At The Wall Street Journal Anita Elberse writes of publishers’ continued focus on blockbusters.
When a publisher spends an inordinate amount on an acquisition, it will do everything in its power to make that project a market success. Most importantly, this means supporting the book with higher-than-average marketing, advertising and distribution support — which is exactly how Grand Central handled “Dewey’”s launch. To do otherwise would be foolish: If a product like “Dewey” fails to draw readers, Grand Central knows its profitability will be severely hurt. With such high stakes and money tied up in a few big projects in the pipeline, the need to score big with a next project becomes more pressing, and the process repeats itself. The result is a spiral of ever-increasing bets on the most promising concepts, creating a “blockbuster trap.”
