Book News: The Publishing World No Longer So Glamorous
January 5th, 2009
I was not aware that the publishing industry was so over the top. Apparently life as an agent or working for the industry a dream job. From the New York Times:
For decades the New York publishing world promised a romantic life of fancy lunches, sparkling parties, sophisticated banter and trips to spots like the Caribbean to pitch books to sales representatives. If the salaries were not exactly Wall Street caliber, well, they came with a milieu that mixed cultural swagger with pure Manhattan high life.
What? That’s awesome! I wish I was in that industry. Or I guess I wish I WAS in that industry.
I do think it is interesting how things are changing. For example:
The group is limiting advances to no more than $100,000 in exchange for giving authors half of the profits from book sales, as opposed to the 10 percent to 15 percent of the hardcover price they traditionally earn in royalties. Borders Group recently agreed to take the first 14 books on the new unit’s 2009 list on a nonreturnable basis.
That is interesting that Borders is willing to do this. I wonder if that will become more of a standard around book sellers and how that will affect their business. I guess if you were a HUGE Barnes & Noble fanyou wanted to mess with Borders you could find out what books are on the list…go buy them…then return them!
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January 5th, 2009 at 7:43 pm
I wonder who will publish my future book (not yet written)? I’d go for that $100K up front deal.
January 5th, 2009 at 9:19 pm
now you would only get potential profits for your unwritten book. I’m sure that wouldn’t be a problem for whatever super popular book you have in mind.