No one buys books (elysian.press)

Article summary

The article discusses the state of the publishing industry, citing a trial between Penguin Random House and the DOJ, which revealed that the industry is dominated by a few bestsellers and celebrity authors. Most books sell less than 1,000 copies, and the industry relies on big advances for celebrity books and franchise authors to fund the rest of their operations. The article also highlights the shift in consumer behavior, with many people opting for online content and subscription-based services. The publishing industry's business model is compared to that of venture capitalists, where they invest in many books in hopes that a few will become bestsellers.

Main themes

• Publishing industry trends
• Book sales and revenue
• Celebrity authors and advances
• Shift to online content
• Subscription-based services
• Industry business models

What commenters say

• The shift to online content and subscription-based services has significantly changed the way people consume books and other media.
• The publishing industry's reliance on bestsellers and celebrity authors is a result of the high risk and low success rate of publishing books.
• Libraries can be seen as a 'Netflix of books' for many people, but their selection may be limited to mainstream titles.
• Some argue that the quality of books and other media has decreased over time, while others believe that there are still many great works being produced today.
• The abundance of content available today makes it difficult for people to keep up with new releases and discover new authors and titles.
• The value of reading and engaging with current authors and media is important for understanding the cultural story and critique of our time.
• The concept of a 'good' book or media is subjective and can vary greatly from person to person, making it difficult to determine what is worth reading or watching.
• The idea that people no longer buy books or other physical media is an overgeneralization, as many people still prefer to own physical copies of their favorite titles.