Publishers’ revenue increased by $143.2 million (+6.2%) for the first quarter of 2018 (Jan - March) compared to the same period in 2017. These numbers include sales for all tracked categories (Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses). The increases are attributed primarily to strong growth in trade (consumer) books in January and February. Trade books increased by $94.7 million (+6.3%) to $1.59 billion in the first quarter of 2018 compared to the same period in 2017, with growth in Adult Books, Children & Young Adult Books and Religious Presses. Publishers also saw increased revenue for Professional Books, University Presses and Higher Ed Course Materials. Click Read More below for additional information.
Following is the statement of Maria A. Pallante, AAP President and CEO, with respect to the administration’s announcement of the list of products imported from China to be subject to an additional 10% tariff:
“Today the administration announced the list of products to be subject to the additional 10% tariffs. We are pleased that the administration did not include Bibles and other religious books on the first list of products to be subject to the tariffs, and delayed tariffs on children’s books until December 15th.
However, we remain deeply concerned that a wide range of other books remain on the list, including American fiction and nonfiction books; art books; textbooks; dictionaries and encyclopedias; and technical, scientific and professional books. A tariff on books is a tax on information, and at odds with longstanding US policy of not imposing tariffs on educational, scientific and cultural materials. Just as importantly these books are part of a vital economic engine that makes significant contributions to the U.S. economy, and supports American publishers, authors, illustrators, editors, and designers, as well as distributors and book sellers.”