As ByteDance establishes a publishing company, many in the book industry question whether it will create an uneven playing field by favoring its own authors over those of others.
This year, a new publishing company began pursuing self-published romance authors. The email-delivered sales proposal was impersonal and formulaic. The terms were not extravagant, occasionally equating to a few thousand dollars for the book’s rights.
The conclusion then arrived. ByteDance, the parent company of TikTok, a social media company that specializes in brief videos and has helped create some of the greatest bestsellers on the market in recent years, was the publisher. In addition to an advance and royalties, the company offered comprehensive online marketing services, according to multiple authors and publishing industry professionals familiar with ByteDance’s offerings.
“This could be the next big thing,” said self-published romance author Mariah Dietz of ByteDance’s publishing arm”.
The company has already drastically altered how online publications are discovered. Despite the fact that ByteDance has said little publicly about its publishing plans, which are in their infancy, it is evident that the company has the potential to sell a vast number of books.
ByteDance is able to reach a vast and expanding audience despite increased regulatory scrutiny prompted by concerns that it may be influenced by the Chinese government. More than 150 million TikTok users in the United States alone are interested in books. According to the company, videos with the #BookTok hashtag have been viewed more than 91 billion times in the past year, up from nearly 60 billion views the year prior.
Many authors, including Colleen Hoover, have been propelled to the best-seller list by exposure on the platform. ColleenHoover-tagged posts have been viewed over 4,2 billion times, and her publications have sold over 24 million copies.
Circan BookScan, which monitors print sales, forecasts that in 2022, more than one hundred authors with substantial BookTok followings will propel sales to $760 million, a 60 percent increase over 2021. This year’s orders are roughly 40 percent higher than last year’s at this point.
Bess Braswell, a senior publication director at Harlequin, remarked, “At this point, it would be an understatement to say that it is incredibly vital.”
Late in April, ByteDance registered a trademark for a publisher, 8th Note Press, characterizing it as a provider of a variety of book publishing products and services. According to the description, it would establish an ecosystem where individuals could discover, purchase, read, review, and discuss books.
As an acquisitions editor, the company also recruited Katherine Pelz, a romance industry veteran.
ByteDance declined to affirm specifics regarding their publishing and retail operations, including the genres they intend to publish, the release date of their first titles, and whether their books will be sold in traditional bookstores.
Despite the fact that little is known about their intentions, ByteDance’s presence has already sparked concern.
By leveraging TikTok’s ability to attract attention to books and its enormous trove of user data, ByteDance could promote its own authors at the expense of others and make BookTok less organic and user-driven, which concerns many TikTok authors and users.
The company could also disadvantage traditional publishers and self-published authors. Users tend to reject anything that feels corporate or inauthentic, making it difficult for publishers to create viral book videos.
Their concern is that ByteDance may tip the balance in favor of its own initiatives, leaving less space for other books and posts that would go viral on their own. In response to a query about its promotional strategies, the company stated that 8th Note Press and TikTok are separate entities.
ByteDance’s innovations have not yet rivaled those of traditional houses. At larger publishing houses, advances can range from roughly $50,000 to millions of dollars, compared to a few thousand or tens of thousands at smaller publishers. ByteDance stated that it could not disclose financial arrangements with authors, but added that it believes its pricing to be competitive with industry norms.
Currently, ByteDance appears to prioritize fantasy, romance, and intrigue, which are popular on the platform.
In April, best-selling romance author Tricia O’Malley, who has self-published approximately 40 novels, received an offer from ByteDance to sell the rights to two of her books. O’Malley stated that the agreement included a social media marketing campaign, royalties, and an advance of $3,500 per book, which was less than the monthly earnings of the titles.
The company was interested in fantasy and romance, old and new novels, and stories that were “wholesome, fun, and sexy, but nothing too steamy and dark,” she said.
She declined the offer, but acknowledged that she was tempted: “The reality is that BookTok is selling books.”
Others may find it difficult to resist the company’s vow to provide comprehensive online marketing for its authors.
Ella Fox, a self-published romance author and advertising consultant who manages ad campaigns for other authors on TikTok, speculated that ByteDance could prioritize their own books in the algorithm. “People would give their eye teeth to get in front of that audience and be pushed in such a way,” she said.
Some in the industry are skeptical that ByteDance will be able to carve out a significant portion of the market, in part because the publishing industry remains resolutely analog and relationship-driven. According to the Association of American Publishers, print sales still account for more than 70 percent of commercial publishers’ revenues; any new significant publishing company would require printing and distribution capabilities, as well as relationships with booksellers.
“I’m less concerned about TikTok becoming a publisher tomorrow,” said Dominique Raccah, publisher and CEO of the publishing company Sourcebooks, “because constructing a functional publishing infrastructure is difficult.”
Uncertain are the company’s print distribution plans and whether or not they intend to sell their books in physical storefronts. ByteDance informed an author, in an email reviewed by The New York Times, that it intends to concentrate on digital books with limited print on demand quantities until TikTok launches its online retail store.
TikTok has already altered the acquisition of literature. Traditionally, booksellers informed readers of new authors. Now, publishers learn about viral authors from booksellers who approach them with consumer requests.
Bloom Books, a romance and women’s fiction imprint of Sourcebooks, signed several previously self-published authors, including Scarlett St. Clair, Piper C.J., and L.J. Shen, after learning that consumers at Walmart and Barnes & Noble were interested in their books.
“We started hearing from accounts, ‘This author is trending on TikTok, but we can’t stock the books,'” said Molly Waxman, executive director of marketing for adult fiction imprints at Sourcebooks.
Ruby Dixon, the author of the “Ice Planet Barbarians” series, began by self-publishing and was one of the first TikTok phenomena. Krista and Becca Ritchie, authors of the “Addicted” series, also began by self-publishing. Avon signed the self-published author with more than 280 million TikTok views, Mariana Zapata.
Some editors and publishers also question if ByteDance will be able to detect trending self-published authors and sign them before they become apparent targets for competing publishers.
There are industry veterans who find solace in the fact that ByteDance will likely face the same challenges as traditional publishers: readers are capricious, and viral videos won’t automatically create a bestseller if the books themselves are unappealing.
“They may attract more eyes, but will that translate into sales?” Cindy Hwang, vice president and editorial director at Berkley, was questioned. “It’s not enough to get hits; you must also convince readers to purchase the book.”
