Most international publishers at the world's biggest book fair on Thursday had just one word to describe business "" buoyant.
But the glaring exception was the US where, as Random House chairman Alberto Vitale put it, Business is flat as a board.
Frankfurt has attracted more than 9,200 publishers from 110 countries to its 1996 book fair. About 80 per cent of all global rights are concluded here. It is the perfect sounding board for the industry.
From London to Sydney, executives were in upbeat mood, relieved that the soaring paper prices of the past two years had finally come down. Paper prices have stabilised. The chaos of last year is a thing of the past, said Susan Blackwell, executive director of the Australian Publishers Association.
Trade is healthy and solid. We are optimistic for a good Christmas, our main season, she said. In Asia, both international and indigenous publishers painted a rosy picture of the outlook.
The market is healthy. Business is very good. We try to keep prices low and work tight profit margins, said Paisarn Piammattawat, managing director of Thailand's River Books.
The British and American publishers who once dominated the international market are finding local competition stiffer. There are far more active indigenous publishers. The world used to be carved up by the US and the UK. That is no longer the case, said John Stachiewicz, managing director of the international division of London-based HarperCollins.
The vibes are positive. It is buoyant. With the exception of South Africa where we don't know what is going to happen, the oulook is fairly rosy, he said.
But we are having to acquire and produce and get into books much quicker.
Seth Russo, international sales director at New York-based Simon and Schuster, echoed that export optimism. Paper prices have moderated. Our international markets have held up well. Asia is showing the fastest growth rate. South America is on the rebound. There are more prospects than problems, he said.
But Random House Chairman Alberto Vitale described a much grimmer picture on the US domestic scene. The market is flat as a board. Returns are very high. There is inefficiency in the retail trade. We need to see a more balanced trade. The margins are tighter, he said.
For the last three years, sales have been flat. We are going to see a couple of tight years ahead. Hopefully next year will be be better, he added. Britain has faced a turbulent year after dropping its price-fixing arrangement for books.
The Net Book Agreement fell apart when three of the country's largest publishers pulled out. The move provoked a flurry of cut-price books in British stores and supermarkets.
Joanna Mackle, publishing director at Faber and Faber, said: We are in turbulent waters but fairly buoyant.
