STOP STARTING WITH HARDCOVERS
(I began the series with Three Things I’d Love to See, but in the midst of a failing economy I think there are probably going to be quite a few more – you know, about 16. This one I’ve thought about for years and could easily have made the top three.)
Here’s why I know a book industry era has come to an end: One publisher after another keeps referring to hardcover books as “promotional copies for the paperback edition.”
Yes, hardcover books are selling so poorly that their only use for publishers is to get reviews, book interviews for the author and pave the way for a trade paperback edition that the real audience can afford.
True, the few hardcover books that hit bestseller lists can pay off big time, but these are known commercial hits that are worth giant marketing budgets from the beginning. Or so publishers think.
It’s a much more dangerous risk to try making an unknown author’s book a bestseller, which is why “The Story of Edgar Sawtelle” (before Oprah) was so thrilling: Ecco/Harper knew exactly how to manipulate the formula of big-sprawling-summer-novel+Hamlet gimmick+beautiful-writing+struggling author backstory+DOGS DOGS DOGS = Must Read.
A larger truth, however, is that mid-list and serious literary books by lesser-known authors rarely find their audience in hardcover. Those adventurous readers who watch and clip reviews, look for new voices and love heated book-group discussions most often wait for the paperback, and who can blame them? The cost of a hardcover book after sales tax is about $30. The cost of a trade paperback after sales tax is about $15. (more…)