Why Are Harlequin Profits Declining? [Smart Set]

Smart Set

Welcome to the weekly The Smart Set, where I curate new smart reads about the publishing and media industry. I also point to issues and questions raised, and welcome you to respond or ask your own questions in the comments.

“To seek: to embrace the questions, be wary of answers.”

—Terry Tempest Williams

 

“To seek: to embrace the questions, be wary of answers.”

—Terry Tempest Williams


HarperCollins Acquisition of Harlequin and What It Means for Readers by Jane Litte

This piece at Dear Author focuses on the recent acquisition of Harlequin, but offers us a moment to consider that Harlequin’s profits have been declining since 2010. (However, that is not necessarily why it was sold by the parent company, as Litte points out.)

Why should Harlequin, as one of the most recognizable publishing brands in the market, with a clear target demographic, not be flourishing—especially as genre fiction is selling better than every other category in the ebook/digital age? Doesn’t Harlequin symbolize what everyone says is essential for a successful publisher of the future, with their direct-to-consumer reach and strong reader-friendly policies? Litte offers an excellent, informed overview of why it’s declining (in brief: mass-market print sales are WAY down, plus there’s increased competition), then discusses her fears that HarperCollins will mess things up for the future of Harlequin.

Questions raised:

  • Will Harlequin’s reader-friendly policies rub off on HarperCollins, or will they become more like the rest of the publishing community (that is: not-so reader friendly)?
  • Despite Harlequin’s reader-friendly policies, their digital growth hasn’t made up for the decline in print. Competition from self-publishing is undoubtedly having an impact. How much does Harlequin represent a canary in the coal mine for the rest of publishing? (Additionally, Harlequin faces a lawsuit from authors who claim they were shortchanged on royalty earnings—that can’t help matters when authors are considering how or with whom to publish.)

OMG! What If Barnes & Noble Closes? by Rachelle Gardner

There is a “rumor” that Barnes & Noble may close by the end of year—which is not a rumor I’m inclined to spread, because I think it has no basis and is nothing more than remorseless click bait by its originating author (not Gardner)—but it does pose an interesting thought experiment. What happens if the largest chain bricks-and-mortar bookstore retailer closes? Gardner discusses why it would not be an epic tragedy if B&N ceased to exist.

Questions raised:

  • How critical is the physical bookstore browsing experience to traditional publishing sales? What can it be replaced by? (What is it already replaced by?)
  • How much does the independent bookstore and/or library system stand to gain/benefit from such a loss?
  • What might be some surprising consequences or opportunities presented by the closure?

The Novel Is Dead (This Time It’s For Real) by Will Self

For a couple years now, I have been quoting a Guardian interview with Will Self, where he says, “I don’t write for readers.” (I use it when I teach about the philosophy and strategy of author platform, and try to clear the room first of people who take Self’s position, since platform growth is often driven by reader and community engagement and outreach.)

In any case, this long, florid piece by Self will be no surprise to those of us already familiar with his views. I find myself in the unusual position of both agreeing and disagreeing with him: the literary novel is a specialized interest (we agree), but I also think that’s always been the case (we disagree).

Questions raised:

  • Is the novel really truly dead? (I write this tongue in cheek.) I love this Twitter account that was created in response.
  • Seriously, though: I have noticed lately (in the last year or so), more and more people talking about reading, particularly the reading of literary fiction, as a moral activity, a way of fostering empathy. To me, this is a worrying sign—that people who love the artform of the literary novel are motivated to grant it some kind of moral high ground to “save” it, or that it must be considered to have special abilities that no other medium can match. I’d rather think more broadly and innovatively about how writing or stories can find an audience in a digital era. Is the literary novel itself not a construct of our particular time and place in history, developed to be a certain length and delivered in a certain package? What happens when writing isn’t best delivered between two covers, or even in ebook form? These static forms aren’t well-suited to survive (in the long, long term), and I don’t find it helpful to hold them up as sacred. Maybe the question here is: What are we afraid of happening? Or what is the worst thing that might happen if the (literary) novel is declining?

What questions do you have? Share in the comments.

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Posted in Smart Set.

Jane Friedman (@JaneFriedman) has 20 years of experience in the publishing industry, with expertise in digital media strategy for authors and publishers. She is the publisher of The Hot Sheet, the essential newsletter on the publishing industry for authors, and was named Publishing Commentator of the Year by Digital Book World in 2019.

In addition to being a columnist for Publishers Weekly, Jane is a professor with The Great Courses, which released her 24-lecture series, How to Publish Your Book. Her book for creative writers, The Business of Being a Writer (University of Chicago Press), received a starred review from Library Journal.

Jane speaks regularly at conferences and industry events such as BookExpo America, Digital Book World, and the AWP Conference, and has served on panels with the National Endowment for the Arts and the Creative Work Fund. Find out more.

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