Book Market and New Norms Pos- Pandemic Times
Pos Pandemic Times and The Best Time to Publish
Book market and Literature like the other fields of economics and culture have suffered the upheavals resulting from covid-19 Pandemic.
The set of sectors involved in this area of expression – from writers to publishers, bookstores, and literary events – is adapting by developing new strategies and elaborating on how the future will be.
In this article, we are trying to discuss the book sector’s perspectives and the new set of norms for the Publishing Market.
The Impacts suffered by Book Market
Bookstores were the first to experience the effects of social isolation. The pandemic has further aggravated the crisis faced by large chains. Meanwhile, small bookstores and publishers began to use creativity to continue selling through social networks. The main social platforms used are Instagram, Facebook, and Twitter besides selling on their own e-commerce sites.
The Publishing sector showed a 40% drop in sales in the first month of the pandemic, killing mainly those who were not prepared to sell over the internet. However, through their own e-commerce or through help from other platforms, these companies have managed to capture back around 70% of their previous income.
Has Literary Production Grown in Pandemic?
The good news is that the consumption and production of literary texts continue in full swing on the Book Market. Closed at home, people are reading and writing more.
The most rewarding aspect of this (if we can find any silver lining to this tragic pandemic) is that all manifestations of art are being revalued and identified as essential elements to our society’s emotional and mental stability.
Literary events on the internet have multiplied, with virtual launches, debates, and literary discussions for the most varied tastes. The Live feed capabilities of many platforms have expanded and facilitated this growth.
It is worth noting that this assortment of virtual actions has gained greater weight today. It is great to be able to hear a poetry soiree, interviews with authors, virtual courses. Undoubtedly, the pandemic revealed that culture and the arts have a fundamental role in reimagining the world in times like this crisis.
What is the Audience that is reading the Most?
Some research and studies were released recently in some literary markets revealing that the number of children between 5 and 10 grew exponentially.
The participation of the family is of fundamental importance at this stage. It happens when a parent reads to their child or reads in front of children; they also gift their children with a book. It makes all the difference in the world.
The other exciting issue addressed by the studies was that teachers also assume the leading role of reading influencers, often surpassing the children’s own families.
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The End of Book’s Megastores
The model of book megastores has its days numbered. This phenomenon is already happening in major world capitals, such as London and New York, and most literary markets in Europe.
The cost of maintaining gigantic spaces in shopping malls, with large numbers of employees and huge inventory, has an astronomical operating cost compared to digital stores. As has been the case with the reduction of hypermarkets and greater consumer adherence to neighborhood businesses. The small bookstores will have a difference in customers’ experience, close to home, and receive a warmer and directed service coldness presented in those big stores.
The Rise of Audiobooks
Audiobooks are more sold than eBooks in the United States – the most extensive book market in the world. The expansion is even more significant with the arrival of the most prominent audible book players by Audible, Amazon, and the Apple Store.
Also, we experienced an increase in podcasts listeners; podcasts have gained them more prestige. The audio format reaches an audience that often does not want to read but listen to content.
In the Market’s medium-term, we believe that Web series, Regular Podcasts, and even More Internet Radio will start to take off even more. Many new players coming to this Market bring many new technological innovations.
Virtual Programming and Online events
Another thing that changed with the pandemic was the traditional book signing sessions, book fairs, and literary events. Not even mentioning Niche Expos and other events.
These activities have been entirely replaced by online chats and “live appearance” by authors. The same trend followed by artists from other areas, such as musicians.
The public and readers miss contact with their favorite authors, so engagement has been high, and this ‘Live Feed’ and Social Web Tv trend should remain and grow even more.