An Interesting Article from the Financial Times
Authors Guild members experienced a 42% decline in revenue in 2019.
I was going to share a quote from an article in the Financial Times, The online tactics that help novels go viral, but when I pasted the quote there was a threatening message about copying articles.
I assume a single quoted sentence would have been fine, but out of deference to them, I’ll summarize the point. Authors Guild members experienced a 42% decline in revenue in 2019. (Note: I wasn’t able to verify the number anywhere but the Financial Times, but I’ll accept it as accurate.) The implication is that online publishing has changed things for many traditionally published authors.
42%?
That’s a significant drop. What will the 2022 numbers will look like for the Authors Guild members? Particularly in light of recent reports about the increased cost of paper?
Paper price increase puts pressure on publishers
Book prices set to rise as production costs soar, say UK publishers