Coronavirus-hit Italy sees 25% drop in book sales

The Italian Publishers Association (AIE) said on Friday (8th March) that Italy's book market fell 25% in the previous week, with those areas worst-hit by the coronavirus ‚Äì such as Lombardy, Veneto and Emilia—seeing drops of 50% and above.

Italy’s cultural federation the Confindustria Cultura Italia (CCI) sent a letter to business and culture ministers on Friday (6th March) describing the effect of the virus outbreak on companies in the sector as “significant and worrying”.

The letter stated: “The drastic drop in sales of cultural products, books, music and DVDs, the cancellation of concerts, the cancellation of exhibitions and cultural visits to museums not reaching 20% of those usually recorded, the cancellation of festivals and fair events, the closure of cinemas, the suspension of national and international film productions and in general the freezing of activities or initiatives already planned are in fact generating very significant economic damage on the whole nation, distorting investment and industry development this year and probably in the years to come, and generating a liquidity crisis for companies in the sector.”

The CCI called for urgent intervention from the government, including the suspension of social security contributions and taxes for affected companies, and better credit facilities in the banking system.

Meanwhile the AIE presidential committee, representing all members of the Publishers Association, both trade and academic, held an extraordinary meeting about presenting their case to government. President Ricardo Franco Levi warned of a “crisis, serious and profound”, related not just to initial fall in book sales, but also the longer-term consequences which he said were unpredictable. As well as asking for tax reliefs, he asked the public authorities for clear guidance on whether publishers could partake in book fairs and literary festivals—“a fundamental tool for the trade and cultural promotion of the book”—while also respecting the need to protect the health of their company workers and wider society.

Last month the AIE asked the government to delay new restrictions on book discounting, citing the coronavirus crisis as one of the reasons.

The Bologna Children's Book Fair, initially due to open on 30th March, is still scheduled to go ahead, now from 4th-7th May.

The lockdown in northern Italy has now intensified, with 16 million Italians now subject to the travel restrictions, as coronavirus deaths rise.