The Committee will continue to monitor the economic outlook and financial developments
It has always been tough for literary fiction writers to get their work published by the top publishing houses. But the digital revolution that is disrupting the economic model of the book industry is having an outsize impact on the careers of literary writers.
Priced much lower than hardcovers, many e-books generate less income for publishers. And big retailers are buying fewer titles. As a result, the publishers who nurtured generations of America’s top literary-fiction writers are approving fewer book deals and signing fewer new writers. Most of those getting published are receiving smaller advances.
“Advances are down, and there aren’t as many debuts as before,” says Ira Silverberg, a well-known literary agent. “We’re all trying to figure out what the business is as it goes through this digital disruption.”
Much as cheap digital-music downloads have meant that fewer bands can earn a living from record-company deals, fewer literary authors will be able to support themselves as e-books win acceptance, publishers and agents say.
photo { Tim Geoghegan }
previously { Seth Godin: The new dynamics of book publishing }
