Publishers flock to Frankfurt

Even as readers devour the code-cracking thriller “The Da Vinci Code” and best-selling Iraq War titles, the book trade faces damaging threats from a boom in video games, deeper discounting and online sales of used books.

On the eve of the Frankfurt Book Fair in Germany this week, the world’s biggest annual industry event, publishing houses say these trends, coupled with an ailing global economy and no new Harry Potter blockbuster, have them struggling to grow at the rate of inflation this year.

The book business is getting hit on both ends: As popular new releases sell for less at discount retailers, brisker trade on websites such as Amazon and Abebooks cuts into sales of the usually reliable and profitable backlist.

But publishers admit that their success hinges on what it always has: finding good authors and good books, which is why they descend on Frankfurt by the thousands, in search of the next J.K. Rowling.