random house

How the Publishing World Acclimated to the Digital Revolution (Part 1)

Gerry LaFemina

Like the record industry before it, the publishing industry is changing dramatically.  Of the Big Seven publishers (Random House, HarperCollins, MacMillan, Penguin, Simon & Schuster, Hachette Book Group (Little, Brown & Co, et al), and Scholastic), six of them–all but Scholastic– have proven to be too big to change their business strategy in a rapidly changing marketplace. The culprit was a combination of the predatory sales practices of online retailers (particularly Amazon.com) and changes in the media (MP3s in the case of the music industry; ebooks in the case of the book industry).

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