Published on January 30, 2018 04:29:52The number of subscribers for the major publishers is far higher than for the other publishing companies in Canada, with most of the industry’s biggest players reporting their subscriber counts in the tens of thousands.
As well, Canada’s publishing industry has seen a steady decline in revenue in recent years, but it’s still far from a recession.
The number of books sold to consumers has also remained relatively stable for years.
What’s more, most Canadian publishers are still paying their authors royalties on time and in full.
According to data from Ingram Book Group, the number of royalties owed by Canadian authors increased to $3.1 billion in the first quarter of 2018.
The figures, which include authors’ royalties for publishing their books, show that a record number of Canadian authors have been paid for their work in the past year, even as the industry continues to face tough times.
A big chunk of the publishing industry’s revenue comes from royalties.
(Submitted by Ingram Book group)For example, bookstores that sell books from Canadian publishers and pay royalties on their behalf account for the vast majority of the sector’s revenue.
For a publisher, this means they are paying their artists the money they deserve.
However, they’re also responsible for their authors’ books being published, and that’s where some publishers are losing money.
A major problem for many Canadian publishers is that they’re unable to pay the money owed on their books on time.
According to Ingram Book’s data, the industry lost $1.5 billion in royalties between 2015 and 2018.
“We don’t know exactly how much is owed by the authors because we’re not able to audit the books and pay the royalties that they’ve been promised,” said Gregor J. Murphy, Ingram Book chief operating officer.
Murphy said it’s a big issue that publishers must consider if they want to keep their publishing businesses afloat.
“If you want to maintain your revenues, if you want your authors to continue publishing and being paid, you have to take the time to pay them,” he said.
Murph said he doesn’t know the exact figure of what the authors are owed, but he expects the industry to eventually reach a compromise with its authors over how much they’re owed.
“I think it will happen over the next few years,” he added.
“There’s a lot of interest out there in how to pay writers, and we want to be part of that conversation.”
In 2018, publishers reported total revenues of $7.5-billion, up 2.2 per cent from 2017.
The majority of that money went to bookstores and retailers, with some of the biggest players paying an average of $3,700 per book.
A large part of those profits came from Amazon.
According a report from the Association of Canadian Publishers, Amazon earned $2.1-billion in royalties in 2018, up from $2-billion a year earlier.
According for the most recent year, Amazon was the dominant publisher in Canada with $6.3-billion.
“They are the largest single publisher in the country,” said Robert Friesen, an author, publisher and publisher who has published on the Harper’s list.
“It’s a great industry for authors and publishers.”
While some publishers like HarperCollins and HarperCollins Canada are making a big push into the marketplace, many other publishers, like Simon and Schuster and Harper Collins Canada, are not as active.
“It’s certainly not the case that we’re all doing that kind of big push,” said Murphy.
“We’re not all competing in that space.
There’s certainly a lot more activity, but I think the big players are still getting the lion’s share of that revenue.”
According to the Authors Guild, the largest publisher in North America, it was the publishing sector that accounted for 40 per cent of the Canadian income for authors in 2018.
In 2018, authors earned $3-million per book, up 6 per cent.
“While it’s clear that the Canadian publishing industry is experiencing a decline, it’s important to recognize that it’s only a small percentage of the entire industry,” said Kate Kwan, director of business development at the Authors Association of Canada.
Kwan said many of the other major players in the industry are also seeing some of their revenues drop.
“That is not the best thing to happen to the industry,” she said.
“This industry is not going away anytime soon.
There are going to be opportunities for the industry in the future, but that’s not a good time to be spending your money.”
The Canadian Booksellers Association (CBSA), which represents about 70 per cent to 80 per cent (depending on who you ask) of all booksellers in Canada and covers all the major Canadian publishers, has also seen its revenues decrease.
In 2017, the group made $1-million from book sales, down to $1 million in 2018 and $1,000