A-list American publishers lose money amid Brexit uncertainty
UNITED KINGDOM — American publishers are struggling to survive as a result of Brexit uncertainty, with many losing hundreds of thousands of dollars as their business is cut off, a group of international publishers said.
As a result, a number of American publishers have decided to leave their UK imprints as well as some smaller ones, said Simon Johnson, the head of international publishing at the publisher imprint Bantam Books.
“It is very hard to predict when the next wave of upheaval will hit, but I do think it will be a bit sooner than we think,” Johnson said.
“The market is already looking quite vulnerable to disruption, and I do believe that in the coming weeks the British publishing industry is going to suffer the consequences of this.”
In the U.S., Bantam publishes more than 150 titles, including the New York Times bestseller list, the Pulitzer Prize-winning HarperCollins bestseller series The Handmaid’s Tale and the Oscar-nominated The Martian.
In England, Bantam is owned by Simon & Bantam Macmillan, which is one of the largest publishers in the U, and includes titles such as The Martian, The Girl with the Dragon Tattoo, The Hobbit, Harry Potter and many more.
“If it weren’t for the UK, I think we would be down to five to six titles,” Johnson added.
“I do believe the situation will get worse before it gets better, and that is a very bad sign for our industry.”
Some of the biggest British publishers are also in a bind as Brexit threatens their business, which includes a number that are owned by other companies.
The U.K. Office of National Statistics said last week that the country’s economy shrank by 0.6 percent in the three months to March.
The economic slowdown has caused British publishers to slash their publishing budgets.
But Johnson said that the publishers will continue to sell in the UK even though the government has cut back the amount they can pay for their products in the country.
“I don’t think it’s going to affect our business in any way, shape or form,” he said.
The British government’s decision to exit the European Union means that British publishers will have to rely on their own markets to sell their books.
However, Johnson said British publishers have been able to survive because they have their own market, in which they sell a variety of products, including magazines, books and e-books.
“They’ve got a very diverse, global audience, which means they’ve got their own unique challenges,” he added.
“One of the things we’ve been able, in my opinion, to do is to stay ahead of the curve and we have to be prepared to take the opportunity when it comes.”
The U.N. Office for the Coordination of Humanitarian Affairs (OCHA) said in a statement that “a major reason” for Brexit uncertainty was the U.
“Brexit has created a vacuum that the international community is now trying to fill.
It is very difficult to predict what the next phase of disruption will look like.
As the world waits for more information, I encourage everyone to remain calm, engage and act in a way that supports and supports the UK.”
Johnson, however, cautioned that the uncertainty is still a very real one.
“There’s no question that there is a significant amount of uncertainty about Brexit, and people are concerned,” he told CNNMoney.
“We are all going to be in this kind of a bind.”