There are all kinds of arguments for reading the canon (Italo Calvino‘s come to mind) but why should we spend time reading untested contemporary authors? Tim Parks tackles this question, with a little help from Virginia Woolf, for The New York Review of Book‘s blog, and his argument pairs well with Guy Patrick Cunningham‘s Millions essay on reading the classics.
“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.
America's oldest LGBT bookstore, Giovanni's Room, is closing on May 17. The Philadelphia staple is shutting its doors after four decades due to the owner's retirement and financial problems. At Salon, Steve Berman remembers the store and discusses how its closure will affect the publishing and LGBT community. "So LGBT books are forced to the edges, to the shadows, despite claims of assimilation. Gay authors have to do more and more marketing to find readers. Gay publishers have to struggle with shrinking venues to showcase their titles."