No one buys books
No one buys books
This article summarizes the author’s findings from the transcripts of the Penguin Random House vs. DOJ antitrust trial, revealing insights into the publishing industry’s financial realities. It discusses how the industry relies heavily on big celebrity advances, repeat bestsellers, and children’s books, while most books don't generate substantial profit. The article also highlights the challenges faced by authors without significant platforms and the impact of digital platforms like Amazon on the industry.
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what a fascinating breakdown of the book industry.
this puts a lot of the legal battles against the Internet archive (and all libraries really) into a new light: the industry is bleeding out and fearful of new technologies.
while they do provide writers with advances, those tend to go to franchises and celebrities.
it's a difficult problem to untangle, and while technology might pave the path forward and improve access (much like netflix did), but we will then see further concentrations of wealth, with most of that going to the platforms instead of artists and authors.
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