Publishers Seek for Support to Bolster the UK's £11 Billion Book Industry

Publishers urge policymakers to support the UK's £11 billion book industry with export aid and lower charges. Explore the latest developments on Frontlist.

on Mar 11, 2024

Publishers Seek for Support to Bolster the UK's £11 Billion Book Industry | Frontlist

Publishers Association pushes for aid with exports and lower charges ahead of the London Book Fair.

UK book publishers have urged policymakers to boost the £11 billion industry's expansion through tax cuts and export-friendly policies.

Ahead of this week's London Book Fair, one of the largest international publishing events for
rights negotiations and sales, the Publishers Association conducted research to demonstrate the economic worth of publishing, which employs 83,000 people in the UK.

However, the Publishers Association stated that with industry-friendly legislation, the government could add billions of dollars and tens of thousands of new employment.

The organisation represents the interests of several UK corporations, including HarperCollins, Bloomsbury, Pearson, Pan Macmillan, and Penguin Random House.

The UK publishing industry is seeing robust growth, with companies like Bloomsbury reporting record first-half results. Fantasy novels like Sarah J Maas and Samantha Shannon, as well as "cosy crime" by authors ranging from Agatha Christie to Richard Osman, have driven sales.
However, many in the industry are concerned about emerging risks, such as the rise of artificial intelligence capable of impersonating famous authors or duplicating copyrighted works.

Publishers Association CEO Dan Conway said the UK should not take the industry's success for granted.

"With an election approaching later this year, we urge politicians on all sides to appreciate the publishing industry's economic worth to the UK. We must work together to increase UK publishing's economic and social impact."

The group urged the government and opposition MPs to guarantee that Al benefits the economy as a whole and does not harm intellectual property or creativity. Ministers were urged to "vigorously uphold the UK's globally advantageous intellectual property and copyright framework".

Other proposed policies included publishing export help for UK-based enterprises to market and sell their books around the world. According to the report, publishing exports already contributed £6.5 billion to the UK economy.

It also urged the government to eliminate audiobook, article, and book processing costs, dubbed the "final tax on reading," and to invest in libraries and literacy.

According to research conducted by public policy consultant Public First for the Publishers Association, such support could help the industry add £5.6 billion to the UK economy by 2033, while also supporting an additional 43,000 employment. According to the report, international demand for UK publishing is expected to increase by further 20% over the next decade.

A representative for the Department for Culture, Media, and Sport stated that the government will adopt a "balanced and pragmatic approach" to AI, adding: "Our multi-billion-pound publishing sector is the number one global exporter of books and a key part of our creative industries which we aim to grow by £50 billion by 2030."