Michael Hyatt is the former Chairman and CEO of Thomas Nelson Publishers, the seventh largest trade book publishing company in the U.S. Additionally, he has worked in the book publishing industry nearly all of his adult life. His own writing has been well received with two of his eight books landing on the New York Times bestseller list. Given his knowledge of the industry, his recent blog post questioning the number of books now being published deserves real thought. The number of titles being published continues to grow at a more rapid rate than the number of books being sold. Last year, US book publishers produced nearly 300,000 new titles. On a smaller level, Thomas Nelson’s most recent year yielded 700 new titles. Of these, around one fourth of the titles created more than 90% of company revenue. Put differently, around three quarters of the titles created less than 10% of company revenue.
So What?
Based on the data and his own book reading experiences, Hyatt argues that
“we need better books not more books.” This argument intrigues me, given my appreciation for quality alongside my thankfulness for a new media world in which nearly anyone can create and distribute content.
- Of all the books you start reading, what percentage do you never finish?
- Do you agree or disagree with Hyatt’s recommendation that the future should feature better books rather than more books? Why? How do self-publishing, new delivery formats, and social media factor into your answer?