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Thursday, July 16th, 1998 Media Cynic | Forum | Advertising | Classifieds | Jobs Report: Foreign Ownership of U.S. Book Publishing Reaches 50% An aggressive shopping spree by European corporations will increase outside ownership of the $21.3 billion U.S. book publishing business from its present 33% to 50% by the end of this year, according to a new report, the 1998 Perspective On Book Publishing: Numbers, Issues & Trends. The study is published by Open Book Publishing, publisher of Subtext, a newsletter covering the book business. German, British and Dutch players are vying for a foothold in all segments--consumer, education and professional. The acquisition of the two largest U.S. publishers--Simon & Schuster by British conglomerate Pearson, and Random House by Germany-based Bertelsmann--will spur overseas investors to pick off mid-sized companies, said Stephanie Oda, co-author of the report. "In a sense, the U.S. is the last frontier," she said. "The European book market is mature, and anti-competitive regulations are stringent." The trend is not necessarily a negative one, but rather attests to the health of U.S. publishing, said Oda. "Despite some setbacks in trade, the American book market is the world's largest and most lucrative. Investors are not going to tinker with what works." Other key findings: -- The quickening pace of consolidation will concentrate 93% of U.S. publishing revenues among the 20 largest publishers by 1999, while the top 10 will account for $16 billion, or 75% of sales. -- Sales of consumer books dropped for the first time in a decade in 1997, down 2.8% to $9.7 billion from $9.9 billion in 1996. On a positive note, returns decreased about 5%. -- In bookselling, revenues of the 10 largest North American chains totaled $6.8 billion, or 58% of the $11.7 billion trade retail book market. Independent booksellers continue to lose share, dropping from 32% in 1991 to 18.5% in 1997. -- Driven by growing enrollment and improved funding, sales of educational textbooks, now $5.8 billion, will increase 19% to $6.8 billion by 2001. -- Because language barriers are irrelevant, professional publishing--especially in the medical/science area, is becoming increasingly global. The three largest players--all foreign based--account for more than 90% of the $4.2 billion U.S. professional book market. The 400-page report, which Oda refers to as "the bible of the book industry," includes 150 tables and provides analysis of the forces driving the business as the century turns. "Once relatively staid, book publishing has become dynamic and is changing profoundly," Oda said. "Our goal was to publish a definitive reference source essential to anyone connected with the business of publishing or selling books." King Publishing Group Acquires Three Defense-related Papers Washington publisher Llewellyn King announced the acquisition of three defense-related papers from Pasha Publications, Inc., effective June 29, 1998. The acquired papers, BMD Monitor, Military Space, and Navy News and Undersea Technology, will complement the award-winning Defense Week, which King founded in 1980. BMD Monitor, now in its 15th year, is a bi-weekly paper that focuses on ballistic missile defense programs and technologies. Military Space, also a bi-weekly, was founded in 1983 to report on military communications and space technology. Navy News and Undersea Technology, now in its 15th year, is a weekly paper that covers business opportunities in U.S. Navy programs. King Publishing Group, founded by Mr. King in 1973, and its sister company, King Communications Group, Inc., publish six other business newsletters and organize 30 business conferences per year. The other King papers are: The Energy Daily, Defense Week, New Technology Week, High Performance Computing and Communications Week, The Brownfields Report and White House Weekly. Kellogg Launches Daily Online News Site The Kellogg Company has launched a new Web site, the Smart Start Morning Starter, an interactive news and information resource supporting its new cereal, Kellogg's Smart Start, which is now available nationwide. In line with the cereal's advertising message, "Carpe Diem. Sieze the Day.," the site offers visitors everything they need for a great start to their day, including up-to-the minute news feeds from the Associated Press, weather forecasts from Accuweather and stock quotes from Reuters Money Net. Users can also receive cultural and lifestyle information such as movie releases and book and video reviews. "With the creation of the Smart Start Morning Starter website, we've capitalized on innovative Internet technologies and design to support our brand's mission of seizing the day," said Karen Kafer, director of communications, Kellogg USA. "Our consumers will have an unique and energetic online experience that speaks to the spirit and excitement of the brand and exemplifies the 'Carpe Diem. Seize the Day.' message." "Kellogg's Smart Start cereal is all about readiness for the day ahead -- starting smart. The Smart Start Morning Starter builds a relationship online between the brand and the consumer that helps consumers prepare for their busy days," said Basel Dalloul, Magnet Interactive Chairman and CEO. Duke Press Changes Name to 29th Street Press Duke Communications International is changing the name of its book publishing arm, Duke Press to 29th Street Press effective August 1. Books released after that date will carry the new 29th Street Press logo. The new URL address is http://www.29thstreetpress.com. "There is no change in our location, management, products or policies," said David R. Bernard, publisher and editorial director. "The name change is simply to avoid confusion with Duke University Press." Duke Press, located at 221 E. 29th Street, Loveland, CO 80538, was established in 1991 and now has more than 60 titles in print. Most of them are technical books for computer professionals who work with the popular Windows NT platform and the IBM AS/400 computer series. The company also has offerings in the business finance field. Significant recent growth in the demand for technical information in the Windows NT area has contributed to expansion of the company's book publishing operation, according to Bernard. GoodNoise and ElectricVillage Announce Strategic Alliance GoodNoise Corporation and ElectricVillage announced a partnership under which GoodNoise will feature ElectricVillage's music programming on its website. As part of the agreement, ads promoting GoodNoise will be featured on the websites of alternative/modern rock radio stations in ElectricVillage's network, which currently numbers over 350 sites. Under the agreement, GoodNoise will feature format-specific programming from ElectricVillage, including interviews with prominent musicians, CD reviews, celebrity chats, and other content. The companies made the announcement at the Jupiter Communications Plug.in 98 Conference, the New Music Meets New Technology Forum, which is being held this week in New York. "GoodNoise understands the significant changes the Internet is bringing to the music business," said Carl Koppel, president and COO of ElectricVillage. "While ElectricVillage is leading the convergence of radio and the Internet, GoodNoise is driving the convergence of the Internet and music. As a result, it makes sense that we combine our expertise to help fuel this evolution." 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