So, to summarize:
1. Borders may be involved in the practice of “book churning,” or ordering more books than it knows it needs, tearing the covers off the mass-market paperbacks, and sening them back to the publishers for credit, even though they aren’t spending a dime. These orders go through Ingrams and cause the stores to receive credit on their accounts with the publishers. For more information and a really helpful explanatory post on this practice and how it’s affecting the small and large presses, check out “Smacked in the Face by the Long Tail: Business Churn” by LiveJournal blogger Kaigou. This article is well worth the read, as it has a breakdown on the mathematics involved and the profitability issues associated with the practice. It’s worth the read.
2. Ellora’s Cave overspent by buying its own presses and warehousing its own books, and while the profitability of its ebooks remains steady, its print division is suffering because no one wants to work with the company anymore.
3. EC’s executives are suing Borders for screwing EC over, but Borders has only about $40 million in assets, %435 million in debts, and even if EC wins its suit, it will be at the back of the line if Borders liquidates.
4. Allegedly, EC has let its relationships with several authors, both popular and less known, suffer over the last three years because of various unsound, unexplained, or seemingly arbitrary decisions. Some anonymous (and a few not-so-anonymous) authors have aired their complaints in the comments section of the Dear Author thread concerning the lawsuit announcement.
5. Jaid Black and her V.P. have reponded unprofessionally on the thread, and a shitstorm ensued.
…Wow. I am so, so glad I decided not to submit to EC. Not only do these hysterics remind me of past public relations issues that people have had with Ellora’s in the past, but it looks as if the company might end up running itself into the ground from bad business decisions. Why didn’t EC use Ingrams? What gives? And does it really help to issue veiled threats against authors who act as ‘whistleblowers?’ Wouldn’t it have been wiser to simply not respond and let people read the legal summaries?
Tags: Bad Business Decisions, Borders, EC, Ellora's Cave, Jaid Black, Lawsuits, Mismanagement, Publishing Industry, Publishing Industry Controversies, Shooting One's Self in the Foot
Posted by Persephone Green on Dec 19, 2008 in
Publishing & the Economy,
Publishing Industry Literary Agent Colleen Lindsay noted that editor Mark Tavani, senior editor at Ballantine Books, had sage words of advice about the current economic crisis and how the publishing industry’s problems started long before the September 13th* economic collapse. In Books, Going Forward, he said this:
Anyway, maybe we contract. Maybe fewer books get published. Maybe some publishing folks have to look elsewhere for a paycheck. I don’t say those things lightly, because I love those books, and I’m one of those publishing folks, and I have a lot of friends in the industry. But on the bright side, maybe fewer books will mean better books. Maybe, over time, books will regain an elite status that I sense they once had. Maybe, in the end, books won’t qualify precisely as mass entertainment, but entertainment for a sizable if select audience.
Travani has a lot of salient points, and I agree with him in part here: consumers are having to drag the publishing industry kicking and screaming into the twenty-first century, and it shouldn’t be that way. If fewer imprints means that editors will stop giving multi-million dollar advances to anyone, let alone illiterate celebrities, if publishers will look at newer technology like Print-On-Demand with interest instead of scorn, if corporate lawyers will give up on the idea of DRM because it alienates consumers and actually increases piracy, then yes, I will be the first out there to champion reorganization. The Millenial Generation is coming of age, and we do not look at traditional institutions he way our parents did.
For instance, I don’t look at the internet model of instant gratification and see it as a temporal phase that will wax and wane as blogs overpopulate the digital enivironment. The first (and last) problem with that way of thinking is that environments, unlike the Internet, have limits.
There is one sector of book reading that has not declined over the past few years, and that is ebooks. Granted, many of these books are in two genres, erotica and romance, but the sci-fi, fantasy, and horror genres are making headway with publishers like Baen and one-stop shps like Fictionwise. Meanwhile, Amazon wants to dominate and overtake the publishing industry as the seller of all proprietary creativity, just as Google wants to be the organizer of all proprietary creativity. Someone needs to move in front of the train before there is no more room left on the tracks for anyone else to ride.
I also look at traditional models of mass media as just what they are: models of what has worked in the past, what holds up in the present, and what may or may not survive into the future. Lest someone interpret this point of view as a writ of doom on the current vetting system, however, literary agents are the part of the publishing industry most likely to survive and thrive. Our society is built to delude unskilled, mediocre creators into thinking that they are unique, special snowflakes and to reward incompetence as long as the person embodying it sells it efficiently and with enough self-confidence. As long as there are abject failures lacking in artistic merit who believe they deserve to be published, there will always be a need for the gatekeepers. This does not preclude other authors who simply choose to work outside the model from being good authors – although the vast majority of them will be terrible authors — because there are some who want complete editorial control, some who aren’t in it for the money at all, and some who have built-in platforms that do not require the services that a literary agent can provide in order to succeed financially. None of these trends above are new, only the modus operandi has changed.
There’s nothing wrong with publishing fewer books — if the books we’re cutting are coffee table books, celebrity biographies, compendiums of useless facts and self-help ripoffs like The Secret. If we’re talking about publishing fwere vampire stories, then maybe we should talk about publishing fewer BAD vampire stories. There are different taste levels, and then there’s just straight-up bad writing. Bad writing should not find an agency, much less a publisher. Trends should not preclude sales of sub-genres.
I know that the average non-writer does not see a difference in quality betwen Tom Clancy and Stephen King, only genre and taste. Writers should see a difference. One of those two men can write damn good prose; the other just makes a lot of money. But I still think that both of them have a place on our bookshelves.
Why? Because as a whole, the literacy rate should be increasing, not decreasing. If airport novels are what it takes to keep the average consumer literate, then so be it. It’s bad enough that national news anchors have forgotten what adverbs are. There is no need to send the populace into a grammatical tailspin by serving up only The Kite Runner or the lastest book by Thomas Pynchon.
For the record, I feel no personal animosity towards authors or readers of literary fiction. I read it, I’ve written it (or at least tried to, in my not-so-humble opinion, under a different name), and I’ve enjoyed it. The deciding factor for me is usually the plot, and genre fiction tends to have plots that are more appealing to me on the whole. As someone who dreams of supporting herself one day by her words alone, I can look at the bestellers lists right now and tell you that the road I want to travel will be a hell of a lot easier if I write genre fiction. History has given us many, many decades of literary elitism and maybe three decades of commercial elitism. Why would the pendulum swinging too far in either direction appeal to any of us? Can’t we strive for artistic merit without falling prey to the pseudo-intellectual hype about Iowa Writer’s Workshop graduates and New Yorker pieces? Can’t we read beautiful prose that appeals to a broad audience?
* (JYFI, I say September 13th and not the first actual date of the stock market plunge because that was the day that at noon EST, everyone was pretty sure Bank of America or Barclays would buy Lehman Brothers. By 6 p.m. EST, Those potential deals had fallen through, it was pretty clear Lehman Brothers would file for Chapter 11 bankruptcy, and the credit options for buying cars had frozen. I know this because my family bought a new car at appoximately 3 p.m. EST, and we received a great finance rate on our loan. We were probably one of the last families in the country to purchase a vehicle before dealers received panicked calls and the banks stop issuing loans. Then, on Monday, the stock market crashed.)
Tags: Publishing & the Economy, Publishing Industry
Posted by Persephone Green on Nov 25, 2008 in
Publishing & the Economy,
Publishing Industry More Terrible Economic News from Dear Author. Oh, dear. -.- Harcourt has even halted acquisitions of manuscripts entirely.
I…don’t think that has ever happened before. Ever.
Just wait until Paulson and Bernanke announce that (Neener, neener! We love banks and screw you little guys!) they’re not going to give money to automakers and will let GM go bankrupt, and the hundreds of industries dependent on cars all fall like dominoes. I’m fairly certain that Pennsylvania and Ohio will actually lose about a third of their tax revenue. Hell, the only place employing people around here are HMOs, chain stores, discount stores, gas stations, car dealers, and car manufacturing industries. Everything else, and I mean everything, is in the crapper, and they’re ready to pull the flush handle. How will people buy books when they have no jobs, no internet, no car?
Tags: economic meltdown, financial crisis, Publishing Industry
