The Book of the Month Club is part of a larger company called Bookspan that runs book clubs in the United States and Canada. The formerly called flagship club of Book-of-the-Month Club, Inc. merged with Doubleday Direct, Inc. in 2000. The complete ownership of Bookspan was acquired by Bertelsmann in 2007. Bertelsmann initiated a major overhaul of the book club business six weeks after taking over of absolute ownership that resulted in elimination of about 15% of its large workforce of 1900 people. This was a major change in the book club scenario. Bookspan was sold to the private equity firm Najafi Companies in 2008, and to Pride Tree Holdings, Inc. inn 2012.
Founding of Book of the Month Club
The Book of the Month Club was founded in 1926 by Harry Scherman, a copywriter for the J. Walter Thompson advertising agency, but its management changed from time to time. The Club is presently managed by John Lippmann as its CEO and assisted by COO and CTO for its operations. It is a United States subscription-based e-commerce book club that offers a limited number of new books each month to members. The tradition of selecting and endorsing of books by panel of judges is on the same pattern followed in 1926, but now members can also discuss the books with fellow members in an online forum.
Contributions of John Lippmann to the Club
The association of John Lippmann with the Book of the Month Club is not too long, but his efforts in sustenance of the club are appreciable. He, along with its COO Blake Orlandi, did a great job for this company. The Club relaunched its powerful brand in late 2015 that grew its membership to over 100,000 within two years. The club also announced its first annual Book of the Year Award In late 2016, the finalists for which are chosen by the club’s members. These are great contributions of John Lippman for the Club.