Despite glowing reviews, the book went unnoticed by the media and readers, reaching only 1% of its readership, he wrote. By signing up you agree to our terms of useĪccording to him, The Burning World, the second installment of the series, was released during “one of the most chaotic moments in modern American history,” accompanied by political mayhem and social upheaval. Thank you for signing up! Keep an eye on your inbox. Often, they also invest huge resources in production - and especially in marketing and PR. And when publishers give advances this big, that means that it’s a project that they want to recoup the expenses on the most. Established or big-name authors whose books become bestsellers usually get six-figure advances in their next contract. With these comps, some authors are given bigger advances than others. Comps assist publishers in estimating the volume of resources they should devote to a book and how well they anticipate it will sell. Called the P&L sheet in corporate jargon, this document contains sales forecasts based on comparative titles that help in determining the amount of the author advance, the anticipated print run, and the marketing and promotion budget. They fill up a profit-and-loss forecast prior to this meeting. I was once a publisher, so I also felt icky crunching numbers in Excel when I only wanted to publish a great book.ĭuring this process, publishing editors who are interested in acquiring a manuscript bring it to an acquisitions meeting to discuss the deal with other editors, representatives of the sales and marketing teams, and possible customers. This is evident when publishers do “comps” or a sales forecast using comparative titles. As much as it’s uncomfortable to think about, the book business revolves around profits and sales. Publishing companies are a business, and they need to generate revenue to stay afloat. Arvyn Cerézo is an arts and culture writer/reporter with bylines in Book Riot, Publishers Weekly, South China Morning Post, PhilSTAR Life, the Asian Review of Books, and other publications.
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