Dan Brown, Inc.
Does ‘The Lost Symbol’ hold the secret to reviving the publishing industry?
“Dan Brown’s latest historical/conspiratorial/symbological mystery had a stellar first day,” said Keith Staskiewicz in Entertainment Weekly. Brown’s The Lost Symbol sold more than a million copies in the U.S., Britain, and Canada Wednesday, breaking Barnes & Noble’s first-day sales record for an adult book—“‘adult,’ in this case, being shorthand for ‘not Harry Potter.’” However you read the sales data, it “spells major success for the author.”
That’s great for Dan Brown, said Alexandria Sage in Reuters. But it’s also welcome news for publishers and booksellers, who’ve “wallowed in a slump in recent years,” especially during the recession. The first-day sales pushed shares of Amazon, Barnes & Noble, and Borders higher Wednesday, and Bank of America Merrill Lynch upgraded Amazon to “buy.”
Sure, the release of The Lost Symbol was a “major moment” in the book world, said Jon Friedman in Marketwatch, but it “simply won’t save a beaten-down industry.” Why? First of all, Amazon, Barnes & Noble, and Borders, having been handed the “hottest book in two-plus years,” are selling it “at a knockoff level,” as a sort of loss leader. “Do the math”—this doesn’t add up to good business.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The cheapest version of The Lost Symbol is on Amazon’s Kindle e-reader, said Eric Engleman in TechFlash. And, amazingly, the $9.99 Kindle version is beating the discounted $16.17 hardback version on Amazon, as well as every other book at the world's largest bookstore. Amazon “scored a coup” by getting Random House to agree to release the Kindle version Wednesday, and its gamble is paying off.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Why ghost guns are so easy to make — and so dangerous
The Explainer Untraceable, DIY firearms are a growing public health and safety hazard
By David Faris Published
-
The Week contest: Swift stimulus
Puzzles and Quizzes
By The Week US Published
-
'It's hard to resist a sweet deal on a good car'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published