enhanced or enriched ebooks – didn’t work. We’ve tried apps, websites with our content – we have one or two successes among a hundred failures. I’m talking about the entire industry. We’ve not done very well.
I’m convinced there is something we can invent using our content and digital properties beyond ebooks but I reached the conclusion that we don’t really have the skills and talents in our companies because publishers and editors are accustomed to picking a manuscript and creating a design on a flat page. They don’t really know the full potential of 3-D and digital. So we acquired three video game companies in the last two years to attract talent from different industries and see how we can nurture one another and how we can go beyond the ebook on digital. We need to offer different experiences to our consumers.
Editor’s note: this is a must read interview with some profound insights for publishers across the spectrum