Italian Publishers Association: one in ten publishing houses is already at risk of closure

According to data collected from April 19 to 23, theItalian Publishers Association (AIE) Observatory found that nearly one in every 10 publishing houses is already at risk of closure due to the Covid-19 health emergency. The Coronavirus therefore risks decimating small and medium-sized Italian publishing.

“This emergency will have major impacts not only on employment, as small and medium-sized publishing houses are a significant part of the book world,” commented Ricardo Franco Levi, president of AIE, “but also on pluralism in our country. Whatever the volume of sales, the loss of a voice always constitutes an impoverishment of the cultural offer, a wound to democracy. The government and parliament must do everything possible to ensure that this does not happen.”

Already this year, 9 percent of small and medium-sized publishers are considering closing down their operations, and another 21 percent consider it an equally likely event; only 23 percent feel they are ruling it out.

“What, on the other hand, is already a certain fact is the very strong reduction in the number of titles published,” explained Diego Guida, vice president of AIE and president of the Small Publishers Group. “Between March and April the cut was 35 percent, in May-June the postponements rise to 59 percent and continue, albeit at lower values, throughout the year: by the end of 2020 we thus estimate a 32 percent reduction in titles published by small and medium-sized publishers. It means 21,000 fewer works, 54 percent of all those that will be lost in 2020, demonstrating the centrality of our publishing houses in the Italian cultural landscape.”

Very heavy is the drop in sales: 72 percent of small and medium-sized publishers estimate a loss in March of more than 30 percent, 56 percent more than 50 percent, and 29 percent more than 70 percent. The slump in sales in bookstores, which are closed to the public, and in large organized distribution has been partially offset by sales of ebooks and in digital stores.

On the other hand, in terms of employment, 35% of publishers asked employees to dispose of unused vacation time, 34% put some employees on layoff, 31% all.

Italian Publishers Association: one in ten publishing houses is already at risk of closure

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