Ten things we learned at the IPG’s 2022 Autumn Conference

Here are some of our many takeaways from our Conference in London and online on 28 September. We’d love to hear yours! Richard Fisher's next column will include a summary of the Autumn Conference academic and professional sessions.

1. There are opportunities amid the challenges
The Conference keynote came from BBC broadcaster, economist and author Dharshini David, on a day of turmoil in the financial markets and a sharp drop in the value of sterling. With the cost of living crisis growing and inflation running high, she said there are many challenges ahead: “We’re in uncharted waters.” But she also provided some reasons to be cheerful, including an easing of paper and shipping costs, consumers’ continued desire for “little luxuries” like books and export opportunities because of the weak pound. “If you can, try and sell abroad… there are definitely some healthier spots out there.”

2. Publishing culture matters
Dharshini David was followed by Atlantic Books’ Will Atkinson, who said current challenges were a reminder of the need for publishers to be distinctive and compelling in their lists and focused and meaningful in their cultures. “You need must-have books rather than nice-to-haves… and your company has to mean something to the people who work there... The structure of a business is easy, but it’s the culture that makes things happen.” While taking advantage of their agility, independents can also learn from corporates, he added—especially their processes and purpose. “Statis is dangerous—you have to stretch yourself and be ambitious.”

3. Sustainability costs, but it’s the right thing to do
Another leader’s perspective came from Sanphy Thomas of Jessica Kingsley Publishers, an independent publisher for 30 years and now part of Hachette. She said publishing had made good progress on the two big challenges of diversity and sustainability, but much more remains to be done—together where possible. Challenges include the need for a greater understanding of the full spectrum of diversity, and an acceptance that reducing environmental impacts requires investment. “There’s more openness and collaboration on the challenges we’re facing now,” she said. “Sustainability costs, but it’s the right thing to do.”

4. Streaming is the future in audio
The audiobook market has boomed for several years now but there is still plenty of room for growth, said Bookwire’s Videl Bar-Kar and Zebralution’s Becca Souster. Some of the biggest opportunities are in streaming via platforms like Spotify, which has just launched a dedicated audiobook platform in North America. Souster said streaming is particularly useful for reaching new readers and boosting backlist titles, and Bar-Kar emphasised the value of podcasts as well. “Podcasts are the gateway to audiobooks—there are great opportunities to convert listeners [to book buyers].”

5. TikTok should be fun and authentic
A popular session on TikTok showed its powerful role in marketing now. Sophie Robinson of Marconi Affiliates said #BookTok has now had nearly 80 billion views, and young people use it as a search engine as well as a video platform. Publishers need to understand its algorithms and dive in, she said. “You should be on it… don’t worry if you feel overwhelmed—you’ll get used to it.” And content doesn’t have to be polished. “The key to TikTok is authenticity—just be you.” Lauren Goldgrub said publishers who want to court BookTokers like her need to understand their motivations and preferences: “You have to answer the question ‘what’s in it for me?” They should enjoy the process too. “Try to think of it as more than work. Have fun, experiment and enjoy the community aspect.”

6. Many book prices are too low
The IPG’s chair Phil Turner of Meze Publishing gave the Autumn Conference a snapshot of the latest Independent Publishing Report, including the stats that ebooks are now worth 25% of print sales, and exports and rights account for 48% of all trading. The average selling price of IPG members’ books is £5.57, which most people in publishing agree is too low—although increasing them risks alienating some consumers, especially those who are less well-off. “We would like to raise prices but it’s difficult,” said Veruschka Selbach of Pluto Press. 

7. Smarter printing reduces returns
In an important session on sustainability, Boldwood Books’ Amanda Ridout gave an update on the progress of the Book Journeys Project and Sustainability Industry Forum. The Project is now exploring ways to reduce the environmental impacts of the end-of-life treatment of books, and Daniel Witte of Carnstone said research showed the transportation of books accounted for the vast majority of emissions at this stage. A follow-up session on the supply chain heard that better sales forecasting would help to cut returns, and print on demand has a big part to play by reducing over-printing. “The vast majority of books in the world will fit into an on-demand model,” said Ingram Content Group’s David Taylor. “Ultimately none of us want returns—for commercial as well as sustainability reasons,” added Gardners’ Nigel Wyman, and the Booksellers Association’s Meryl Halls said it was important to trust booksellers to make decisions on buying and returns. 

8. Exports and rights can grow sales
Several Conference speakers followed the theme of finding opportunities for growth despite the current pressures. Ingram’s David Taylor highlighted the solid recovery from the turmoil of Covid in many markets around the world and the value of local printing in reaching growing markets, while Sarah Faulder of Publishers’ Licensing Services showed how PLS services in collective licensing, permissions and rights management can all help businesses to grow the bottom line. 

9. Leadership needs diversity and good governance
In a session dedicated to leadership, Fox Williams’ Mary Elliott said good governance is the “glue” that binds businesses together and builds trust and reputation. She advised publishers to think about bringing in non-executive directors and giving employees a greater say in business decisions. Following that, Razia Aziz of the Equality Academy stressed the need for greater diversity across all aspects of leadership. “We have to think outside the boxes that give us comfort… Leaders need to understand that it’s important to interact with people who are completely different to them.”

10. Independents are the life and soul of publishing
In a rousing end to the Autumn Conference, author and rhetoric expert Guy Doza gave a welcome reminder of the power of words and the unique strengths of IPG members. “Independent businesses are the life and soul of an industry… they have a sense of fun and character that the corporates don’t. We can learn from large corporates, but we need to hold on to what makes us special.”

The IPG’s 2022 Autumn Conference was supported by gold sponsors Ingram Content Group and Publishers’ Licensing Services; silver sponsors the Frankfurt Book Fair and ProQuest, part of Clarivate; bronze sponsors Bookwire, CPI, Virtusales and Zebralution; and exhibitors Clays, Edelweiss+, Gardners, Inspired Selection, The London Book Fair, Marconi Affiliates, Nielsen BookData and Westchester Publishing Services. We are very grateful to all our sponsors, exhibitors, speakers and delegates. 

There are extensive reports on the Autumn Conference from The Bookseller and BookBrunch.

For more views from the Conference and its range of break-out sessions, take a look at the #ipgac hashtag on Twitter. For photos, click here.