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Why Are Publishers Failing?

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Here are more conversations taking place around the net. I’ll be mostly offline until January 5.
Merry Christmas and Happy New Year!

  • Laurence Osborne, writing in the Forbes magazine, gives his opinion on why book publishers are currently failing:

    A powerful editor at one of the big houses said to me last week, “Very little of the recent cutbacks and consolidation are the product of the economic meltdown. They are the result of several years of bad decisions.” Quite so. But what are those bad decisions?

    Industry insiders provide a depressing catalog: a failure to acquire the kind of franchise authors now topping the bestseller lists, a lack of editorial insight and supervision (resulting in longer, sloppier books that bore readers stupid), extravagant author advances, agents all too happy to sacrifice the long-term interest of authors for short-term profit, incompetent management at the top and a lack of books that have commercial impact.

  • Need a last minute Christmas gift?
  • Will The Tale of Despereaux movie delight or disappoint? Or will you stick with the audio version?
  • PW asks: Do authors really need a website?

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