In the big face-off between book publisher Hachette and Everything Seller Amazon, both entities are often derisively described as “two giant corporations fighting for their own interests.”
Which is true, except that all of us in the publishing world who live downstream from their runoff have an interest in the outcome, too. It might be useful to know as many facts as possible about how much poop they can put in our water supply.
Two giants? Well . . . yes, but one is a whole lot more giant-er than the other. If this were a boxing match, they wouldn’t be allowed in the same building together, much less the same ring.
According to stats listed by Publishers Marketplace:
“Hachette is part of a $10 billion global conglomerate” — based on sales, though they have a market capitalization of about $4 billion.”
Amazon? $74 billion in annual sales, “and a market capitalization of roughly $150 billion.”
Publisher’s Marketplace opines that Amazon’s growth in the next year (estimated at $15 billion in sales) will be more than (Hachette owner) Lagardere’s *total* sales.
Hachette Book Group USA has approximately $640 million in annual sales.
Estimated annual North American media sales for Amazon? $10.8 billion.
That’s a big ol’ canyon of difference in the size of the war chests, friends.
Does money equal power? Does might make right? Does it matter that sides are being chosen in this massive kerfluffle using battle cries about “bullying” aimed at *both* players? I dunno.
I just find the numbers interesting. Thanks to Publisher’s Marketplace for this information.