Good Financial News Where We Least Expected It


Things are looking up for the publishing industry: In 2010, publishers reported a net revenue of $27.9 billion, or a 5.6 percent increase over 2008, when the industry’s obituary was written over and over with dismal sales numbers and projections. The number of books sold also increased by more than 4 percent since 2008 — crucially, that statistic includes books in all formats. E-books and readers were the major force behind the growth, it seems, and a growing market for young-adult fiction also buoyed publishing. Zombie industry comes crawling back from the dead, recaptures society by infiltrating tiny computers we all carry around with us everywhere — we’re writing up the book proposal right now. Maybe Robert Pattinson can play the president of the American Association of Publishers in the movie version.

Publishing Gives Hints of Revival, Data Show [NYT]