Short post today, gentle readers. A few days ago, I received an e-mail to PMN that asked that age-old question: how many books earn out their advance? The answer is, in short: not a lot.
According to the New York Times, roughly 70% of titles do not earn out their advance. This number is more or less in line with my estimate (mine is slightly higher, 75%+).
However, some of you will be glad to learn that this is not necessarily the case for all books—just certain categories and genres. Justine notes in her posts that children's/YA books and romance novels are exempt more often than not, and while my experience in those areas is not nearly as extensive as hers, I'm inclined to agree.
Um... happy Monday?