(This article originally appeared in the NLA Newsletter on February 14, 2020. Stay tuned on Wednesday 4/1/2020 for a follow up article.)
It rather cracks me up that according to USA Today, Google searches for Corona beer have surged recently. A good portion of Americans are searching “beer virus” to find information about the epidemic currently sweeping China and threatening to go global. For the record, the coronavirus (now renamed COVID-19) has nothing to do with the refreshing beer you can stick a lime in. And if you want more info on the origin of the name, wikipedia might be a good source.
But it’s no laughing matter when something far across the Pacific impacts publishing right here on American shores. And once again, China is back in the spotlight. In September 2019’s newsletter, I talked about how the trade war between the US and China is impacting foreign-rights licensing. Now it’s a virus causing disruption. I fear it’s going to be a lean year for sales in that part of the world.
NLA partners with a terrific foreign-rights co-agent in Asia—a partner who keeps us in the loop with detailed updates. Normally, we’d be catching up with him at the book fairs in Bologna and London, but, sadly, not this year. International travel is risky right now, so to be safe, they’ve canceled. I one-hundred percent support health over attending.
Here’s how the epidemic is affecting publishing in China:
- Chinese companies are having employees work remotely so as to minimize contact. In publishing, this will significantly impact contracts, royalties, and payments. I actually have a big deal happening in China. Luckily we received the on-signing payment back in September, but I have a sense that other payments will be a lot slower to come in. Luckily, most of our authors don’t rely on foreign advances when doing their annual financial planning. Still, it’s tough news.
- In good news, publishers are still reading manuscripts. But unless a title is super hot, offers will not be as forthcoming.
- The big rights fair of the year, The Beijing Book Fair, normally happens in September. That might be canceled. Lots of deals happen at that fair, so cancelation will be a blow.
- Printers, physical bookstores, and banks remain closed. Yep, I’m sure you can extrapolate how that impacts so many things in this biz.
In this global publishing world, Asia’s problem is our problem. And all of it affects an author’s bottom line.
I won’t raise a beer to that. Or stick a lime in it.
Creative Commons Photo Credit: eFile989