John Lippman, CEO and leading entrepreneur who found Bookspan had been an executive at Evergreen Copyrights, a firm that deals with music rights. Lippmann is a very popular figure in the media and entertainment industry. He has bought majority of stakes in the firm Bookspan. His main idea while doing this was to re-launch Book of the Month Club which was first started in 1926 a major player in the book and publishing industry as it helped reshape book sales and membership. John has served as senior vice president in companies like Synergy Outdoors and was CFO of Evergreen Copyrights. He first worked at HBS and Lehman Brothers Private Equity.
Book of the Month Club
John Lippman has experience in the book, publishing and book membership industry with Bookspan which was a joint venture with Time Inc. and was a collection of book clubs. His latest venture the Book of the Month Club has been formed under the parent company Bookspan. John Lippman has experience in acquiring, building and selling companies in e-commerce, media and entertainment industry. He has also led several start ups and corporate turnaround.
Why the Re-launch
Rise of e-commerce companies like Amazon had led to the decline of book membership companies and the Book of the Month club also had a similar fate before John buying the company in 2012. He bought a majority stake in the company Book of The Month Club with a vision to remake this club for a different target group like the millennial generation.
John Lippman has a vision of completely upgrading Book of The Month Club’s customers. He has increased the revenues of the club in first 2 years by changing the rental plans for hard covers and book subscription. He hopes to take the club to new heights.