Each bookstore in Poland currently owes an average of 82,500 PLN (19,250 EUR), while the average debt of book authors on the Polish publishing market exceeds 45,000 PLN (10,500 EUR), revealed Sławomir Grzelczak of BIG Info Monitor to Rynek-książki.pl.
He further highlighted that by the end of May 2024, the total debt in the Polish bookselling industry had grown to 14.4 million PLN (3,36 million EUR), reflecting an increase of 2.1 million PLN (490,000 EUR) over the last three years.
This situation is attributed to the challenging conditions in the Polish book market, which faces issues such as substantial discounts offered by large chains and financial difficulties experienced by smaller publishers and bookstores.
Furthermore, according to data from the analytics firm Dun & Bradstreet, as of 2023, book publishers owed 14.5 million PLN (3.335 million EUR), while authors had overdue debts amounting to 12.4 million PLN (2.852 million EUR).
Financial difficulties are particularly evident among micro and small bookselling businesses, which make up 95% of the market.
The cost of running these businesses has increased due to the large discounts offered by chains and discounters, making it difficult for local bookstores to compete.
The financial situation of book authors is also concerning, with debt increasing by several percent annually, currently reaching 12.4 million PLN (2.852 million EUR).
The average writer in Poland now owes their creditors 45.2 thousand PLN (10,396 EUR), an increase of 11.6 thousand PLN (2,668 EUR) compared to three years ago.
This is due to the growing debt in the book industry, including that of writers, resulting from the challenging financial situation of the market, which struggles with issues such as high discounts offered by large chains and the financial problems of smaller publishers and bookstores.
As a result, as production costs rise and revenues decline, the debts of book authors and publishers grow, leading to increasing obligations to creditors.
Source: Rynek-ksiazki.pl/dnb.com/BIK/BIG Info Monitor
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