Brexit will usher in a dark chapter for new British authors, warns publisher

The next generation of British authors could struggle to land a book deal after Brexit, according to the publisher who launched Harry Potter writer JK Rowling’s career.

The UK’s close ties with Europe meant British publishers enjoyed a huge financial benefit from exploiting the exclusive English-language rights to books sold across the continent.

However, US publishing companies such as Simon & Schuster believe Brexit will open the door to competition and break the cosy historical deals enjoyed by British publishers.

Under such a scenario, British publishers will be forced to focus on keeping their star writers happy, potentially offering them more lucrative deals to keep European rights. As a result, financially pressured British publishers are likely to become more risk-averse in signing and promoting new and aspiring authors.

“Quite often now, a British publisher of a work will have exclusive rights in Europe – because Britain is part of Europe,” said Nigel Newton, the chief executive of Bloomsbury, the publisher of the Harry Potter books.

“When Britain isn’t part of Europe, it is possible that it will become more of a shared market with American publishers, an ‘open market’ as it is called. There is a potential issue where more American editions of books could come into the continent than under current arrangements.”

Europe is the biggest export region globally for UK-published books, accounting for more than a third of the almost £1.2bn annual sales of English-language print titles.

A senior publishing industry figure said that if a “really brutal battle” between UK and US publishers was to emerge over European book deals there would be major financial implications for British publishers.
more at:  https://www.theguardian.com/business/2017/dec/18/brexit-will-usher-in-a-dark-chapter-for-new-british-authors-warns-publisher