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.

From the Desk of Melissa Jeglinski

Through the Looking Glass: Life from the other side of the publishing world.

Making the transition from editor to agent was a complex move for me. And even after a few months, it’s still a work in progress. Coming from an editorial background, I was taught to look at projects with an objective eye, but within a very finite set of requirements. As an agent, the world has suddenly expanded, allowing me to fall down a rabbit hole filled with possibilities.

On this other side of the publishing table, I am reviewing a wider range of genres, working with a more eclectic group of authors and placing their works at a varied array of houses. There are no limitations. And that is both exciting and daunting.

Romance has always been my first love and I will always have a special place in my heart for series romance...that will never change. But working at one publishing house only allowed me to buy for that house’s needs. And though imprints were born and, sadly, died, there was a limitation on what I could pursue. Now, the only limitation is my own desire. The Knight Agency receives an average of fifty queries per day running the gamut from young adult paranormal, to self-help nonfiction, to three-hankie women’s fiction reads. With a broader array of genres and sub-genres to peruse, my excitement level has ratcheted up 200%. I’m literally a kid in a candy store with so much to choose from.

Adding these new genres into my repertoire has broadened my exposure to many new editors at many new houses. In my previous job, I had worked alongside editors for seventeen years. I saw them come and go...in my publishing house. I knew what they were looking for just by passing by their office to chat. In this broader world of agenting, I am involved with multiple publishing houses where new editors arrive constantly and whose tastes and needs vary more than all the tea in china. But I am expanding my world of business acquaintances. I am so looking forward to attending writers’ conferences where I can meet with these editors face to face. And...it’ll be really cool to get taken out to lunch for once instead of the other way around.

As for working with clients, I am loving the infinite possibilities this new endeavor has given me. Taking on new clients is much different in the agent world. When I was an editor, I’d be buying an author based solely on their manuscript. And that manuscript would have been sent to my attention because I was the senior editor of the line they were aspiring toward. Now, there is much more open communication involved in my taking on a client.

If the writer submits a project directly to me, it is either because they know my reputation, have worked with me in the past, or I was recommended by a fellow author. If the writer submitted a project to the agency’s general submissions folder and I happen to request it, then I have to introduce myself to the author. In both cases, the perspective client and I have an open, honest dialogue. We discuss what they are looking for in an agent and what I can do for them. We have to both be agreeable to the terms of our relationship. So we know we have a good connection. There is a lot more choice involved in this type of collaboration.

This journey into the agenting world has certainly brought about many changes to my career...all for the better. Working with such a variety of projects and talented writers has reinvigorated my joy for the written word. I know there will be challenges I will continue to face, but am eager to meet them head on and look forward to all that awaits me on this side of the looking glass.