Over the last few days we at HarperCollins have been listening to the discussion about changes to our e-book policy. HarperCollins is committed to libraries and recognizes that they are a crucial part of our local communities. We count on librarians reading our books and spreading the word about our authors' good works. Our goal is to continue to sell e-books to libraries, while balancing the challenges and opportunities that the growth of e-books presents to all who are actively engaged in buying, selling, lending, promoting, writing and publishing books.
We are striving to find the best model for all parties. Guiding our decisions is our goal to make sure that all of our sales channels, in both print and digital formats, remain viable, not just today but in the future. Ensuring broad distribution through booksellers and libraries provides the greatest choice for readers and the greatest opportunity for authors’ books to be discovered.
Our prior e-book policy for libraries dates back almost 10 years to a time when the number of e-readers was too small to measure. It is projected that the installed base of e-reading devices domestically will reach nearly 40 million this year. We have serious concerns that our previous e-book policy, selling e-books to libraries in perpetuity, if left unchanged, would undermine the emerging e-book eco-system, hurt the growing e-book channel, place additional pressure on physical bookstores, and in the end lead to a decrease in book sales and royalties paid to authors. We are looking to balance the mission and needs of libraries and their patrons with those of authors and booksellers, so that the library channel can thrive alongside the growing e-book retail channel.
We spent many months examining the issues before making this change. We talked to agents and distributors, had discussions with librarians, and participated in the Library Journal e-book Summit and other conferences. Twenty-six circulations can provide a year of availability for titles with the highest demand, and much longer for other titles and core backlist. If a library decides to repurchase an e-book later in the book’s life, the price will be significantly lower as it will be pegged to a paperback price point. Our hope is to make the cost per circulation for e-books less than that of the corresponding physical book. In fact, the digital list price is generally 20% lower than the print version, and sold to distributors at a discount.
We invite libraries and library distributors to partner with us as we move forward with these new policies. We look forward to ongoing discussions about changes in this space and will continue to look to collaborate on mutually beneficial opportunities.
To continue the discussion please email library.ebook@HarperCollins.com
President of Sales