[Link] After a Splashy Book Deal, I Got Dropped By My Publisher, But I Kept On Writing

Why stubbornness is the most fundamental skill an author can have

by Rob Hart

This is the thing I’m probably not supposed to write. But I tried to write it six different ways without telling the truth, and I couldn’t do it, so here goes:

My career has not been the success people think it is.

My first book came out from a small press in 2015. The advance was just enough for a fancy steak dinner after taxes. I wrote four more books in that series, and while I was getting some solid acclaim in the crime fiction community, I wasn’t anywhere close to quitting my day job.

And that was fine. I was doing the thing I loved.

Then I wrote a book called The Warehouse, which was pre-empted by a Big Five publisher for a ridiculous amount of money. I thought the book was unpublishable because it was essentially a fuck-you to Amazon. Then I thought it would never appeal to foreign markets, but we sold it in twenty languages. It generated enough heat to be optioned for film by an A-list director.

All told I made enough money off that book to become a full-time writer.

And I thought: This is it, I made it through the door; the rest of my career is going to be sunshine and smooth sailing.

It was not.

Read the full article: https://opensecretsmag.substack.com/p/rob-hart-writing-career-publishing-struggles

[Link] No one buys books

Everything we learned about the publishing industry from Penguin vs. DOJ.

By Elle Griffen

In 2022, Penguin Random House wanted to buy Simon & Schuster. The two publishing houses made up 37 percent and 11 percent of the market share, according to the filing, and combined they would have condensed the Big Five publishing houses into the Big Four. But the government intervened and brought an antitrust case against Penguin to determine whether that would create a monopoly. 

The judge ultimately ruled that the merger would create a monopoly and blocked the $2.2 billion purchase. But during the trial, the head of every major publishing house and literary agency got up on the stand to speak about the publishing industry and give numbers, giving us an eye-opening account of the industry from the inside. All of the transcripts from the trial were compiled into a book called The Trial. It took me a year to read, but I’ve finally summarized my findings and pulled out all the compelling highlights.

I think I can sum up what I’ve learned like this: The Big Five publishing houses spend most of their money on book advances for big celebrities like Britney Spears and franchise authors like James Patterson and this is the bulk of their business. They also sell a lot of Bibles, repeat best sellers like Lord of the Rings, and children’s books like The Very Hungry Caterpillar. These two market categories (celebrity books and repeat bestsellers from the backlist) make up the entirety of the publishing industry and even fund their vanity project: publishing all the rest of the books we think about when we think about book publishing (which make no money at all and typically sell less than 1,000 copies).

But let’s dig into everything they said in detail.

Read the full article: https://www.elysian.press/p/no-one-buys-books

For a response to this article, check out this link: https://countercraft.substack.com/p/yes-people-do-buy-books