Investor Day Presentation

INVESTOR DAY H hachette - LIVRE PRESENTATION PUBLISHER'S ROLE REMAINS CENTRAL IN THE CREATION, PRODUCTION AND SALE OF BOOKS Lagardère PUBLISHING Consumers Advice and recommendations for cultural products needed A publisher is a sifter: culling of contents, focusing on superior works among a high number of projects submitted Authors Traditional publishers remain more attractive Bestselling authors need exclusive services (advances, editorial expertise, marketing and sales clout...) not offered by new publishing structures Rare self-published authors proving to be successful subsequently looked for a traditional publisher in order to increase their sales Publisher's mission is to finance, work with the author, format, promote, market, distribute the work With a forecasted digital penetration of the market of <40%, publishing will still be driven by print book sales: the complexity of the business will remain and won't be acquired by new players 31

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