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No one buys books

The Big Five publishers primarily focus on high advances for celebrities and franchise authors, with the bulk of their business relying on repeat bestsellers and children's books. Most books sell poorly, with 96% selling less than 1,000 copies, and only a few titles drive significant profits. Advances over $250,000 are rare and often unrecouped. The industry faces challenges from Amazon and fears a "Netflix of books" model would drastically reduce revenue. Increasingly, authors are considering independent publishing due to minimal marketing support from traditional publishers.

Discussion (2)

nirmeout profile image

Quite a missed opportunity for creative people imho. I starting reading fiction a lot more and am noticing it spawning a lot more ideas and generally making my thoughts more centered than other forms of consumption.

cherri profile image

Shame indeed, there are so many great works that people miss out on. And they will likely never make it to TV/Movies so you have to read them