Action & Perspectives on the publishing business after COVID-19 in your country

– We participated the Online Book Fair to celebrate VietNam Book Day, April 21st. This online book fair was organized by the Department of Publishing, Printing and Distribution, under the Information & Communication Ministry.
Every year, many reading culture activities across the nation are held to celebrate Vietnam Book Day, the highlight of which is the book fair at Thong Nhat Park with numerable Vietnamese publishers. However, this year, the book fair was organized online on April 19th . Mr. Nguyen Ngoc Bao, Deputy Director of the Department of Publishing, Printing, and Distribution, said that this was an opportunity for the publishing industry, opening a new direction for the development of book market in the 4th industrial revolution trend. He also believes that the online book fair will connect Vietnamese readers with books on cyberspace and this is a great chance for digital transformation of publishing industry. This is the first time Vietnam government organized a large-scale online book fair, so inadequacies is unavoidable. However, it was supported and accompanied widely, this was a turning point for Vietnam publishing industry and keep promoting reading culture.
– We participated Online Programs with e-commerce websites. We have to change the sales method, push books to online channels on websites nhasachthaiha.vn, Tiki.vn, Fahasa.com, Shopee.vn … We also have to cooperate with partners to make promotional programs on online channels. In addition, we are paying more attention to online communication: introducing the book launch, communicating with the authors through livestream channels facebook, youtube

The Ncovid-19 pandemic took place, causing all major events of the world to be canceled, business activities frozen, leading to a series of shutdowns, increasing unemployed and people want to save and spend money for buying necessities, so the number of titles released on the market also dropped sharply. We, ThaiHaBooks, had to make urgent decisions in March such as:
– Stop buying new rights
– Reduce the number of titles published per month (from 15 titles to 5 titles), reduce the number of copies printed per title (from 2.000 copies to 1500 copies)
– Reduce the number of working days per week (4 working days), in which many departments work online at home
– Cut cost for vacation, rewards, fun activites
– Debt extension
– Enhancing service for online business, organizing online business events
– Focus on online communication: Introduce books, online events with authors and translators via livestream on facebook or youtube.

Impact on the publishing business from COVID-19 in your country

As of August 25, Vietnam’s Ministry of Health confirmed a total of 1,022 cases of COVID-19. However, 588 of the affected patients have recovered and been discharged from hospitals. Vietnam has also recorded 27 deaths due to the pandemic,
Since the beginning of 2020 the worldwide economy has been affected by the Ncovid-19 epidemic, the publishing market is not out of that influence either. The International bookfairs, internal bookfairs, and meetings were canceled, transactions were also postponed. However, the copyrights partners have worked very flexibly, the work is still done via email, video call … All new book information, catalogs, online events are promptly updated via the devices. Regarding sales situation, from early March to June, orders from traditional bookstores descreased by 60% and online orders increased by 15%, but now, online orders show signs of decline as the number of unemployed is increasing and the readers want to save and spend money for buying necessities such as rice, food… In terms of overall size, the revenue of publishing companies has decreased from 50% – 80% as of April.

Thai Ha Books also accompanied with the government in the fight against Ncovid-19
– During Covid-19, we had an idea of opening a free Rice ATM, we cooperate with sponsors to gave free rice to the poor people who skipped meals because of the influence of Covid-19, the programme took place from April 11 – April 30 in 15 provinces and cities nationwide with hundreds of tons of rice.
– Launching Book ATM on April 23, 2020 in Ha Noi right on Book and World Copyright Day. The total number of books donated more than 6,000 copies
The growth target in 2020 is definitely not achieved, the revenue of some publishers only reach 70% -100% compared to the same period in 2019.
Like many other industries, publishers’ revenue has declined this year, although we have made great efforts to “overcome difficulties” with many solutions such as promoting direct book sales, online media, and cooperation with e-commerce channels.
The solution being applied by domestic publishers in this period is the same as that mentioned by ThaiHaBooks, we keep maintaining publication to create diversity in topics and meet the needs of readers but limit the number of titles and the number of copies printed.

According to Nguyen Nguyen, Director of the Department of Publishing, Printing and Distribution, the number of publications registered decreased by 26% compared to the same period last year. The Covid-19 epidemic had a serious impact on the publishing industry. Meanwhile, the synchronous policies to support the publishing industry are facing difficulties because there are many other industries that also need support.

I also think that publishers can see this pandemic as an opportunity to restructure business operations, how to reform the whole apparatus of publishers; at the same time improving the quality of the activities. At this time, we should focus on selecting practical content, associated with the demand for economic revival, encouraging people to join hands to fight epidemics. We also need to prepare to live with a pandemic that can last from now to the end of 2020, even into 2021.

I believe that the 19 Covid pandemic is a major turning point for human society, including our publishing industry. This event gives us the opportunity to rise above ourselves and adapt to the situation, give us the opportunity to change the way we do business, change the way we work and change the way we approach readers, and especially gives us the opportunity to re-examine our way of life in order to live in harmony with nature.