Sep 25 2008
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>
Related posts:
- NYTimes Interview with Scholastic CEO Hints at More Rowling, But Not More Potter
- Scholastic Claims Harry Potter Successsor
- NYTimes Allegedly Buys Last Potter Book and Reveals Plot Details in Review
- Bookstores Buoyed by Harry Potter But Future Looks Grim
- Net Book Sales in February Up Despite Depressed Economy
