Harlequin Enterprises: the Mira Decisions Essay
As the world’s largest publisher of romance fiction, Harlequin has a strong global foothold in series publishing with a presence in more than 100 international markets and 23 …show more content…
Conversely, Mira represents an extremely high risk undertaking for Harlequin with significantly higher costs for production, distribution and marketing. A single-title novel is a unique product, which requires a publisher to generate higher per-unit sales volumes; create individual design, marketing and promotion campaigns; and provide higher returns to authors and third parties.
Production changes, at least in terms of product dimensions, could have significant unforeseen impacts on the economies of scale currently enjoyed within the production and distribution supply chains. If Mira is to compete with existing single-title publishers, long-term author contracts, royalties and advances could put extreme financial pressure on Harlequin and represent a significant level of investment, which may or may not be realizable in the long-term.
Therefore, the failure of a single-title novel to achieve break-even sales targets has far-reaching consequences; and can seriously damage reputations upon which future sales would depend.
Nevertheless, the most significant threat to the success of Mira is its potential in the US market. The truce with Simon & Schuster achieved at the end of the Romance Wars may not be sustainable, if Harlequin launches