An interesting look at Australian publishing.
The editors suggest that with media corporations buying book companies with an eye on spinoff products they still don't quite get it, and no matter what they do, they can't get the considerably over double digit profits that they want to make out of it, despite cost cutting.
Apparently a new cool scientific idea in bookselling not too many years ago was to count the actual books sold.
Sounds like they have to be a bit more sophisticated than that to work out models to improve their bottom line, so that seems to be part of the problem.
Other criticisms include paying huge advances to celebrities, which means leaving other authors languishing, or not publishing them at all, or, bizarrely, not choosing new authors.
No surprise that some book chains are starting to struggle as people realise there is not as much choice there as there used to be, and find it more easily online.
It is also rather focused on 'literature' and what they see as possible increasing decline for this sort of book given the lack of instant marketability compared to celebrity cooking or a crime series.