Publishers in the UAE have highlighted the need for industry solidarity and appealed to the Emirates Publishers Association (EPA) to establish a local book distribution company to weather the current crisis in the cultural industry arising from the economic fallout of the coronavirus pandemic.

Speaking at a virtual meeting held by EPA, participating publishers emphasized that the cancellation of local, regional and international book fairs and cultural events has seen the book market plummet, leading to record losses of 50 - 85 percent in gross sales since March this year.

The virtual meeting, attended by senior EPA officials including HE Ali Bin Hatem, President, and Rashid Al Kous, Executive Director, also saw the participation of more than 50 EPA members. The meeting focused on the impact of economic disruptions on the local publishing industry and outlined strategies and solutions to ensure that all those in the publishing value chain are supported. Other topics addressed at the virtual meeting included the strategic role of EPA in easing economic challenges by facilitating economic and trade license renewals, lease contracts, publication invoices, and licenses of the National Media Council, amongst other essential services.

In his opening address, Rashid Al Kous pointed out that EPA was committed to preserving and strengthening the financial health and competitiveness of its membership to ensure the sustainability of their businesses amid the ongoing crisis. The widespread cancellation of prominent cultural events and international book fairs, delays in book releases and suspension of distribution channels exacerbated these challenges, having an immediate impact on publishers in the region, he added.

Speaking at the virtual meeting, HE Ali Bin Hatem, President of EPA, underscored the efforts of EPA’s executive office in providing both guidance and support to ensure the sustainability of its members’ businesses. In the wake of the unprecedented challenges caused by the pandemic, many publishers were unable to fulfil vital projects or promote their offerings which prompted EPA to rope in appropriate mechanisms and take series of measures to support its members across the value chain, he said.

Discussing a range of challenges, several publishers emphasized that with readers gravitating towards eBooks, the future of print books was at risk. Shifting consumer habits led to a twofold increase in sales for eBooks when compared to print books and this accounted for 75 percent of gross sales in the book market.

EPA officials recommended that publishers need to re-strategize and look at the evolving digital future of the publishing industry as an opportunity reach out to new target audiences and markets.  EPA also urged publishers to work on producing audio books to expand their digital footprint while continuing to rebuild the traditional print market and strive for the sustainability of publishing houses.

Source- Press Release