Publishing becoming a 'big authors business', David Shelley tells FBF

Publishing has shifted from being a big book business to a “big authors business”, with readers buying new and old titles to support their favourite writers and publishers increasingly pushing backlists, according to Hachette UK (HUK) and Hachette Book Group (HBG) c.e.o. David Shelley.

Speaking to Publishing Perspectives editor-in-chief Porter Anderson at the 2024 Frankfurt Book Fair, Shelley said that “it’s increasingly about authors, so not just one book”, and that “readers increasingly want to read everything that that author has written”.

The c.e.o. pointed to the example of American author Elin Hilderbrand, whose novel The Perfect Couple was adapted into a series starring Nicole Kidman, released by Netflix in September.

The series has not only boosted sales of Hilderbrand’s novel, but also of her backlist titles. He also noted that “it’s officially the year of David Nicholls” in the UK.

Shelley said: “As publishers, I think it’s [about] working harder not just to sell one thing, but to tell readers about all the books in that author’s backlist they might not have read.”  

While he recognised that publishing has “always been a hits business”, the c.e.o. also emphasised the role that every book plays in a publisher’s success, and noted the importance of “serving all of the authors well”. He described himself as “instinctively a low-risk person”, while his strategy for HUK and HBG is “to have a business that isn’t super reliant on hits”.

He added: “I hate the idea of losing more than anything. So the idea always is to kind of structure a business where you’re not reliant on hits, but the hits are the icing on the cake.”

In line with Shelley’s measured approach to bestsellers is his outlook on “organic growth and growth by acquisition”, and Hachette’s model includes “a complete mixture” of both. A company has to “tick two boxes” before the publisher acquires it: providing a “substantial” learning opportunity for HUK and HBG, as well as the opportunity for the publisher to add value to that business. “If it doesn’t emphatically tick those two boxes, then I suppose I’ve learned by bitter experience, it’s not a great acquisition,” he said.

The digital-first publisher Bookouture is an example of an acquisition that Shelley is “really pleased and proud about”. HUK bought Bookouture from founder Oliver Rhodes, and Shelley said the team has “learned a huge amount” about digital marketing and digital publishing from the business, while also providing it with new print capabilities. 

He also pointed to Summersdale, Welbeck Publishing Group and Laurence King Publishing as examples of successful acquisitions.