The Death of (Another) Format (Rerun)

One more rerun from the PMN vaults. Enjoy!

Episode: "The Death of (Another) Format"
Originally aired: Monday, August 9th, 2010

A couple of months ago, I mentioned my belief that e-readers will quickly make large print paper books obsolete. After careful analysis, mes auteurs, I'm comfortable predicting the death of another format (although I think this one will take much longer): the mass market paperback.

For those not familiar, the mass market paperback is that chunky, newsprinty $4 to $8 paperback you find in airports and grocery stores (in addition to traditional independent and chain bookstores). It's especially popular with genre fiction (fantasy, mystery, romance, science fiction). Historically, they've sold well because they're cheap, lightweight, and don't take up a lot of space; not many people buy them to display on bookshelves or coffee tables.

E-books are already relatively cheap, and they have no weight and occupy no physical space at all. As the cost and heft of e-readers steadily declines, there will be (in my opinion) no reason to buy a mass market paperback rather than an e-book, and I think this will lead to the format's demise.

A lot of people are currently worried that e-books will kill the hardcover, but I find this relatively unlikely. Hardcovers have been status symbols and conversation pieces for centuries, if not millennia. People like having bookshelves full of hardcovers. They like having them signed. They like physically perusing a library rather than flipping through a list of titles on a screen. For these reasons (among others), I think hardcovers will survive the conversion to e-books, although I certainly expect print runs to be reduced and POD to become a more tenable option for smaller publishers.

As for the mass market paperback: granted, the lendability factor will definitely keep it alive for a few more years, and it will probably take decades beyond that before the second-hand market begins to fold. As soon as solid lending or renting protocols are established by the e-book industry, however, I don't see any reason why consumers would rather have a physical, low-quality paperback than a non-physical, high-quality e-book. Can you?

This is Why You Always Meet Your Deadlines (Rerun)

Meetings abound this week, mes auteurs, so I'll be posting reruns today and tomorrow. Enjoy!

Episode: "This is Why You Always Meet Your Deadlines"
Originally aired: Thursday, September 2nd, 2010

In case you hadn't heard, Yahoo! sports columnist Adrian Wojnarowski (say that three times fast) has been sued by Penguin Books for failure to meet his deadline regarding a book about former North Carolina State University basketball coach Jim Valvano. The original manuscript delivery date? August 1, 2007.

Wojnarowski was originally offered a cool $400,000 (of which he received $140,000), but his repeated delays caused Penguin to reduce the total advance to $325,000. Now, over three years later, they've canceled the book and are taking Wojnarowski to court to recover the $140,000 they already paid him.

I wish I could say this kind of story was uncommon, but honestly, the only unusual aspect is the filing of a lawsuit. Books are delayed by months (sometimes years) all the time, and failure to meet deadline (sometimes more than once) is not unheard of. I think, however, that publishers' patience is particularly short in the midst of the recession, so I wouldn't be surprised if they were to become even less lenient about missed deadlines, particularly for books bought for six- or seven-figure advances.

The reasons for delays can range from author laziness to the publisher's disapproval of various drafts (that is, sending them back for rewrites) to changes in current events that warrant substantial revisions (generally affecting only nonfiction). Remember, too, that most advances are cut into pieces: often one installment is paid on signing, another on receipt of the manuscript by the publisher, and occasionally a third on or around the date of publication. If you're getting $400,000 and you've already gotten $140,000 just for signing a piece of a paper, one can see how your motivation might be temporarily shot.

That said: this business is slow enough as-is, so as début writers who always want to make the best of impressions, it's in your collective best interest to get your manuscripts and revisions delivered on time. Always be professional, always be on time, and always ask your agent or editor if you have any questions about deadlines, timelines, or any of the other myriad -lines to which you might be subject.

An Incomplete Education

I love web comics, mes auteurs, more than I love most people and some varieties of whisk(e)y. It should come as no surprise, then, that the intersection of books/grammar and web comics in the Venn diagram of my life is a most wond'rous and magical place.

I therefore present to you my top ten grammar pet peeves—in web comic form!

1. "Alot." "Alot" is not a word. Or, if it is, it refers to an animal that's better than you at everything.

2. Semicolons. I'm not a big fan of them; Kurt Vonnegut once labeled the semicolon a "transvestite hermaphrodite representing absolutely nothing," insisting that "all they do is show you've been to college." If you insist on using them, however, here's how to do it.

3. Mondegreens. Here's a definition; here's a visual guide to some common ones pertaining to English idiom.

4. Misuse of the word "literally." If you're guilty of this, I'll literally send you a strongly worded e-mail/figuratively explode.

5. Confusion of its/it's. Especially on the Internet.

6. Misuse of apostrophes in general. Thankfully, there is a cure: flowcharts.

7. Misspellings. Here are ten you should avoid.

8. Internet comments. This is more of a video than a comic, but it gets the point across: 99.9% of the people on the Internet are functionally illiterate, some of them hilariously so. (I've spent countless hours laughing at seething, near-incomprehensible rants on YouTube.)

9. People who think they can out-grammar me. Sometimes I lay traps for them just for fun.

10. People who smugly correct other people's grammar. It's just kind of a jerk thing to do. Me? I'd do it subtly via blog post.

Also, in case you were curious:

Created by Oatmeal

Many thanks to Hyperbole and a Half, Dinosaur Comics, and The Oatmeal for their fantastic comics.

Happy Martin Luther King, Jr. Day!

I'm off today, mes auteurs, and I hope you are, too. Come back tomorrow for another brand-new post!

Revenge of the Round Up 3: Rounduppance

For the first time in 2011, round up day with Laura:

It's a whole new year, friends and foes, and the best way to celebrate that is by judging others for things they've done and opinions they hold. Yes, I know: welcome to America.

Are you a parent? Well, you're probably doing it wrong! Is your 7-year-old reading? That could be terrible, or just okay. Are you a Chinese mom? You may be the devil, or the most supportive parent out there. Are you an aspiring biographer? Here's how you should do it. And please, don't forget to manipulate Amazon's rankings.

In addition to being judgey-judgersons as we enter this brand new year, we should also be tech snobs. Noses up! Time to realize how e-books will help publishing. Be sure to share your snootiest Kindle books, but don't run out to buy a new reader—it seems like a new iPad and a new Nook are coming our way soonish.

Now, some old things are nice too. Like this crazy "book" format. There's a lot of book nostalgia floating around, which you can assuage with a literary dinner party menu. All that paper sure is delicious. Or, if you're eating alone, you can eat and read the first mystery novel, or do some crowdsourced transcription. Hell, you could even pull a Jack Kerouac and write to Marlon Brando. Or, you know, someone alive. Either/or.

But enough about the past. On to the future! The future filled with neuronovels, and empty of columns by Tiger Woods. A future with a new Huck Finn, which some people like and a lot of people don't. A future with a completely necessary Julian Assange memoir, because what that man needs is more attention. A future with Gatsby in 3-D, a Salma Hayek-backed Wicked miniseries, and Eric Bana as Abraham Lincoln: vampire hunter.

So far so good, 2011. Keep up the good work, and see you all next week!

A Lesson on Brand Management

As I've mentioned a few times before, mes auteurs, publishing is a strange industry in many ways. One of the ways in which it differs from other enterprises is that the author of the work, not its physical manufacturer, is the brand name. For the most part, no one cares who publishes a given book; they only care about who wrote it and what it's about.

Part of this is intrinsic to the industry: just like with movies and music, the writer(s)/actor(s)/artist(s) is/are the source of the desired material, so regardless of whose label is affixed to those names, consumers will make their purchases based principally on the artists involved. As a culture, we care about Johnny Depp more than Lionsgate, Jay-Z more than Def Jam Recordings, and Suzanne Collins more than Scholastic.

Another part of it, however, is due to publishers' treatment of their own brands. Many include their logos on the spines and back covers of their books, but never the front (Penguin Classics is a notable exception), and publishers with myriad subdivisions and imprints further confuse consumers by including those logos but not the logo of the parent company.

How many of you knew that Dutton, Gotham, Prentice Hall, Riverhead, and Viking were all part of Penguin? That Knopf, Crown, and Ballantine are all Random House (and that those groups contain their own smaller imprints)? That Grand Central (with its imprint, Twelve) is Hachette's, as is Little, Brown & Co.? I could go on, but you get the point.

I think a significant problem for publishers in the industry today is a lack of brand consolidation. A lot of it is because individual imprints have their own specialties and want to maintain their identities apart from their parent publisher: Threshold (Simon & Schuster) specializes in conservative politics and nonfiction, Tor (Macmillan) in science fiction and fantasy, &c. This is all fine and good—or at least, it has been—but with companies like Amazon and Barnes & Noble beginning to dominate the market, publishers will have to change the way they play the game.

As Sarah Lacy at TechCrunch notes, Amazon is preparing to take over the role of publisher in the world of tomorrow. And in that hypothetical world, I think Amazon's name would be just as important as most of its authors'.

Unless traditional publishers can reinforce their names and reaffirm their relevance over the next five years, I don't see why anyone will prefer a Random House book or a Penguin book over an Amazon/Kindle book. Authors will always be major brands in publishing, but I think publishers will need to increase their visibility as well. If they continue to bank on running the show from behind the scenes, it's my opinion that it will be to their long-term detriment.

Two Households, Both Alike in Dignity

The sample sizes aren't quite identical yet, folks (232 votes this round compared to 342 last round), but currently 54% of those of you who responded own an e-reader, as opposed to only 42% in June 2010. Granted, this is an entirely unscientific survey, but it seems to me that e-reading is on the rise. Not that we couldn't have guessed this already.

Speaking of e-books, I thought I'd take a moment to rehash the two primary ways they're sold: via either the agency model or the wholesale model. How does this affect you? Well, let's just say it's in the area y'all have in common with Queen Elizabeth II. That is, your royalties (/royal teas).

With jokes like these, I will be the best/most awkward dad ever.

The Agency Model

The agency model of e-book sales is the one you've heard about most recently. As opposed to the previous model (see below), the agency model assumes that the publisher is selling directly to consumers, with retailers like Amazon serving as intermediaries. Therefore, the publisher sets the the price the consumer will pay, and the retailer gets a cut for each copy sold.

For example: a publisher prices an e-book at $10.00. They sell it to consumers via an on-line retailer like Amazon, and Amazon gets a 30% cut. Each time a book is sold, Amazon gets $3.00 and the publisher gets $7.00. Those $7.00 are used to pay the publisher's overhead (everything from utilities and the purchase of new software/equipment to employee salaries and marketing budgets) and to pay you, the author.

Depending on your royalty agreement, which may range anywhere from 25% to 50% of net receipts, you'll get anywhere from $1.75 to $5.00 per book (depending on the royalty rate and the publisher's definition of net receipts). As far as I know, the going royalty rate is stuck down at around 25%, but many organizations (including the Authors Guild) are trying to increase it.

The Wholesale Model

The wholesale model of e-book sales is the method that has been used almost exclusively in the industry for the past infinity billion years and is ported directly from the world of physical book sales. In this scenario, publishers sell e-books directly to retailers, who then have the right to re-sell them to consumers for whatever price they want.

Again, let's imagine a $10.00 e-book. The publisher sells it to an on-line retailer like Amazon at roughly a 50% discount, at which point Amazon can sell it to you for whatever price strikes their fancy. Amazon could sell it for $5.00 and make no profit, they could sell it for $10.00 and make a $5.00 profit, or they could sell it for $0.99 and take a $4.01 loss.

Regardless, $5.00 flows back to the publisher to cover overhead and pay you your royalties. This time, however, there are $2.00 fewer floating around to cover those expenses, and depending on how your royalties are calculated, you'll only get between $1.25 and $2.50 (there's no question about whether the retailer's commission figures into net receipts, since under the wholesale model no such commission exists).

Granted, your royalty rates will probably come in closer to the $1.00 – $2.00 per book end of the spectrum for a $10.00 e-book, but $0.75 to $1.00 difference per book adds up quickly if you're moving a lot of units.

While I don't imagine a lot of publishers do this, it's possible for them to get into trouble if they're selling physical books via the wholesale model and e-books via the agency model. Because the publisher controls the price of one and the e-retailer controls that of the other, you can get into situations where the e-book costs more than the physical book, and in those situations consumers are (rightfully) angry.

Not that it costs $0.00 to produce an e-book, mind you, but it does cost substantially less than producing a physical book.

After hearing this and e-self-publishing success stories like that of J.A. Konrath, your first reaction may be: "Eff it, I'm putting my novels up as e-books on Amazon right now!"

Not so fast, Speed Racer. Unless you're a near-professional cover artist, e-book designer, and editor (in addition to your authorial skills), you're going to need help producing a quality e-book, and you're almost certainly going to have to price it below $9.99. Without the seal of approval of a traditional publisher—which, contrary to popular belief, is still useful social currency—you'll have a hard time selling your 150,000-word fantasy e-epic at $12.99. Especially if no one knows who you are yet.

So: while I encourage you to explore all the e-options available to you, keep these two models in mind when seeking traditional representation for our newest and least traditional format.

Tomorrow: a lesson in brand management!