“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 first teaser trailer for The Counselor was released today. The film, which is directed by Ridley Scott and written by Cormac McCarthy, will star Michael Fassbender, Brad Pitt, Javier Bardem, Cameron Diaz, and Penélope Cruz among others. As you bide your time before its November release date, treat yourself to a sneak peek of McCarthy’s screenplay over here.