Motoko Rich’s piece in yesterday’s New York Times points out the crazy extremes of the book business in these times, comparing Houghton Mifflin Harcourt’s “temporary” acquisitions freeze with the situation at Hachette:
As first reported by Publishers Lunch, an industry newsletter, Hachette is giving bonuses equal to one week’s salary to every employee in the company, in addition to the regular bonuses for which staff members are eligible.
Why is this possible?
On the surface these twin pieces of news would seem to suggest that success in the book industry, as with other forms of entertainment, is increasingly dependent on the production of major hits, works that are so successful that they can support a family of less successful siblings. David Young, chairman and chief executive of Hachette Book Group, said that the company had racked up 104 New York Times best sellers this year.
Once upon a time, some publishers suggested, they could cultivate under-the-radar authors and slowly build an audience for them over several books. Now, with few exceptions, books tend to come out of the gate at the top of the best-seller list or be deemed failures.
Sounds somewhat like the essay I’ve been serializing . . . The best quote in the article—well, if you’re a bit self-deprecating and ironic—is this one:
“It is seriously going to be a time for known commodities,” said Esther Newberg, a literary agent who represents blockbuster authors like the thriller writers Patricia Cornwell and Linda Fairstein and Thomas L. Friedman, a columnist for The Times. “I would hate to be starting out in the business.”
Uh, shit. At least the foreign authors we’re publishing are household names, you know? Like Ricardas Gavelis . . . Or, um, Ilja Leonard Pfeijffer, both of whom are destined to be Oprah Book Club pics. (Did I mention how an Open Letter subscription makes a great holiday gift?)
Actually, Motoko loaded this piece with great quotes:
“I cannot conceive of ever saying, ‘We’re not buying more books,’ ” said David Shanks, chief executive of Penguin Group USA, another publisher that has had a decent year with successful titles like Eckhart Tolle’s spiritual guide A New Earth and Elizabeth Gilbert’s Eat, Pray, Love, which has continued its best-seller status on the paperback list. “You might as well put up a sign saying, ‘We’re out of business.’ ”
The prolific Spanish author Benito Pérez Galdós wrote his short novel, Tristana, during the closing years of the nineteenth century, a time when very few options were available to women of limited financial means who did not want a husband.. . .
Pedro Zarraluki’s The History of Silence (trans. Nick Caistor and Lorenza García) begins with the narrator and his wife, Irene, setting out to write a book about silence, itself called The History of Silence: “This is the story of how. . .
There are plenty of reasons you can fail to find the rhythm of a book. Sometimes it’s a matter of discarding initial assumptions or impressions, sometimes of resetting oneself. Zigmunds Skujiņš’s Flesh-Coloured Dominoes was a defining experience in the necessity. . .
In a culture that privileges prose, reviewing poetry is fairly pointless. And I’ve long since stopped caring about what the world reads and dropped the crusade to get Americans to read more poems. Part of the fault, as I’ve suggested. . .
I would like to pose the argument that it is rare for one to ever come across a truly passive protagonist in a novel. The protagonist (perhaps) of Three Light-Years, Claudio Viberti, is just that—a shy internist who lives in. . .
The last five days of the eleventh-century Icelandic politician, writer of sagas, and famous murder victim Snorri Sturleleson (the Norwegian spelling, Snorre, is preserved in the book) make up Thorvald Steen’s most recently translated historical fiction, The Little Horse. Murdered. . .
We all know Paris, or at least we think we know it. The Eiffel Tower. The Latin Quarter. The Champs-Élysées. The touristy stuff. In Dominique Fabre’s novel, Guys Like Me, we’re shown a different side of Paris: a gray, decaying. . .
One hundred pages into Birth of a Bridge, the prize-winning novel from French writer Maylis de Kerangal, the narrator describes how starting in November, birds come to nest in the wetlands of the fictional city of Coca, California, for three. . .
At 30, the Mexican writer Valeria Luiselli is already gathering her rosebuds. Faces in the Crowd, her poised debut novel, was published by Coffee House Press, along with her Brodsky-infused essay collection, Sidewalks. The essays stand as a theoretical map. . .
Fantomas Versus the Multinational Vampires: An Attainable Utopia (narrated by Julio Cortázar) is, not disappointingly, as wild a book as its title suggests. It is a half-novella half-graphic novel story about . . . what, exactly? A European tribunal, Latin. . .