Managerial InnovationEmerging technologiesMarketing

Innovating in the publishing industry: We can work it out

Fundación Germán Sánchez Ruipérez
video

One of the sessions in Readmgaine 25 was devoted to something as general as «innovation». This concept is part of the origin, goals and development throughout the years of Reamagine itself. This conversation was moderated by Porter Anderson -traditional star during several Readmagine editions- and had  Sarah Arbuthnot from Supadu and Anna Lemp from Hachette Livres as protagonists. The two of them provided insightful perspectives into their respective roles within the evolving landscape of publishing.

The conversation began with Anderson highlighting the cyclical nature of innovation, noting historical shifts like the digital transition and its subsequent normalization accelerated by the pandemic. Anderson emphasized the pivotal role of innovation in navigating these transformative periods, setting the stage for an exploration into current trends and challenges.

Anna Lemp, part of Hachette’s Innovation and Corporate Strategy team, shared her journey from creative writing and entrepreneurship studies to her current role. She underscored the multidimensional approach of her team, spanning international offices and collaborating extensively within Hachette. Their mandate includes identifying growth opportunities, fostering diversification, and embedding a culture of innovation across the company.

Lemp detailed their methodology, which involves extensive research on disruptive trends and technologies, conducting proof of concepts, and facilitating partnerships with startups. She highlighted initiatives like the global innovation challenge, where Hachette employees worldwide contribute ideas, fostering a culture of inclusivity and innovation from within.

Reflecting on challenges, Lemp discussed the balance between internal adoption and scalability, noting the importance of aligning projects with broader strategic goals to maximize impact across different markets and imprints.

Sarah Arbuthnot, Chief Commercial Officer at Supadu, shared her journey from advertising to the dynamic world of publishing technology. Supadu, known for its expertise in metadata automation and web solutions, supports publishers worldwide in enhancing book discoverability and optimizing e-commerce capabilities.

Arbuthnot emphasized the role of innovation in overcoming industry challenges such as consumer aversion to digital formats or reluctance to embrace new technologies. She highlighted Supadu’s innovative solutions like smart buy buttons aimed at enhancing consumer engagement and streamlining purchasing processes across various digital platforms.

The dialogue addressed the critical need for continuous innovation in publishing to adapt to changing consumer behaviours and technological advancements. Both guests acknowledged the industry’s historical resilience to innovation, underscored by the ongoing evolution from traditional print to digital and beyond.

Discussions also touched upon the internal dynamics within publishing houses, where innovation faces challenges such as risk aversion and the need for scalable solutions. The conversation illuminated the delicate balance between pioneering new ideas and navigating established norms within the industry.

As the session concluded, Anderson encapsulated the discussion’s essence, noting how innovation remains intrinsic to publishing’s mindset, shaping its future in an increasingly digital age.

In essence, the conversation between Sarah Arbuthnot and Anna Lemp provided a deep dive into the transformative potential of innovation within the publishing industry, highlighting both challenges and opportunities as the sector continues to evolve.

As audiobooks continue to see explosive growth, particularly in English-language markets, Anderson raised the topic of consumer resistance to digital formats. He pointed out that despite audiobooks’ increasing popularity, some readers remain skeptical, reluctant to embrace the format. This resistance mirrors the broader challenges in getting consumers to adapt to new technologies, as Sarah Arbuthnot noted, particularly when there’s a disconnect between the potential of a product and the resistance to change.

In response, Anna Lemp discussed how her team at Hachette had experimented with emerging technologies like augmented reality (AR), virtual reality (VR), and immersive storytelling. One particularly interesting project involved adapting children’s books into a Roblox game, a platform popular with young audiences. Although Lemp acknowledged the past failures with AR and VR, she pointed out that these technologies could still have potential if revisited at a later time, underscoring the cyclical nature of technological adoption in publishing.

Lemp also highlighted other innovations, such as interactive audio and AI-driven personalization, which have become key areas of focus at Hachette. AI, in particular, is being explored not for creative uses but for operational efficiency, such as automating workflow tasks to free up time for more creative endeavours.

For Sarah Arbuthnot, innovation at Supadu revolves around enhancing discoverability and streamlining e-commerce for publishers. Supadu helps publishers optimize their metadata automation, build websites, and improve online sales strategies. One of the most exciting innovations in this space, according to Arbuthnot, is the development of «smart buy buttons» which make it easier for consumers to purchase books with a single click, similar to the ease of shopping on social media platforms like Instagram.

Arbuthnot emphasized the potential of cross-border e-commerce, where technology enables publishers to sell books in multiple formats, languages, and regions globally. The goal is to provide a seamless purchasing experience that reaches readers across borders without any technical barriers.

As the conversation progressed, both Arbuthnot and Lemp reflected on the challenges that innovation brings. Lemp spoke about the competition for readers’ attention, particularly from other forms of entertainment like video games and social media. With the rise of screen time, getting people, especially younger audiences, to spend time with books is a growing challenge.

Furthermore, Lemp acknowledged the role of AI in both presenting opportunities and creating risks, particularly in the self-publishing world, where an influx of AI-generated content could overwhelm readers. This challenge, however, could also provide an opportunity for publishers to assert their role as curators, ensuring that high-quality, human-authored works stand out in a saturated marketplace.

Arbuthnot echoed these concerns, noting that publishers today face a dual challenge: not only do they have to focus on content and storytelling, but they are also tasked with developing marketing strategies that engage consumers. Many publishers, she noted, are still figuring out how to successfully market their books in the digital age, especially with tight budgets and unpredictable returns on investment.

Towards the end of the session, Anderson brought up the sensitive topic of political issues in publishing. In a time of heightened political polarization, publishers are often faced with the challenge of producing content that resonates across different societal divides. Lemp responded by explaining that Hachette’s approach is to decentralize decision-making, allowing each imprint the autonomy to decide which projects align with their editorial vision. However, she emphasized that the innovation team at Hachette acts as a support system, helping to create the conditions for innovation rather than driving it directly.

She also highlighted the role of corporate social responsibility and diversity, equity, and inclusion teams, who often address politically charged issues from a more localized and contextualized perspective. Lemp was careful to note that while the innovation team doesn’t directly handle political matters, they collaborate with other departments to create projects that are in line with Hachette’s core values.

Arbuthnot added an interesting layer to this conversation by raising concerns about the lack of attention being given to adult readers in the publishing industry’s push to attract younger generations. As streaming services and video content continue to dominate the entertainment landscape, publishers may need to rethink how they engage older, more established readers who are increasingly tuning out of traditional reading habits. This demographic, Arbuthnot pointed out, remains a critical part of the market and requires targeted efforts to rekindle their interest in books.

You can follow the whole conversation in this video.