John Lippman is a known name in the publishing and entertainment industry and had worked with major companies in the book and publishing sector like HBS and Evergreen Copyrights. Now he has taken upon himself a new role of re-launching and giving new life to a fading brand. He has recent bought rights to the Book of the Month club with the idea of revamping the classic book club by making it digital and offering great books from the popular fiction writers.
With most businesses now operating in the digital space Lippman’s idea of turning Book of the Month club in to a digital format makes sense as the revenue model of an online book club. The business model can be more fruitful than an offline club. Book subscribers can pay for monthly subscriptions and additional money for any extra services.
Moving customers to Bookspan
To achieve the task of shifting customers from offline to online, John Lippman used a wise strategy. He moved the existing customers of Book of the Month club to other book clubs that were under Bookspan while revamping the club. Once the club was totally online he re-launched the club in late 2015 and moved the subscribers there. The subscription plan for the Book of the Month club is at only $14.99. The business has started making revenues up to $2 million.
John Lippman is a self-confessed book lover and thus is giving his heart to this new venture. His idea to make Book of the Month club relevant to today’s generation comes at an interesting time as millennial are rediscovering reading in a new way. The book membership space needs renovation and with digital platform like Amazon coming handy there is a lot that can be done creatively to rekindle this generation s interest in reading.