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The Dangers of the Big Book Economy

There have been alot of articles of late about whether publishing needs to re invent itself as an industry (yes, I say) rather than rely on the big book theory of financial success.  The big book theory was articulated most recently by Elberse in a Harvard publication (go look at my Sunday article if you want the link now or come back when I edit the post) as publishers focusing on bestsellers to drive the bus. One example of this going very wrong is Scholastic who, without Harry Potter, posted a revenue loss of 46% in the first quarter ending August 31 and a net loss of $44.7 million.  Looks like Scholastic needs a bailout.

<blockquote> Scholastic continues to keep its focus on cutting costs and has implemented a hiring freeze and voluntary retirement program.</blockquote>

Jane Litte is the founder of Dear Author, a lawyer, and a lover of pencil skirts. She spends her downtime reading romances and writing about them. Her TBR pile is much larger than the one shown in the picture and not as pretty. You can reach Jane by email at jane @ dearauthor dot com

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