This year is not only the 100th anniversary of the founding of the Book of the Month Club—it also marks a decade since chairman John Lippman relaunched the iconic service and rebranded it Book of the Month. When Lippman, whose background is in finance and music, acquired BOTM in late 2012 from parent company Bookspan, it was being buffeted by both the rise of online bookselling and the explosion of e-books. Lippman’s goal was clear: to create a new business that would appeal to readers who were increasingly buying books online. Even after the acquisition, Lippman wasn’t sure his plan would work. But now he’s happy to report to PW that BOTM has grown every year since the relaunch, and it currently has more than 400,000 members and around 60 employees. Read more
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