Wednesday, August 12, 2015

Decline in Publishing Sales and what it means for Authors

Welcome to Inside the Publishing World Wednesday! Well, stats are out from publishers and things are not looking good. Usually the adult market is seen as slow, but now even Children's books are taking a hit. What does this mean for authors? It means it will be even harder to hook that agent or editor. They will be slimming the already narrow pool of potential hits, to certain hits. Yikes.

 PW says, "Financial results released by three major trade publishers within the last 10 days reflect the challenges publishers are facing in a market that is seeing little, if any, top-line growth. The most recent results from the Association of American Publishers StatShot program (see p. 5) showed that through April, combined sales of the adult and children’s/young adult segments were down 1.4% compared to the first four months of 2014. The lack of industry growth has made it more important for publishers to continually find big hits or else risk a sales decline. The inability to match major bestsellers released in the fist half of 2014 in this year’s fist six months was cited as a key factor in the drops in revenue at Hachette Book Group and Simon & Schuster."

For the full article go HERE.

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