The Australian book publishing industry is facing increasing consolidation as the 'big five' publishers - Penguin Random House, Hachette, Allen & Unwin, Harper Collins, and Pan Macmillan - now own over 70% of the market. The recent acquisition of Text Publishing by Penguin Random House has fueled concerns about the future of independent publishers and the potential impact on the diversity of Australian literary voices.
The ‘big five’ – Penguin Random House, Hachette, Allen & Unwin, Harper Collins and Pan Macmillan – now own more than 70% of the Australian book publishing industry.The ‘big five’ – Penguin Random House, Hachette, Allen & Unwin, Harper Collins and Pan Macmillan – now own more than 70% of the Australian book publishing industry.
Creators of Australian literary fiction – the intellectual high end of pleasure reading – have witnessed the merging of three independents into larger companies in almost as many months. The “big five” – Penguin Random House, Hachette, Allen & Unwin, Harper Collins and Pan Macmillan – now own more than 70% of the Australian book publishing industry.
“The landscape is changing rapidly … effectively, what this announcement means for us is one less publisher we can submit to,” said Fiona Inglis, managing director of Sydney’s Curtis Brown literary agency. Announcing the acquisition last Wednesday, Heyward said Text had secured a charter of independence with Penguin Random House.
“It will remain the same, nothing will change, we will continue to publish their cutting-edge titles,” said Tranter. “And five years later – zip. No more McPhee Gribble.” “Publishing is like a rainforest. Trees fall down, and when they do, they open up sunlight. New trees grow in the space the old tree occupied … it’s a very natural process.”
“ belongs under a nonprofit model with some appropriate government support. A little bit of grant funding here and there is just not going to cut it, the government needs to intervene in the cultural economy in a meaningful way.”
BOOK PUBLISHING AUSTRALIAN LITERATURE INDEPENDENT PUBLISHERS MARKET CONCENTRATION LITERARY DIVERSITY
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