The day before yesterday or thereabouts, Borders Books announced bankruptcy and the closure of more than 200 superstores, following its announcement last month that it had deferred payments to its creditors, including the monies it owes to my publisher. Yesterday, one of the largest Australian bookselling chains announced bankruptcy. Last week, the Canadian distributor for my books [and all those titles released by Macmillan and its subsidiaries] announced bankruptcy and immediate shut-down. And now, Walmart has removed the already small F&SF section from at least some [if not all] of its stores. The circulation numbers of print versions of F&SF magazines are generally down once again, as are the paperback book sales. On top of that readers are complaining to me that they either can’t get ebook versions of my work outside the USA… or that there are only a few titles available.
Needless to say, this is a worrying time for authors, especially new authors or those whose recent sales numbers are considered “borderline” by their publishers.
What tends to be forgotten in all these stories and depressing financials and figures is that, at least in the United States, the past fifty years have been either a golden age in publishing and writing [that’s if you’re an optimist] or a prolonged “bubble” [if you’re a pessimist]. Prior to a century ago, only a few handfuls of writers could make a living strictly from their writing. Even some thirty years ago, Isaac Asimov calculated that there were less than 500 U.S. writers making a living wage in speculative fiction, and most were barely scraping by. Over the past two decades, I’d wager that there well might have been ten times that number.
Will that level of “prosperity” continue?
I hope so… but I’d have to say that I have my doubts… for a number of reasons. First, despite fluctuations on a year by year basis, surveys indicate that the number of young people reading books continues, overall, to decline. Second, the number and geographic range of book sales outlets is also declining, and this will be accelerated if Borders Books fails, which, unhappily, is looking more and more likely despite the attempt to remain in business through bankruptcy restructuring. Third, the rate of high-level functional literacy is also declining. Fourth, the range and scope of other entertainment options, particularly visually-video-oriented and interactive ones, is increasing. And fifth, the amount of uninterrupted time free for reading is also declining.
Now… I’m not saying that reading or books will vanish, but unless these trends reverse dramatically, book readership will continue to decline markedly, and eventually, so will book sales, more than the annual declines over the past two years. Some of this longer-term decline will be masked when more and more baby-boomers retire, because they will have more time to read, and most likely will, but as they die off, they’re not likely to be replaced, and book sales will decline more significantly.
So… for those young writers who are selling well now… I’d recommending saving a lot more than you are at present because the good times never last forever.




