Recession Report

I received the following email yesterday from Josh Henkin (author of Matrimony) about how the recession has hit the publishing industry. Good to keep in mind for your last-minute holiday shopping.

Dear Friends,

As many of you know, the book industry is in serious trouble.  It was in trouble when economic times were good, and now that times are bad, things have gotten really precarious.  Book sales across the industry are down as much as 40 percent, publishing houses are laying off people and cutting imprints, one big publishing house announced that it was no longer reading new manuscripts, and a major chain bookstore is on the brink of bankruptcy.  Many of these problems have been a long time coming (the decline of newspapers and especially of book review sections has been a big blow, as has the closing down of many independent bookstores), but in recent months the problem has become especially acute.  I don't mean to sound alarmist, but these are alarming times.   What's at stake is the future of books, and of reading culture.  Although books will continue to be published (Stephenie Meyer and J.K. Rowling will publish their next books), for everyone except a handful of bestselling authors, the future is far more uncertain.  What's at stake is the wealth and diversity of book culture.  Many classics (books we read in our English classes in high school and college, books our children read or will read), imply wouldn't be published by today's standards and, if they were published and didn't sell well immediately, they would be removed from the bookstore shelves.  This is why it's so important that you buy books for the holidays.  There's a website dedicated to this enterprise, http://www.buybooksfortheholidays.com, which you might want to check out, and publishing houses are running ad campaigns focused on holiday book-giving.  You really can make a difference.  A typical paperback novel costs less than fifteen dollars, far cheaper than a necklace or a sweater or dinner at a nice restaurant.  I would especially encourage you to buy books from independent bookstores, which are in the most serious trouble and which promote books that go beyond the usual bestsellers and where the employees really know about books.  Independent booksellers are the unsung heroes in what are very difficult times.  Thanks for reading this, and have a happy and healthy holiday.

Best,

Josh
http://www.joshuahenkin.com

While it can sometimes be challenging to buy books as gifts, as reading taste is intensely personal, I do applaud and support this effort. I've spent some time this holiday wrapping gifts at my local independent bookstore to benefit a local literacy charity, and it's been heartening to see so many people in the store. Keep it up!!

Finally, if you're looking for an inexpensive (though not necessary author-friendly) ways to find books, check out this post from Manhattan User Guide for some sites to check out.

Comments

[Mary]

Books and book store gift cards are about all I'm giving for gifts this year. The same as every year.

I have a question: does a gadget like the Kindle have a negative impact on authors?

[amy]

This is alarming, and depressing, news indeed. It's amazing how the recession is -- or will -- affect almost every aspect of our lives. Or life as we know it!

For anyone (with children) in New York City, I would highly recommend the independent Bank Street Bookstore (near Columbia) -- for children, teachers and parents.

[Gayle]

I doubt that Kindle is author-unfriendly... I'd have to assume that Amazon has negotiated rates with the publishers that compensate authors for downloads. It's the bookswapping and used bookstores (which, believe me, I go to all the time) that hurt authors, because they don't get anything out of those sales.

[Mary]

Thanks Gayle. I've been researching Kindle and think it's pretty cool but I wouldn't want to invest $$ in something that would end up penalizing authors.