Why The Economist is Beating Time and Newsweek

Image from The Atlantic's "The Newsweekly's Last Stand" by Stephen WebsterThere’s nothing older than a day old newspaper, or so the expression goes. Nothing, that is, except for a week old newsweekly. Both Time and Newsweek are trying to remain relevant (and avoid the fate of US News & World Report) by offering more in-depth analysis. But, as Michael Hirschorn says in his excellent article in this month’s Atlantic, they are a decade late.

Hirschorn looks at The Economist‘s somewhat staggering ad revenue which saw a 25 % increase last year (as opposed to Newsweek and Time which, he says, dropped by 27 and 14 percent, respectively). The secret to The Economist‘s success? Well, it’s complicated (exemplary branding, a global recession) but the short answer, and one we might learn from is this: The magazine does not try to be all things to all people. It fills a need. Its promise is clear. In Hirschorn’s words, “niche is sometimes the smartest way to take over the world.” (Read the article here)

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Stanley Fish on Henry Louis Gates

Stanley Fish on Henry Louis GatesClick through to read the rest.

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NYT General Counsel Says Aggregation Isn’t Stealing

The Huffington Post“Someone is going to sue the Huffington Post” said Joshua Benton, director of the Nieman Journalism Lab at Harvard University. “It’s not just about the volume of the content that it appropriates, it’s about the value.” Since March when that article ran in Time magazine, Benton’s position on “distributive journalism” has been a subject of great debate online (and in our office! Our own author Gary Vaynerchuk takes on the subject in his book Crush It!). Today the Nieman Lab points to UCLA IP Law Professor Doug Lichtman’s podcast on fair use in which he interviews NYT General Counsel Ken Richieri. Diverging from other large media companies in his assessment, Richieri concludes that aggregation may constitute “unfair competition” but it really isn’t about copyright:

I mean, I think the big issue online and the pressure publishers are feeling is that publishers online are having a hard time replicating the economics that they saw offline. And many of them are looking at that through the lens of copyright…. I think where I would just draw a distinction is I am not so sure that copyright is really the culprit in a lot of this…that that’s an imperfect lens and an imperfect remedy.

Listen to the podcast here.

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The Future of Le Livre?

Leave it to the French to give us such a civilized vision of how the physical book and electronic book might someday coexist. While today we are being asked to choose between e-books we download online and physical books we might buy after a delightful conversation with our local bookseller, perhaps the future will marry the two experiences, n’est-ce pas? Check out this short film, recommended by The Tattered Cover’s Joyce Meskis:

Editis Film

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An Author Walks In to a Bookstore (for a signing)

signingThe local bookstore signing – something every author wants and yet few know how to handle. We talked to a bookseller, let’s just call her Bookseller X, to find out how to make a local event work…and keep your local booksellers happy.

It’s finally happened, your book has been published, and you’ve managed to set up a signing at your local bookstore. Congratulations! You think publishing was the tricky part? You’re only just getting started. Here are some things to think about as you get ready for your Big Day:

1) We are investing in you. Invest in us!

When a bookstore agrees to host a reading/signing for you, it’s more than just slotting you into a schedule: it’s an investment. We are agreeing to invest both time and money into you and your book by ordering in copies, giving them prime shelf-space, using staff time to plan and execute your event, etc. So invest right back! Use your own list of contacts to help bring people in. If you’re willing and able, help out with promotional materials like posters or flyers, or maybe even refreshments at the event. Local author events are at their best when the authors have invested in them just as much as the bookstore has.

2) Don’t spread yourself too thin.

More is better, right? In terms of events, this can be dead wrong! You may be tempted to pepper your area with signings and readings, trying to get the most exposure you can. But keep in mind that unless you’re in a huge metropolitan area, you may just be handicapping your own events. Most cities only have so much of an audience for author events, and if you have too many too close together, attendance and sales will suffer for it. Some bookstores will require that, if you are to be hosted at their store, theirs is either the only or the first event. It’s not because we’re greedy, I promise! Rather, we want to have the best event we can (see #1!), and if you’ve already signed at two other bookstores plus a couple of Costcos, it’s not likely to go well.

3) Please don’t second-guess the bookstore.

We know you want to sell a ton of books. And maybe you’re doing #s 1 and 2, investing in your event, making sure that it’s a big launch, calling each and every person in your high school yearbook, inviting your entire extended family including third cousins twice removed. Make sure your bookstore knows exactly what you’re doing to help out, and then, step back. Over the years we’ve come to know our stores and our events, how many people to expect, how many books to order, how many staff to have on hand, what kinds of formats work best for which kinds of books. It’s our job, after all, to make sure events go well! If you think your bookstore is underestimating your event, then the best thing to provide them with are facts: How many people did you invite? How many did you hear back from? What organizations are you connected with that might provide big crowds? Are your friends big spenders? Are your family coming to buy every book they can get their hands on? Let us know, by all means! But don’t expect us to necessarily change our orders or logistics, and don’t be offended if it doesn’t happen. It’s our job to get it right; trust us!

4) Stay calm; do not panic!

The big day is approaching, there are a million little things that could go wrong, and you’re up every night dreaming about them. Take a deep breath, and remember: it’s our job to get it right! Your event manager has probably not only thought of each and every one of those million little problems, but dealt with 99.99% of them. You’ll probably be tempted to call or email (possibly several times a week, if not several times a day–yes, this has happened) each time you think of a new disastrous possibility. Don’t! If you can’t resign yourself to trust your bookstore, then try this instead: start a running list of things you’re worried about. Put down as many things as you can think of. Give yourself time and permission to get a really good list going. Then, let it sit for a day or two. Take another look. Is it really likely that a plane will crash into your signing? Probably not, cross that one off the list. If you feel like you have legitimate concerns, concerns you’ve thought about and considered, then send your event manager an email detailing them. Just one. Yes, an email, not a phone call! Not only is it less intrusive, but it allows your event manager to consider it at their leisure, when they have time to focus on it. Don’t demand answers or immediate action, but rather put it out there for their consideration: “You’ve probably already dealt with/thought about this already, but I was a little concerned that…” Chances are you don’t need to worry about any of it. But if you absolutely can’t let it go, try to make it as easy for the event manager to understand and respond as possible. If you call five times in three days, or if our email boxes overflow, you can bet we’re going to be more frustrated than receptive!

5) Enjoy your big day!

Let go of any expectations, worries, hopes and fears. If you’ve done 1 through 4, then you’re bound to have the best event you can expect, be on good footing with your local bookstore, and give your book a nice bump!

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Note to Self

Jessica Hagy gives us a little reminder about the difference between accumulation and curation…

Whether you’re a blogger, an editor, or a flea market fanatic, it’s important to have a discerning eye.

Accumulation & Curation by Jessica Hagy (Indexed)

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Forget About Viral. Just Make It Great!

I have a bee in my bonnet about the chronic use of the word “viral.”

“Let’s make a viral video,” I keep hearing. To me, it feels like saying “Let’s publish a bestselling book” or “I’m going to be popular.”

I keep wanting to shout from the rooftops “just make it GREAT!”

Olympus has done just that with this great video.

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The Publisher of The Friday Project Talks About UK Side of the Industry

Scott_FridayProjecttfp_whiteBG_rgbAs part of our ongoing Q&A series with people in publishing, we talked to one of our international colleagues, Scott Pack, publisher at The Friday Project, an imprint of HarperCollins UK in London.

Q: We have to ask – why The Friday Project?
A: There was a significant, if somewhat tongue-in-cheek, social movement a few years back which called for everybody to be given Friday off work. By making the weekend longer we’d all be happier. The founders of The Friday Project (TFP) subscribed to that notion and the name was chosen.

Q: You’re the publishing arm of HarperCollins in the UK but you function pretty independently. What’s the biggest difference between the US and UK publishing industries?
A: On a commercial level it is the discount. Retailers in the UK can, and usually do, discount books significantly from publication. So you can usually find the biggest book of any given week at half price in the shops. Some people think this is a bad thing but anyone who has ever been hooked by a 3 for 2 promotion (probably the biggest vehicle for selling books over here) can testify that it definitely works in terms of selling books. Elsewhere, I don’t think we have any one influencer that can make a huge book overnight. A wonderful New York Times review or a mention on Oprah can often create a bestseller in the US but there isn’t anything with that impact here now that Richard & Judy have left terrestrial television.

Q: What’s the hot trend right now in the UK? Cat books? Vampires? What should we be watching for?
A: There do seem to be a lot of vampire books around, and zombies. Right now every publisher and his uncle is rushing out a Michael Jackson book (we are not, I should add). I guess there are always mini-trends or waves of interest but ultimately the only consistent trend is the readers’ love of a great story.

Q: What do you wish every US-based author knew before getting his or her book published in the UK?
A: That there are a hell of a lot of ways you can promote a book without leaving your seat. If you make yourself available through Skype, blogs, instant messenger, Twitter and really put some time into online promotion you can reach many UK readers even if your publisher doesn’t have the cash to fly you over. Also that we really don’t care about the baseball or basketball scores over here. Not a bit. Your excitement is not ours to share.

Q: eReaders. We can’t do a Q&A without asking about them. Love or hate? Or both?
A: Love them, in all their forms. At present the Kindle isn’t available over here and Amazon doesn’t seem to be in any great rush to change that. To be fair, I think it is down to the fact that they will need to have an option for the whole of the EU, not just the UK, before they go live. That means that the Sony Reader has a genuine foothold here. But there are still issues over pricing, availability and content for eBooks that need to be resolved before they will really take off. They are part of the future and we need to adapt to that.

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Logomaniacs, Verbolatrists and Epeolatrists Rejoice! The world’s largest thesaurus is coming to town.

Thesaurus-adAfter more than 150 years at the top, Roget’s Thesaurus has finally met its match. The Historical Thesaurus of the Oxford English Dictionary, which comes out this August, is 44 years in the making and will be the largest thesaurus when published.  The Historical Thesaurus not only has over 800,000 meanings but it also provides a chronological history of words. So now you can see just how slang words became slang or how curses became curses. However, the cut-off date for words was 2003 so don’t expect to see ‘tweets’ in the collection. Nevertheless, the Historical Thesaurus allows for a remarkable insight into the cultural growth of English speaking people.

    Check out the history of the word Trousers (which also seems to be a case study on Victorian prudishness) here or click here  to learn more about the tumultuous history behind this gargantuan thesaurus

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Look Before You Leap: What Record Companies (and Book Publishers?) Can Learn from Merge Records

Merge_300NPR’s piece about the 20th anniversary of indie record company Merge is fascinating and possibly instructive. While large record companies (and book publishers) have overextended themselves and now need to scale back, Merge has succeeded by choosing new artists carefully and marketing them frugally.  And even when they have hits (Spoon, Arcade Fire) they continue to warn their artists to keep expectations in line with reality. The result is credibility with critics, music fans and artists alike. 

 So the question is: can Book Publishers follow suit?  In a time where creative ideas are welcome, perhaps we need only look at Merge Records to realize that trust, cautious decision making and staying grounded may lead us in the right direction.

Click here  to read the article or here to listen to the intriguing piece.

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