Lippman relaunched Book of the Month in 2015, dropping the “club” from the company’s moniker and focusing primarily on new fiction. Subscribers pay $15.99 a month and can choose among five to seven hardcover books, with extra books available at $10.99 each. A year later, BOTM had become profitable again, and by the end of 2017, revenues notched $10 million. Today, the company’s revenues are more than $50 million annually, according to industry sources.
More than 80 percent of BOTM subscribers are Gen-Z and Millennial women, according to Lippman. “We didn’t specifically reinvent it for younger women, but that’s who came to us,” he says. “Women read most [of] the fiction in America, and if you’re promoting up-and-coming authors, you tend to attract younger audiences.”
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