The Bookseller.com

2nd December 2008

« Headlines

Makinson looks to harness globalisation

19.09.08

Penguin c.e.o. John Makinson believes that globalisation is changing the rules of book publishing and represents a larger opportunity than digital books.

With the economic crisis in America and Britain as a reminder that in developed economies the books business is a mature one, Makinson said in an interview in the Times that Penguin wants to harness the potential of emerging markets. He believes Penguin can generate 10% of its sales from emerging markets, which amounts to £100m a year. The operation in India grew by 25% last year, boosting turnover by £15m and should, Makinson says, generate 5% of revenues in five years.

Globalisation also represents a far larger opportunity, in Makinson's view, than digital books. He thinks digital books will make up only 1% of sales by 2010, even if he expects fivefold growth this year. Penguin is exploring other digital opportunities but they are not expected to be big contributors.

Times

Penguin pearson John Makinson Home Global