Diamond Comics Distributors filed for Chapter 11 bankruptcy protection today. They also announced that they were selling off pieces of their large company - Alliance Games and Diamond UK were two mentioned today with others likely to happen soon.
What does this mean for the comic book business? Hard to tell for sure. Diamond has been losing pieces of the distribution business for the last five years and right now they're a comparatively minor player in the game. However, when it comes to small press comics Diamond is one of the few viable nationwide distribution options.
Remember that a Chapter 11 filing indicates an intent for the business to continue after a reorganization.
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Looks like Vault isn't waiting around to see how this shakes out:
VAULT ANNOUNCES DIRECT-TO-RETAILER WHOLESALE DISTRIBUTION
Vault comics has announced the launch of direct-to-retailer distribution of all new Vault titles, to operate alongside its existing distribution channels.
Vault’s direct-to-retailer distribution platform will launch on February 3, with select key backlist and frontlist titles immediately available for order. Additional backlist and frontlist titles will be made available to order in the coming weeks.
Retailers interested in setting up direct sales accounts can sign up here: https://vaultcomics.com/direct
New retail accounts that sign up before February 28 will receive free shipping on all orders for the first six months. Products will be made available to retailers at discounts of at least fifty percent of the retail price, with automatic additional discounting per order based on total order cost. Thereafter, base discounts will be determined by account ordering volume, and free shipping will continue for qualifying orders. Packing, shipping timelines, and shortages and damages policies will meet or exceed industry standards.
Concurrent with this, Vault is making broad adjustments to its publishing plans to best align formats and release dates across its distribution channels including direct-to-retailer distribution, Lunar Distribution, and Simon & Schuster. These adjustments will require delays or cancellations and new solicitation of upcoming Vault titles. Changes to formats and release dates will be announced in the coming weeks.
“We want to make sure we deliver our books to fans, comic shops, and booksellers in the best way possible, said Vault CEO Damian Wassel. “We believe launching direct-to-retailer distribution is the right step for our business, our creators, and our fans, and we look forward to delivering some incredible books straight to the retailers who helped us build Vault.”
Thanks for the tl;dr summaries!
(This is why publishers like Marvel and Image -- which are non-exclusive to Penguin Random House and Lunar, respectively -- appear in the Previews catalogue, but DC Comics -- which is exclusive to Lunar -- does not.)
Lots of unsettling stuff above in the days I've been offline. This wasn't mentioned, but I wonder whether ot not the "old school" practice of distributing comics on a returnable basis has any merit in today's publishing world...? (Probably not.)
Perhaps some small group will step up in Reddit or somewhere else [to compile information].
I'll do my best to continue the Comics List as well.
What about PS Artbooks?
I didn't have an answer for this when you first asked, Jeff, but now I do -- courtesy of PS Artbooks themselves. Evidently they ARE a Diamond custormer. And they're in emergency mode. From a recent press release:
To our valued retailers and customers:
We continue to work with Diamond Comics Distribution to fulfill orders, despite the current uncertainty surrounding their operations. Retailers, we encourage you to shop directly with us on our website, where we offer wholesale discounts and full access to our catalog.
For our readers, we remain committed to supporting local comic shops, but if you're unable to find our titles due to distribution challenges, you can always order directly from us online. Our website ensures reliable access to your favorite books.
A Statement to Our Wholesale Retailers
As many in the comics and publishing industry are aware, Diamond Comics Distribution has recently faced significant challenges that have raised questions about its future operations. While Diamond has been a cornerstone of comic book distribution for decades, the current situation has introduced a degree of uncertainty for publishers, retailers, and creators alik
At PS Artbooks, we want to reassure our valued retail partners that we remain committed to fulfilling all orders placed through Diamond. We deeply value our longstanding relationship with them and recognise the vital role they have played in connecting our products with retailers and fans around the world.
However, given the uncertainty surrounding Diamond’s future, we also believe this is an important moment to strengthen our direct connection with you, our retail partners. To that end, we encourage retailers to consider ordering directly from PS Artbooks through our website. By shopping with us directly, you can take advantage of exclusive wholesale discounts and gain access to our full range of titles.
We are dedicated to making the ordering process as seamless as possible, offering competitive pricing, responsive customer service, and reliable fulfillment. Our goal is to ensure that your shelves are always stocked with the best that PS Artbooks has to offer, regardless of any industry-wide disruptions.
While we will continue to work with Diamond as long as they remain operational, we also see this as an opportunity to grow closer to our retail community. Your success is our success, and we are here to provide the tools and support you need to keep delighting your customers with our unique and timeless titles.
We appreciate your understanding and continued support during this period of transition for the industry. If you have any questions about ordering directly from us or need assistance, please don’t hesitate to reach out. Together, we can ensure that PS Artbooks remains a reliable and trusted partner for years to come.
Sincerely,The PS Artbooks Team
A Statement to Our Valued Customers
As a loyal reader and supporter of PS Artbooks, your enthusiasm for our titles means the world to us. We know that many of you rely on your local comic book shops to discover and purchase our books, and we wholeheartedly encourage you to continue supporting these wonderful community hubs. They play an essential role in the comics ecosystem, and we remain committed to ensuring our books are available through their shelves.
However, as you may have heard, Diamond Comics Distribution, a major distributor of comic books, is currently facing significant challenges that have introduced uncertainty into the supply chain. While we continue to work with Diamond to fulfill their orders, we understand that availability at your local store could be impacted.
To ensure you never miss out on our latest releases or beloved back-catalog classics, we want to remind you that you can order directly from us through our website. When you shop with us online, you’ll have access to our full catalog of titles, including rare and hard-to-find editions. We’re committed to providing fast and reliable service so you can enjoy your favoUrite books without interruption.
We want to be clear: supporting your local comic shop is always a priority. They are the heart of the comics community. But if you’re unable to find what you’re looking for due to distribution challenges, know that our website is here as a convenient and dependable option.
Thank you for being part of the PS Artbooks family. Your support inspires us to continue bringing the rich history of comics to life through our carefully curated collections. If you have any questions about our titles or need assistance with an order, please don’t hesitate to reach out.
Happy reading,The PS Artbooks Team
Thanks for the info on PS Artbooks. I have had to order from them directly several times when one volume or another had "fallen through the cracks" and I have no complaints with their overseas delivery.
On the good news front (especially for UK readers), ICv2.com says this:
"Diamond and a company associated with Canada-based Universal Distribution have signed a non-binding letter of intent for Universal to acquire Diamond UK. Universal has also submitted a stalking horse bid for Diamond’s game distribution unit, Alliance Game Distributors, for $39 million. A stalking horse bid is typically made to set a price floor before an auction for the asset, with the bidder to receive a break-up fee if it does not end up acquiring the asset."
More bad news from and for Diamond. Bleeding Cool has reprinted a release from Diamond to retailers telling them that their distribution of Marvel, Dark Horse, IDW and many manga titles will be delayed a week. That means if your LCS uses Diamond for those publishers, Jan. 29 titles from those publishers will be delayed to Feb. 5. If your LCS does not rely on Diamond for those publishers, the books will arrive on time.
Here's THE STORY, with a list of the affected titles.
The owner of my LCS told me this today, not just for Jan 29 but for the foreseeable future.
Good Lord! (Choke!) If this becomes the status quo, then Diamond really is toast. Comic shops live and die by cash flow.
BTW, I just finished the Jan. 29 ship list and it seems Diamond is the principal (if not exclusive) distributor of Kodansha, TokyoPop, Webtoon Unscrolled and Seven Seas/Ghost Ship/Steamship manga. I can't post it yet -- I have to wait until Friday to double-check DC and Image, which sometimes change -- but those books will be delayed in most shops as well.
American Mythology worried it could go out of business:
Diamond Files for Bankruptcy: Effect on Our Publishing
If you missed the news - Diamond Comic Distributors - the outlet that supplies comic books to retail shops has filed for bankruptcy. They are not paying publishers for approximately 2 months' worth of books. They shipped them in to stores and now that money is gone pending a bankruptcy evaluation. The best-case scenario is that some portion of the money will get paid back at some point in the future. Worst case is that it is just gone. Leaving a lot of publishers - American Mythology included - holding the bag for huge print bills and creative costs.
The truth is - we don't know if we are going to survive this. Not only for the immediate expenses but for future distribution into comic shops if Diamond fully goes under. We've reached out to other distributors but no one is looking for small publishers to add to their distribution slates. We were exclusive with Diamond and now we are facing a world where we may not have access to comic shops in the future.
We are doing everything we can to survive this and to keep making your favorite horror comics. But only time will tell. Our first hurdle is with the immediate bills we have to pay with no incoming finances.
Some fans have asked how they can help. This means a lot to us. We know everyone has their own problems in life. And that you would consider trying to help us survive means everything. The best way to help is to tell a friend and fellow comic book or horror fan about our books and direct them to the webstore. Any orders that are placed directly are going to go right to paying the printer and creators we work with.
Thank you for your support and enthusiasm over our comics. We could not do it without you!
One has to wonder how typical American Mythology's situation is (my best guess: very).
From all indications, many a smaller publisher will be needing alternate distribution channels and have a hard time finding any. It seems to be a genuinely unattended demand for anyone below a certain print run size, now that Diamond is at least temporarily stymied, and we have to expect that many or most of the smaller publishers lack the means to weather this storm. That will also hurt their partners in many other areas.
Indulging a bit more on my guess-making, I see a near future where most of those smaller publishers will go all-digital, at least at first, while hoping dearly that someone like Amazon Logistics, DHL or FedEx comes up very quickly with some new service that happens to be well-suited to substitute for Diamond. I don't really think that Diamond can survive this crisis, and I assume that few if any will switch to Lunar or PRH.
It is also possible that this situation will contribute to renewed interest in print comics crowdfunding, which is field that has its own share of problems and challenges but would now appear to be one of the best, most viable ways of participating in that market without considerable short term capital.
My sympathies to LCS owners and workers. These must be difficult times for them.
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