All About Simon & Schuster's New Board
what this new chapter will mean for authors
Simon & Schuster has announced a new seven-member board of directors, months after their acquisition by private equity firm KKR.
The members of the new board include:
Simon & Schuster CEO Jonathan Karp
KKR Executive Richard Sarnoff, who leads KKR’s American division, now including S&S
KKR Executives Ted Oberwager and Chresten Knaff, who lead KKR’s publishing, media, and tech investments
Former CEO of Penguin Random House Madeline McIntosh
Former COO of TikTok V Pappas
Former Head of Disney’s Media and Entertainment Distribution Kareem Daniel
Read more about KKR’s acquisition of Simon & Schuster:
Well done, (KKR and) Simon & Schuster. This is not a stodgy old board with late-adapter etiquette. This board of directors will reimagine book publishing and modernize the industry. I knew this day would eventually come!
I’ve said it before and I’ll continue to say it again: the future of publishing is rooted in author-reader connectivity.
Naming these entertainment-based, tech-savvy executives to the board is a probable step into a multimedia future for the traditional House. And if this shakes out to be true, it is likely S&S will become the first stop for many agents, because they’ll be the only ones able to holistically benefit authors.
What this means for authors
Firstly, if you’re a current Simon & Schuster author, I wouldn’t worry. If you have questions or concerns about your contract, I would reach out to your agent and/or editor for the most up-to-date information as it pertains to you.
Secondly, when social media started to play a bigger role in acquisitions, no one really understood how to properly measure its direct line to success. Vanity metrics became our collective marker for authors to even be considered for most book deals.
Vanity metrics: follower count, like count, amount of posts (as a show of activity).
Given its new board members and their respective experience, I could see Simon & Schuster tightening their acquisition sensibilities (the why behind their interest in a book) and their understanding of what metrics actually lead to consumerism (author-reader connectivity):
follower count will not matter as much as engagement
views will matter more than like count
ability to lead a community—specifically an audience of potential readers— will be important
intellectual property (IP) possibilities, including streaming deals, audio capabilities and brand partnerships will matter
(Specifically Pappas and Daniels’ relationships provide S&S authors the ability to form brand partnerships. It always comes back to relationships/network for me!)
As an author, here’s what you can do to prepare yourself and your future manuscripts to be part of Simon & Schuster’s future:
Start working on your personal brand. As an author, you are a business. Become clear on who the business of you serves (your readers), find out what they like and where they are, and connect, connect, connect.
Bottom line: there will be changes. While we’ll find out what they include soon, I feel inclined to say I’m excited for this next chapter of S&S.
Agree, disagree? I’d love to hear your thoughts.