In recent months, many main stream periodicals, including the Wall Street Journal, New York Times, and New York Magazine have published some very insightful articles about the state of the book business today. Two main themes are the importance of best-sellers and the effect of the digital age. The Traveling Chair is deviating from its normal Book Flights, to present a very relevant Flight: Publishing Today.
1. "Blockbuster or Bust: Why Struggling Publishers Will Keep Placing Outrageous Bids on New Books", by Anita Elberse, pub. New York Times, January 3, 2009
Beginning with the example of Sarah Silverman being paid 2.5 million dollars for her upcoming book, while the industry is in a slump, Elberse examines why its necessary for publishers to pay big money even in dark economic times.
Link: http://online.wsj.com/article/SB123093737793850127.html
2. "The End: The Book Business as we Know it Will Not be Living Happily Ever After", by Boris Kachka, pub. New York Magazine, September 14, 2008
Addresses the history of the publishing industry, assessing the role of the best-seller, the threat (or hope) that technology poses, and reviews the biggest hits and busts of the past year. This is a very comprehensive article about the current book industry, although it was published before the recession truly began.
Link: http://nymag.com/news/media/50279/
3. "Book Publishers: Learn From Digg, Yelp—Even Gawker", by Sarah Lacey, pub. Business Week, August 21, 2008
Urges book publishers to adopt a new model in order to have continued success. Posits that without internet-awareness writers will be lost. And uses the example of the Kindle's success to demonstrate the importance of changing the structure of publishing, and book campaigns.
Link: http://www.businessweek.com/technology/content/aug2008/tc20080820_194967.htm
4. "An Autopsy of the Book Business", by Jason Epstein, pub. The Daily Beast, January 8, 2009
Epstein believes that the major downturn in book publishing and readership can only be addressed by turning all of publishing digital -- he believes the internet and all its tools (the Kindle, the potential for a Universal Library) is today's equivalent of the Gutenberg printing press.
Link: http://www.thedailybeast.com/blogs-and-stories/2009-01-08/an-autopsy-of-the-book-business/2/
5. "How to Publish Without Perishing", by James Gleick, pub. New York Times, November 30th, 2008
Addresses Google's new agreement to create World Books -- an enormous universal library. Gleick claims that some see this, along with other digital advancements, as the death knell for the book. Instead, he states that the book is itself perfect (pointing out that he believes that informational books, like encyclopedias, are on their way to extinction) -- and that publishers should keep publishing them.
Link: http://www.nytimes.com/2008/11/30/opinion/30gleick.html?pagewanted=1
Commentary: All five of these articles address the current state of publishing. The New York Magazine article is the most comprehensive, taking a look at the history of the book as well as its current, changing status. Elberse's article may be read within the context of our current economic condition: what choices do publishers have when they're losing money but still need to make money? Its terrifically well-written. The final three articles address the information age and its effect on book publishing. Lacey's article urges publishers to change their model, while Epstein's more strongly states the necessity of abandoning the printed page. Gleick's Op-Ed refutes these, stating that a book will always be treasured by those who love to read.
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