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The economics of literary festival

Update : 22 Nov 2014, 08:51 PM

“I don’t understand why people don’t hesitate paying for meals at restaurants, but complain about having to pay for books of the same monetary value,” said Alexandra Pringle, one of the panellists at The Lessons from Slushpile session on the first day of Hay Festival.

Selling books means convincing people to pay for them, which has always been a marketing challenge that surpasses the norms of traditional channels of distribution. In the book market, supply does not always create its own demand.

Aamer Hussein, author of Electric Shadows, says: “As an author you cannot thrive with the motive of making a fortune. I write books for the love of writing. If I measure costs and benefits in strictly monetary terms, I’ll have to say, it does not always payoff,” he said.

“But authors who love their work are not in this profession for money solely.”

This is where literary festivals such as the Hay find its place – by acting as a channel that links publishers to authors to readers.

During the last three days at the Bangla Academy premises, a new – renewed, rather – kind of energy evolved. People of different generations, interests, and nationality gathered to celebrate their love for books.

“I was surprised to see such a great number of young readers at the festival. Some had bought as many as six books at the fair. I hope they read all the books they bought,” said Aamer, whose book has been published by Bengal Lights Books at this year’s Hay.

Publishers’ paradise

The festival also served as a great platform for the publishers, who sold hundred of books at the festival. By the afternoon on the last day of Hay, Bookworm had sold approximately TK600,000 worth, according to the shop’s managerial executive Badal.

“In the last 15 years, the number of publishers has remarkably increased in Bangladesh. This is a great initiative to encourage authorship and readership in the country,” said Aamer.

Bengal Lights Books sold more than TK100,000 in books per day at the festival, according to a rough approximation. By midday yesterday, Maria Chaudhury’s memoir, Beloved Strangers was close to being sold out.

Face to face

Having authors present appears to have a direct link to the high sales made at the festival.

“My presence increased the number of my book sales. I have signed about 50 books so far,” said Aamer.

All the authors I spoke to at the festival shared the same sentiment  - their presence gives a face to their books and helps sales. Literary festivals are also a great opportunity for authors to meet their audience.

Naveed Mahbub, author of Humorously Yours and founder of Naveed’s Comedy Club, says: “My presence at the stall is a personal branding of my work. I get 8% as royalty from each sale of the book. That is roughly Tk16 per book. It is not a big amount, but spreading the word about my work will increase my gains by many folds – all of which are not tangible.”

“I am more likely to buy book when I know the authors. The sessions at Hay gave a chance to hear the authors. I bought 15 books at the festival, most of which are autographed by the authors,” said Dr Arifa Rahman, professor of English Language in University of Dhaka.

Book sales truly rocketed at the three day festival, as authors, publishers and readers mingled on the same ground. But it remains to be seen how many books can really sell themselves after the curtains of the Hay fall and authors go back to their writing tables and publishers back to their offices. 

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