I start by asking how each would describe the health or otherwise of his national publishing industry.

Arnaud Nourry: The industry has been stable for the last 10 years with price increases offsetting decline in volume –traditional fiction and nonfiction sales in decline compensated by manga and mass-market paperbacks. Publishers in France need to find new ways to reach out to heavy readers, who tend to spend less time and money on books than in the United States or United Kingdom.

Richard Charkin: Does this steadiness conceal an actual decline in real terms, allowing for inflation?

Jordi Nadal: It’s robust for the giant groups, acceptable for 10 witty, healthy, smart mid- and independent publishers, lousy for the rest. Planeta, Penguin Random House, and Hachette have more than half of the market.  

Charkin: The Big Four in the UK also hold 50 percent of the market: PRH, Hachette, HarperCollins, Pan Macmillan.

Do international sales play a significant part for your national publishing industry?

“French sales outside our country account only for 10-to-15 percent, max, depending on the category—not a major opportunity until French-speaking African countries emerge as markets, which is still far down the road.“Arnaud Nourry

Nourry: French sales outside our country account only for 10-to-15 percent, max, depending on the category—not a major opportunity until French-speaking African countries emerge as markets, which is still far down the road.

Nadal: Not that much, unless you’re a major house or devote a giant effort to export and—remember—get paid. Latin America is often a nightmare. It´s a continent where paying an invoice is in some countries an opinion not an obligation. Total export sales for Spanish publishers are between 15 and 20 percent.

Charkin: What a contrast to the United Kingdom, where export sales represents more than 60 percent of total sales revenue and possibly 70 percent of volume sales. Is the current law on retail price maintenance in your country working well, adequately, sustainably?

Nourry: The 1981 law is still entirely modern and appropriate. It has resulted in our keeping more than 3,000 bookstores in our territory, and of about 8,000 outlets selling books. Major accounts like Fnac and Amazon hold jointly 30 to 35% percent of the market while independent bookstores retain more than 40 percent. This is a fundamental asset when it comes to preserving diversity of publishing and access to the market for small publishers. There is a clear consensus in the industry on not changing the law.

Charkin: There was a pretty clear consensus among traditional publishers in the UK before the collapse of the net book agreement, but I doubt there are many today who would wish to return to that controlled environment.

Nadal: Working and sustainable. What isn’t discussed is the Spanish law making author agreements valid for a maximum of 15 years. You invest in new talent and potentially lose it to the giant publishers and the greedy literary agents.

Charkin: This law might also explain why Spanish publishers almost certainly are valued less commercially than Anglo-Saxon ones. Acquiring a literary asset in the United States or United Kingdom typically bestows income for term of copyright. Is the growing impact of English-language editions a real threat to other-language publishers?

Nourry: I must recognize that the French level in English is poor enough to prevent this from being a real threat. Nevertheless it will grow as in other continental markets.

Nadal: Not as much as in other markets such as Germany, the Netherlands, and Scandinavia.

The AI Question

Charkin: Will artificial intelligence transform your publishing for the better or challenge it existentially?

Nourry: I can easily see how AI will make publishing businesses more efficient and less “gut-feeling” driven. Translations, marketing material, press and digital campaigns, audio will in time be impacted positively. [But] I see little true creativity in AI and therefore no reason to anticipate any existential change. AI will generate lots of manuscripts that will add to self-published titles. But our business is all about finding texts that we believe could have an impact with our input, then support authors in finalizing their work before bringing them to market. 

Charkin: But won’t all those AI-generated “hey-ho” titles clog up the machine and thus impact negatively on traditional publishing?

“ Many people involved with publishing would like to continue ploughing with horses or oxen, but the tractors—with air conditioning—are coming. Thank God.“Jordi Nadal

Nadal: Yes, sure thing. Slow, lazy, witless copy editors will suffer. Many people involved with publishing would like to continue ploughing with horses or oxen, but the tractors—with air conditioning—are coming. Thank God. 

Charkin: If you weren’t a publisher in your country, where would you choose to practice your skills—another country or another industry? 

Nourry: My experience of international publishing suggests that skills do not travel well. A top editor in France would be lost in New York, and vice-versa. The skills I’ve developed—managing creative people, balancing freedom to create and need for profit, optimizing processes in manufacturing, marketing, sales and distribution—could be of value in other content-driven industries (press, movies, music,..) but also in luxury, wine, and other areas.

Charkin: I think you’d be a brilliant rugby union coach.

Nadal: In another country? —The United States. In another industry? — to be a link between universities and companies. The collaboration between knowledge and industry seems essential to me. Talent to discover is one exciting job.

Charkin: In summary, publishing remains a great industry despite all the challenges and change. I hope my Spanish friends forgive me for ending with a quotation in French. I interpret it as meaning that the one thing that doesn’t change from country to country and from decade to decade is the commitment to finding and publishing the best authors whatever their discipline. Plus ils changent, plus ils restent les mêmes.