From Dan Simmons’ forums, here are some interesting facts regarding the ongoing state of the publishing industry:
Approximately 25,000 manuscripts are rejected for every book that gets published.
In the United States, only about 500 authors are able to earn a living just by writing fiction.
The rest of the published novelists find that their book income keeps them below the poverty level, forcing them to work another job.
The typical advance for a first novel is less than $10,000.
More than half of the books published bring in no money beyond the advance.
Over 50% of novelists hold a graduate degree, but no advanced degree or certification can guarantee a manuscript sale.
A collection of publishing facts
Check out the link for the actual articles and blogs that surrendered such information as listed above. Is it sobering? Knew it already? Don’t really care? Let me know what you think.
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