Interesting take by agent Clare Alexander, on the new climate for the old chestnut of whether it's better to be published by one of the big, mainstream houses, or one of the independents:

In The Bookseller, talking about the fact that the standard smallish advance for a new author from the big houses is now so small that there's little advantage in signing with Megabooks for that kind of sum, she said this:

"A modest offer puts an author within easy reach of the independent publishing sector, and it could be argued that a book will get more attention with them than appearing way down the list within a bigger house. What's more, smaller houses are more likely to submit a book that is not a major lead for those vital prizes and promotions, while reps might think it worth subscribing [= pushing at bookshops].

There is no doubt that the market is tougher than I have ever known it. There is also no doubt that over the past decade or so some advances had often ceased to represent proper value as an investment for the publisher. In this climate, it has become harder for an agent to argue a financial value for reputation when it is not backed up by sales. But there is a real danger that the big corporate publishers polarise their activities between the big brands that, largely, only they can afford, and the smaller books that get no attention whatsoever.

In these circumstances, an author would be well advised to head to the independents.

For an agent, helping their author to navigate uncertain times, it is more than likely that the established authors will be moving in one ­direction, while developing talent will be going the opposite way."

Full post here:

http://www.thebookseller.com/blogs/90216-poles-apart.html

Emma

Er, wow. Not sure whether that makes me feel better or worse about the whole thing!

Fun times

Gaius

Thank you for posting, Emma. That really is very interesting.

This sounds very similar to what my agent's been telling me lately. Like Gaius, I'm still not sure whether it's good news or bad!..

Good news for the independents though.

I'm still not sure whether it's good news or bad!..

In my experience, when you get a proper publishing person properly analysing what's going on, it never comes down to good or bad, only a stituation which may be good or bad for you, depending on your particular circumstances.

Yes, good news for the indies, and for writers who they might buy: more confidence all round has to be a good thing.

Emma

I suspect some of the indies may find themselves with some big sellers on their hands in the comming year. But they will have to make the necessary investments in time and money vis a vis distribution ie discounting and publicity, two things they are notoriously bad at, if they are to make hay etc.
Those that do will reap the rewards, I'm sure.
HB x

In this climate, it has become harder for an agent to argue a financial value for reputation when it is not backed up by sales.

This is interesting too - should spell the end of big advances purely to bag a name author for prestige's sake alone.

Emma