During the recent ‘Book Country’ festival, industry representatives engaged in discussions regarding the factors affecting book pricing.
One significant element highlighted was the cost of rights. Julia Orlova, the CEO of Vivat Publishing, cited a recent instance where her publishing house was unable to secure a license due to competitors offering $40,000 for the rights.
Additionally, the cost of translation was noted as a major contributor to rising prices. Orlova explained that translation expenses can exceed the rights fees by twofold or more, with current prices for rights typically starting around $6,500.
Victor Kruglov, CEO of RNK-Ranok Publishing Corporation, linked the increase in prices to war-related risks, which have resulted in damage to products, printing facilities, and logistics centers. He also pointed to the energy situation, noting that bookstores operating on generators have faced higher printing costs.
The Ukrainian book market must also be viewed in a global context. Artem Bidenko, head of the Ukrainian Publishers Association, remarked that publishing houses adjust prices in response to actual price increases at printing facilities, which can occur unexpectedly due to rising raw material costs driven by oil price hikes.
Discussions at the 'Book Country' festival revealed multiple factors influencing book prices in Ukraine, including rights costs, translation expenses, and the impact of war and energy issues. The insights provided a comprehensive view of the challenges faced by the publishing industry amid global economic pressures.