Before you do anything, ANYTHING, read the article on the current state of the publishing industry from Harper’s Magazine. It’s a great run-down of the challenges that publishers face. The kicker, and I am paraphrasing an eleven page article: They did it to themselves! Harharhar! Actually: not funny. It reads like a hit piece on the Frankfurt Book Fair that’s held every year to find the next new thing. Or an attack on the money/media establishment.
“CEOs pressured editors to buy big bestsellers, which developed into the form of mutual assured destruction that is the book auction, a sales device that leads to insupportable advances and thus to virtually inevitable disappointments.”
I would link you to the article, but Harper’s still embraces a pay for content approach to their online world. Well, pay for a subscription. Though I am not on the dole, I would say it is worth it. Or just come in and buy the new issue.
And speaking of unsupportable advances … Defamer reported yesterday that Kathy Griffin herself might be taking home a cool $2 Million for a book. One. Singular.It also mentions the other two high-profile book deals that have gone down this year already.
Oh what a glorious realignment it will be.
Ok, you can go back to eating donuts and pancakes.