The recession hasn't pulled punches with any industry. Across the board everything from porn to manufacturing has suffered serious blows to the bottom line and publishing is no different. I, if you haven't noticed, have a vested interest in this.
While I disagree with bailout plans as I believe survival of the fittest should be the law of any land, financial or natural, I still suffer from a degree of sadness when some of my favorite stores fail. Failure to adapt to our current competitive climate rings a death knell I would have hoped these stores heard loud and clear early enough - but apparently not. One of them was my favorite neighborhood Borders. I loved that store.
I would escape on my lunches to wander the aisles, leisurely read the backs of books, occasionally buy more than I could read in my rare spare time, listen to music and take in the general scholastic vibe. I enjoyed their expansive aisles, tasteful decor and organized shelves. Now, the only bookstore around is Barnes and Nobles. When I go in there I feel like I'm entering a garage sale, or some cluttered basement of someone desperately trying to destash their dust-collecting tomes. The aisles are small and cramped, traffic is impeded by tables heaping ofsale items, staff isn't particularly informative or helpful and it's loud in there. Shelves tower taller than the average person's eye level and creates a claustrophobic atmosphere.
I've resolved to the fact that Amazon is going to be where we purchase books from here on. I don't particularly have a dislike for Amazon, but I enjoy being able to touch, feel and look at the artwork on a book, read the jacket and make decisions that will result in me being able to go home with the book and devour it immediately after purchase. For a literary junkie, waiting from three days up to 3 weeks is torture before being able to crack open a freshly bought book.
The crumbling Borders chain is an indicator to what is going on behind the scenes. I subscribe to several literary blogs (authors, editors and literary agents) and you'd be surprised at how much turmoil the publishing business is in right now. Has the recession affected your book purchasing habits? It hasn't mine. In fact, when entertainment and other luxurious are too expensive, a book isa cheap vacation to a thrilling story or a beautiful far away place and interesting characters. But, apparently the recession has severely affected publishing houses.
While trying to sell my own novels, I've discovered a politer than usual rejection letter - that the current market isn't accepting acquisitions at this time. Further investigation into the blogs of the aforemention industry people offer a dim glimmer into the fading world of book-publishing. Editorial houses are consolidating or merging, which has meant huge layoffs for editors and publishers alike. Additionally, because these houses are freezing acquisitions of new novels and playing it safe with established authors (and insulting our intelligence in the process), literary agents and agencies have clients, but no sales. Agents have been laid off as well in the wake of this trend - which means fewer agents for unpublished authors like me.
Established agents assure it's a trend that will pass, like the recession, but other watchdog groups suggest a dark gloam that has yet to settle over publishing. With the average reader accepting media trends like Kindle or online e-books at a cheaper cost for most reading material, it's no wonder why big box stores are struggling. Gone is the day of the author able to live full-time on the proceeds of their advance from their published novel, unless you have a huge marketing budget, loyal fan base,and endorsements like Stephen King, Stephanie Meyer or JK Rowling to name a few. Which is fine, because most authors write to tell a story, not make a dollar. And, if an author is in the business to make money, chances are what they're writing isn't anything worth reading that will make you think, make a difference or serve a purpose.
With every challenge, success lies in the ability to adapt. Where the industry isn't adapting, the author must. On the front page of New York Times last week I saw an article about the plight the publishing industry is facing, and in turn what other aspect was booming - self-publishing. Self publishing offers a forum for authors to edit, proof and printtheir own books with the help of websites like Lulu.com. Reasonably priced and also offering an outlet to sell and market one's own books, Lulu provides an answer to the struggling writer. Skipping the soul-ripping and ego-deflating writer-agent query process and the arduous political game of editor boards -going straight to publishing on demand - if the author can afford it - is a quick fix to getting published. A cult following and elitist self-published author readers help cushion the shock of flat sales. Knowing how to sell your story helps in this process by grabbing cross-genre readers.
However, author beware.If an author takes advantage of such resource, the rights are lost if the author wishes to approach a publishing house to print after-the-fact for reasons such as sales aren't what the author thought it should/would be.Publishing and editorial houses like first crack and, of course, exclusivity to a story. Also, be sure to read ALL the fine print - as some self-publishing sites actually require a writer to sign over the rights of the story and only receive royalties based on sales.
Ultimately, times are changing. The publishing industry is starting to adapt during crisis, the reader is welcoming more technological advanced trends and writers now have options. Will I continue to attempt to sell my stories through the conventional method? Perhaps. Will I try out self publishing? Maybe.