The Age of Discontent': Greek Publishing Through Six Years of Austerity

Abstract

The effects of the 2010-2015 economic recession on the Greek publishing market have been dramatic, by all means, affecting its structure, operation, quantity and quality features. What is interesting to investigate, thereof, is the response of the publishing environment to the economic downturn in the form of resilience, adaptation, innovation and change within the industry. While the 'crisis' has had more severe consequences for the firms at the top, connected often (but not always) to media groups, the experienced, specialized small to medium publishers and booksellers proved to be more resilient, sustaining a vibrant and diversified production within a fewer number of books published. New book titles were reduced by 35% between 2008 and 2012, with signs of further containment following to that. At the same time, a number of small, independent booksellers have sprung up, out of the need to support the distinct quality features of literary production, based on the 'personal quality' service model. An approximate 8% of the Greeks can be ranked among the 'medium to systematic' readers (i.e. reading over 10 books a year); they are the ones to support the volume and diversity of book title production, including some of the bestsellers, while the outbreak of the crisis concurred with a positive development towards the weaker strand of the readership. The international interest in the economic circumstances met in Greece has helped, to some extent, the export of rights of literary works either dealing with the individuals affected, or analyzing the reasons of the default. At the same time, digital innovation may prove to be a sign of a changing book publishing industry, striving to become international.