Borders Bankruptcy Fallout: Who Wins, Who Loses?
Borders’ filing for bankruptcy doesn’t just signal the closing of many bookstores. The news also signals pain for employees, publishers, readers, and those who enjoy book reviews.
Edward Nawotka analyzed the impact from Borders’ bankruptcy in a post at Publishing Perspectives, which lists the losers – and the winners – surrounding one of the biggest publishing stories of the year.
MID-LIST AUTHORS: Without Borders’ previous buying power, publishers are going to lose hundreds, if not thousands, of pre-orders per title. This is likely to eventually lead to smaller print runs and smaller advances, particularly for mid-list authors who would depend on Borders taking stock of one or two copies of their titles. If Borders was good at anything, it was serving the mid-list — they always were somewhat more “literary,” if only in reputation, than their big rival — but that role is going to be significantly diminished, particularly as they are likely to become even more conventional and conservative in their buying strategies to compete with other big box retailers.
Check out the whole post at Publishing Perspectives.