WSJ Article – “Betting Big on Literary Newcomers”

November 21, 2015

Well, well, well! It seems that the major publishing houses are once again reconsidering LITERARY fiction.  Like old times, eh? Their looking for blockbusters written by undiscovered people.  That means they are willing to gamble lots of money, i.e., large advances on novels that could fizzle.
Heavy bidding is ratcheting up the price of  some advances.No smart, no art. “It’s the business of hunches.”

“The Next” received an advance of $1million – the book is about four adult siblings whose anticipated inheritance has all but evaporated because of one brother’s bad behavior. This is a natural winner.

There was “THE Goldfinch”.

“All the Light We Cannot See.”

“Homegoing” about seven generations – like “Roots”

The agents must feel they have the next Norman Mailer on their hands.

But will the agents have new eyes or same old-same old? The article reads: The publishing industry’s hunt for the next blockbuster has given rise to an elite new club: the million-dollar literary debut.”

When I read the word “blockbuster,” I think the novel must be 600 pages. But must it be a toe cruncher?

I’m finishing the first editing of “The Romantic Imperative.”  Then  back to the editor for her second turn. Then into my hands for the final edit. Then off  and running to the agents. Another literary novel.