A recently published Open Book research report shows that since 2018, the literary market has lacked new bestseller drivers, causing year-on-year growth to keep declining and turning negative in 2019. Hit by COVID-19, the decline widened further in 2020. Over the past five years, the literary market's YoY growth has trended down. To counter falling sales of pure literary books and a sharp drop in serious-literature readers, literary books need to break out of their "echo chamber," build a healthy publishing ecosystem, and reach across circles to a wider audience.

As the literary publishing environment changes dramatically, the old model — where publishers focused only on topic planning and manuscript polishing — no longer meets market demand. To build forward-looking literary publishing, we must stand on the whole industry chain, step out of our comfort zone, and actively take part in creation, publishing, distribution, reading, discussion, adaptation, and the building of new formats — broadening our thinking, keeping an eye on the big picture, and steadily improving the overall strength of publishing houses. We can start from the following aspects:

I. Diversifying publishing content

Literary publishing needs diversified content — science fiction, historical fiction, short stories, essays, and more — to attract a wider readership. It can also strengthen cooperation with universities, research institutions, and arts groups to expand publishing areas and better meet reader demand.

II. Expanding distribution channels

Traditional literary publishing can no longer meet market demand; new channels are needed to spread literary works. This can be done through digital publishing, e-platforms, social media, and online platforms. Literary events hosted with local governments, educational institutions, and cultural parks are another way forward.

III. Strengthening marketing

Literary publishing must strengthen marketing through ads, special campaigns, and partnerships with bookstores and libraries. Building reader communities ensures works reach their target audience. Meanwhile, works can be brought to market in line with regional character and cultural identity.

IV. Attracting outstanding works

Outstanding literary works are the key to attracting readers, so publishing needs to draw more quality works and take a deep part in planning and creation. Calls for submissions in journals, writer training, and similar methods can draw authors of niche books into the ecosystem and expand the content pool.

V. Building brand identity

Quality is the foundation of brand-building. Literary publishing must build a brand identity and deliver high-quality books and great service. Publishing houses should also partner with peer institutions and interact actively to build brand synergy.

In short, stepping out of the echo chamber and reaching a wider audience calls for a brand-new approach to literary publishing and a new era for the industry. Diversifying content, expanding channels, strengthening marketing, attracting outstanding works, and building a brand are key paths to success.