It sometimes feels like all news coming out of the book industry these days is bad.
Publisher's Weekly reports on a pre-Christmas Bowker PubTrack Consumer service survey in the US: "... 34% of Americans have reduced the number of books they are buying, while 19% of consumers are either buying more used books or swapping books with others. Other ways consumers are looking to save money when buying books include buying fewer hardcovers and more paperbacks, and only buying books that are being sold at steep discounts or that are on sale. And in a direct contrast to the hope that consumers might buy books as an inexpensive form of entertainment, only 2% of consumers said they are buying more books as an alternative to more expensive kinds of entertainment."
News reports also suggest that the tiny e-book market is booming, but it is difficult to say how much of it is hype. Besides, we have to approach the numbers with caution. If a company sold 1 e-book last year and sells 2 this year, it reflects a growth of 100%, but not quite enough to set the world aflame. To make things worse, a recent PC World report says that we should brace ourselves for e-book piracy. "We are now seeing large volumes of e-books being pirated on everything from file-sharing networks to Websites," says Ed McCoyd of the Association of American Publishers, and the Hachette Book Group says that e-book piracy has grown "exponentially" over the past year. PC World has found virtual bookshelves full of with pirated e-book titles ranging from popular fiction and nonfiction, to college textbooks and how-to e-books for the Amazon Kindle, Sony Reader, or Barnes & Noble Nook.
But there are those who have found opportunities.
Although massive advances that used to be the norm have dried up, publishers are looking desperately for the next 'insanely great' first novel, says Alan Rinzler in his blog post. He has been speaking to Jay Schaefer, a publishing veteran, who says: "Everybody's looking for the next big thing -- a work of great literary fiction from an unknown writer who's never been published ... No question, good debut novels are getting snapped up and published." Well, writers, what are you waiting for? But he also says. "We've declined a lot of well crafted but empty stuff. You know, I think too many writers have been influenced by American Idol. They want to leap out of the chute, and win the literary lottery without working that hard."
He also has some useful tips: "Don't be in a rush to publish. Make sure it's as good as you can make it. Get some reliable feedback before you show it to an agent or publisher. Consult with a professional, a literary coach, take an advanced class in writing, or hire an independent editor."
And another story in the Daily Finace says Vanity Publishing Is Booming, and the Big Houses Want In (at a Price). Apparently, there is a lot of money in POD, although this is not necessarily from book sales. One report says that on an average around 41 copies of a POD book are sold in total, mostly by the authors themselves. So, there is real money to be made from writers who are willing to pay to be published (and to buy their own books). On-demand and short-run services are making a lot of money, with an approximately 132% sales jump in 2008 while the rest of the industry is in doldrums. Recently, romance publisher Harlequin announced it was getting into the pay-to-publish game with a new imprint, DellArte Press. (Some writers' and readers' groups have down-graded Harlequin as a result, but hey, go where the money is.)
Finally, Chinese writer Mian Mian, author of Panda Sex about China's underworld of sex, drugs and nightlife, (most of her work is banned in China) is suing Google for digitising her book without her approval. She wants 61,000 yuan (US$8,950) and a public apology. Yet, another good way to make money.
With that, we wish all reader a Happy and (in true Asian fashion) a Prosperous New Year. 2010 should be a good year. After all, it is the year of the Tiger.
