A few interesting pieces of information on the publishing industry, as shared in this trial and article:<p>On profits:<p>> PRH’s Dohle said that the top 4 per cent of his books produce 60 per cent of his profit. The best books, he says, are the ones “that you don’t pay a lot for and become runaway bestsellers.” He excuses the fact that so few of his big bets pay by comparing himself to a venture capitalist. The book industry, he says, is “the Silicon Valley of media.”<p>On marketing:<p>> The big houses are skeptical about book marketing. One publisher said, “I don’t think marketing money can create a success,” it can only amplify or extend a success. That may be true but the big houses, we also heard, are not really trying. They spend little on marketing: roughly 2 per cent of expected revenue per book. (…) Some agents ask publishers to guarantee how much they will spend on marketing a book before they’ll sign. Most won’t.<p>On advances:<p>> about 70 per cent of all the money paid on advances by the Big Five goes to $250,000-plus books. Judge Pan asked if $250,000-plus books comprise 70 per cent of Big Five book sales. The answer was no, not even close.