Should Canadian publishers be allowed to sell off equity in search of capital? Instinctively, those of us who remember the invention of CanLit will say “No Way.” John Barber’s piece in The Globe and Mail makes a strong argument to the contrary.
The total book market in Canada is a $2.8-million a year business, some 234 million books are sold per year, or 12.3 books per Canadian consumer. A roaring trade, but in order to survive and prosper in a global market, mid-sized Canadian firms need an opportunity to grow. Canadian capital just isn’t interested in publishing, but investors elsewhere are. Smaller publishers — the farm teams, who discover and nurture new talent — deserve greater government subsidies. A refreshing look at a possible future for Canadian publishing. Read the whole story.
A substantial piece of analysis, complete with key figures, Barber’s piece makes the argument that to survive in a global market firms need to get bigger. Often times, only foreign investment is available. More than one mid-sized publisher has disappeared in recent year, after stiff foreign ownership rules prevented them from partnering with a non-Canadian firm.
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