Egmont to Invade USA

News just in:

EGMONT IS TO launch in the US in autumn 2009 with ambitions to become one of the top US children's publishers within five years. It is to set up an office in Manhattan in January, run by Douglas Pocock, currently Group Sales Director, who will become Executive Vice President of Egmont US.

Rob McMenemy, Senior Vice President and MD of Egmont UK, told PN: "This is something we have been planning for two years. It's a huge opportunity - it's the biggest English language publishing market and we're the only top ten children's publisher that isn't in it. The US children's market grew by 8% in 2007 and the same figure is predicted for 2008. I won't say it's easy over there - it has many of the problems that we do - but the growth is ahead of the UK and we're hoping to steal a share of what is an enormous market of some $5.5bn. You don't have to steal a huge share of that to make an impact."

The move represents a multi-million pound investment for the company whose UK book turnover is around £30m. Pocock will head up a team of seven and is currently recruiting. No details are being given on the number of titles yet, but McMenemy added: "We're not going to be a boutique publisher - we're looking at a list that reflects our ambition. The big lesson we've learnt from others who have opened in the US is that it's important to have a list that is generated in the US." Publishing News

O woe for the huddled masses of unpublished writers in the United Kingdom (like me). It's important to have a list that is generated in the US. Darn.