Amazon has unveiled its Kindle Lending Library. Prime subscribers can now “choose from thousands of books to borrow for free including over 100 current and former New York Times Bestsellers – as frequently as a book a month, with no due dates.”
“Bertelsmann’s 7% decline in 2016 revenue was due entirely to a drop in sales at Penguin Random House. The lack of a big new bestseller hurt results at the company, and it divested some smaller divisions in the year.” For those interested in inside baseball, Publishers Weekly takes a look at how the world’s 50 largest publishers are faring. (TL;dr: Although their total revenue topped $50 billion, more than half of the list’s publishers reported sales declines – oh, and Harry Potter still really, really sells). As a counterpoint to all that capitalism, read our own Edan Lepucki‘s survey of self-published authors.
The worst thing about owning your own bookstore? According to Garrison Keillor, it’s that “you do not get a 10 percent discount when you buy books. I don’t know why. It was explained to me once, and I didn’t understand. I mean, I’m the owner, right? But no, that’s not how it’s done.”
“She didn’t even want to be anything. She just wanted to be able to sit in a room and not feel tortured by it, which is sort of the human condition in general. Eileen isn’t dreaming of leaving home and making it in the big city on Broadway. She just wants to go and eat a banana, you know?” Ottessa Moshfegh on her new novel, Eileen, for The Rumpus.
“The power and meaning of the written word are central to the complexities we face today—both as a nation, and globally. To my mind, freedom of expression is a basic human right.” Pulitzer Prize-winning author Jennifer Egan has been named the new president of PEN America. Pair with: our own Edan Lepucki‘s 2010 profile of Egan.