…to not seek your fortune in the publishing industry.

The tighter things are, financially, for the publishers, the less adventurous they’re going to feel in terms of seeking out and promoting new talent. The smaller their profits are, the less they will be inclined to share those profits with the authors who actually provide the product they sell.

Our current recession isn’t helping anybody in this profession. I definitely feel that the ricing price of gas (and the resulting rising price of everything else) is biting into me from both directions, as people have less to spend on discretionary entertainment and what they do spend doesn’t go quite as far… but, on the other hand, I do have some advantages:

1. I’m only trying to support myself, not multiple layers of management.
2. As people have less money to spend on buying books or magazines, they spend more time looking for free alternatives, which can give me more ad revenue. If these people become long-term readers, I have a chance at earning their “book dollars” when they become available again.

Of course, my position has its disadvantages. I don’t have a bunch of capital or assets to sell off if I start to run into trouble. I don’t have a bunch of divisions to spread my losses over. I can’t lay off my left hand in order to save money. In other words, it would take a much smaller wave to founder my little boat than it would to sink one of the great big ships.

The big publishing companies are likely to make it through their current crisis in some form on the strength of their inertia, of their sheer mass alone. People might be laid off. The authors will certainly continue to see smaller percentages of smaller sales reflecting on their royalty checks. But the companies will survive.

Good news for readers, but cold comfort to anybody trying to make a living working for them.

If you enjoy reading, please consider a financial contribution.