Are Big Advances Killing the Publishing Industry?
Even though publishing is facing dire economic times, it is still spending furiously for celeb books. Galley Cat points out that these rarely earn out for the publisher so why the overspending? Dan Stone, agent for many of these celeb authors, argues that publishers must know where the market is otherwise why spend the cash? I can’t remember the last celeb book I bought unless you call The Audacity of Hope a celeb book.