Published on Jan 19, 2017
Someone asked me my views on the above, the other day. This is the gist of what I said in reply:
1. Waterstones fears that the economic consequences will include “a significant retail downturn” with “falling book sales harming publishers and booksellers”;
2. The falling pound has affected the cost of printing books (a lot of publishers print their books outside the UK) which will lead to higher prices for books (which will dent sales);
3. A post-Brexit UK will lose its exclusive rights to the rest of Europe as a market and will have to compete with US publishers and this will lead to lower book sales by UK publishers and booksellers
4. Post-Brexit, Copyright protection for UK authors and publishers will no longer be as secure throughout Europe:
5. A post-Brexit loss of EU grants for translations and (especially science) research will hurt publishers specialising in foreign language books and academic works.
1. The fall in the pound means that British printers are more competitive and may win more printing contracts;
2. The purchase of UK books and online publishing product could be more attractive to overseas buyers with the fall in the pound;
3. Not having to follow EU VAT rules may mean that VAT on ebooks can be removed making digital publishing products cheaper for UK and overseas customers and bringing e-books into line with printed books.
4. Legal publishers will have a field day publishing books on the all the laws that will change!
Published on Jan 19, 2017 by Neil Thomas