By Edward Nawotka
Today’s lead story about the impact being longlisted for the Booker Prize has had on a trio of small, independent UK publishers notes the massive uptick the publishers have had in interest from foreign publishers seeking rights.
The sales boost a title gets from such a nomination has been documented — though at times, that boost may seem underwhelming. The consensus is those titles that benefit the most are the ones with wide distribution in the market at the time of the announcement. Smaller publishers can rush to reprint, but it might take weeks for those books to reach stores and get onto shelves — perhaps too late to take advantage of the first flush of attention.
The real advantage in the long run for small publishers might not be revenue from increased sales — though that is always welcome — but from the foreign rights deals the attention generates. The sales revenue might be greater, or then again, it might not. But the new contacts, deals and relationships the publishers can make as a result of the nomination may pay greater dividends in the long-term.