Literature World Updates: 8/4/2023
Because you need to stay updated.
A quick update for you about some things in the literature world worth paying attention to. Always be on the lookout for patterns. Today’s pattern: book giants are suffering. Likely result: it is even harder to get traditionally published in the future.
Harper-Collins closes “Inkyard Press”, an imprint known for children’s books, since the sales of children’s hardback books were down a whopping 12.5% in 2022.
Penguin Random House lay off 60+ staff members after giving out “voluntary separation offers” to veteran employees.
Barnes & Noble Education is on the edge of bankruptcy, with lenders funneling money in to keep the giant alive. Turns out when Pearson-Prentice-Hall paywalls your books, students will just torrent. Don’t know how they didn’t see that coming.
PeeWee Herman left behind a draft manuscript of his memoirs. We’ll miss that dude.
Independent Publisher Group (IPG) reduces a significant amount of their staff, especially in the Chicago Review Program. Moreover, their total title count goals for the year were reduced by half.
What does total title count goals mean in this context?