From the Desk of Nephele Tempest: It's the Economy Stupid

It seems the nation's economic difficulties are finally trickling down to affect the state of the publishing industry. On a recent trip to New York City to visit with editors, I experienced the disturbing dichotomy of people trying to sound optimistic while reciting statistics about layoffs, hiring freezes, and decreases in orders from major book distributors. Publisher A has cut their staff by ten percent across the board; Publisher B canceled a number of expensive book contracts and is only offering newbie authors single-book deals; Publisher C is hoping that the slower rate of signing new books at most of the big houses will translate to their being able to pick up projects for smaller advances.

What happens to book buying when people start to tighten their belts? On the one hand, books are still a fairly inexpensive form of entertainment, even as their prices slowly inch upward. You can get a nice thick mass market paperback for less than the cost of going to a movie, and chances are it'll keep you occupied for longer than two hours. However, you can also borrow your books from the library, a habit that does little to boost the bottom line for the publishing house or for the author. Statistically speaking, book sales did pretty well overall during the Great Depression, but back then they did not have to compete with television and the internet, and more people read regularly prior to the economic downturn. As the people in the investment business will be quick to tell you, past performance is no guarantee of future results.

So what does this mean for you as a writer? Should you hang up your favorite writing robe and find some other way to spend your time? Of course not. But a tight economy means it is more necessary than ever to hone your skills and to keep working on your craft. Editors will be looking for books that have even bigger hooks and that are well written and highly polished. Subjects might veer toward more escapist plots, instead of gloom and doom stories that tend to remind people of their problems. And if your sales numbers are not too strong, prepare yourself for an advance that strongly resembles the last one.

We as agents are, of course, prepared to fight for our clients and to get you all the best deals possible, even in this flagging economy. Hence trips to New York to reconnect with the editors we know, and to get to know the ones who are up-and-coming. Interestingly enough, trends appear to be right where they have been, with many editors anxious for urban fantasy, paranormal, great romantic suspense, and fresh historicals. But I also heard some requests for humor -- funny paranormals, light contemporaries, historicals that have an underlying sense of amusement. The simple truth is that most people read novels to enjoy themselves, to distract themselves from the difficulties of their day. So while financially speaking, the publishing industry might find itself at the whim of the economy, it can also serve as the balm that helps to soothe people who are really feeling that economic pinch.