Book Sales Prediction: Basically Flat
Posted on June 2, 2008Book sales are expected to stay basically flat according to a new report. Some categories of books are predicted to show slight increases in sales.
The Book Industry Study Group, a nonprofit organization supported by the publishing industry, projects a 3 percent to 4 percent growth through 2011, when revenues should top $43 billion. The BISG expects little change in the actual number of books sold and sees a drop in the general trade market by more than 60 million, from 2.282 billion copies in 2007 to 2.220 billion in 2011.If a Democrat is elected president and there is a Democratic congress, it's likely that No Child Left Behind will be fully or partially repealed. Some Republicans are also unhappy with the bill, which is seen by states as an unfunded mandate from Washington which ditches traditional teaching in favor of an obsession with standardized testing. Textbook publishers will certainly be keeping an eye on any such legislation.
"The hits will keep doing well, but other books will have troubles," says BISG senior researcher Albert N. Greco, a professor of marketing at the Fordham University Graduate School of Business. The findings were announced at BookExpo America, being held this weekend at the Los Angeles Convention Center. Barring another Potter-like phenomenon, Greco believes the children's market will barely break even. Modest gains are projected in most adult categories, although that could change once Brown comes out with his long-awaited follow-up to "The Da Vinci Code." No release date has been set for the novel, which also features protagonist Robert Langdon, a Harvard University professor who interprets symbols.
The biggest losers likely will be mass market paperbacks, which continue to plunge as baby boomers seek formats with larger print, while religious books should keep growing, by more than 5 percent annually. The hottest market, according to the industry study group, isn't books, but standardized tests, boosted by the requirements of the No Child Left Behind legislation. Growth of 8 percent or better is expected through at least 2009.