Penguin Random House is responsible for about one quarter of all books that are being published and it was one of the first to be launched, almost headlong, by eBooks or electronic books. That gold rush that was this type of book format led many to launch without really thinking about the possible consequences.
And now, Joanna Prior, director of Penguin Random House, has stated that the signature jumped too fast, and directly, to the publication of digital books. Due to the stagnation of the digital book sector, there are several voices that are coming to the fore to try to interpret the wrong steps taken.
As Prior says, there was a specific moment in which they went directly and without much thought, just when they launched the app and began to invest without thinking about the possible Consequences that could be leaving printed books aside. Somehow they lost confidence in the power of a printed word on a sheet, which was a bad moment in decision making.
It is she herself who declares how Penguin has looked forced to regroup so that eBooks are now published harmoniously with physical copies.
It's no surprise that Penguin Random House has found its aggressive approach to eBooks it was a mistake. Not only have they invested poorly in a number of genre-based websites and apps, but they keep creating deals that don't make sense and ultimately turn into financial losses.
In the last two years eBook sales have declined for Penguin Random House. Things have gone so bad that they have had to ignore the publication of sales figures specific.