Publishers set the editorial and commercial direction for companies that publish books, newspapers, magazines and digital content. They make decisions about the markets their companies will serve and the type of content they will offer their audience. Publishers work with teams of editors, designers, writers and freelance contributors who create the content and manage its production.
Book publishers set the criteria for the types of books they will commission. In a small publishing house, publishers may concentrate on general fiction or non-fiction. In larger companies, they may focus on more specific categories, such as business textbooks or science fiction. Magazine publishers develop publications that will appeal to both readers and advertisers. A fashion magazine publisher, for example, may decide to focus on high-end fashion aimed at wealthy readers who represent an attractive target market for advertisers of luxury goods.
By focusing on the right markets, publishers aim to maximize revenue. Magazine publishers obtain revenue from retail sales, subscriptions and advertising. Selling magazines by subscription provides a regular flow of guaranteed income, while revenue from advertising and retail sales may vary with each edition. Book publishers aim to build sales through bookstores and online retailers, libraries, schools and colleges, and book clubs. They may also sell publishing rights to foreign companies who translate books and market them in their own territories.
Publishers may deal directly with contributors or oversee editors who liaise with writers, authors, photographers and illustrators. They develop editorial policies that provide editors and contributors with guidance on the style and tone of content they require. A publisher of a sports magazine, for example, may decide to offer readers in-depth analysis of the sport, while a competitor may decide to focus content on popular sports personalities.
To pay contributors for their work, publishers negotiate contracts that set out the financial arrangement. Magazine publishers pay contributors a fee, either when they accept the work or when they publish it. Book publishers offer authors terms that might include an advance on royalties before publication, royalties at different rates depending on volume of sales, and a share of any additional publishing rights. Publishers also negotiate discounts and commercial terms with retailers and other outlets.
Publishers have overall responsibility for content development and production. They may manage teams of editors and designers who review contributions, edit manuscripts and prepare layouts for printed or digital production. Publishers ensure that the team meets production schedules and releases work to the market on time.
Cost control is an important responsibility for publishers. They must balance revenue with production, distribution and staff costs so that publications or books are profitable. They set budgets for different departments and monitor financial performance to identify opportunities for improving profit by increasing revenue or reducing costs.
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