John B. Thompson - Merchants of Culture

Journal of Scholarly Publishing

‘Thompson’s work, well-researched and documented … should be required reading for anyone interested in books, publishing, and their impact on popular culture.’

Journal of Electronic Publishing

‘Excellent … a gift for those of us working to publish books that will matter to readers and to posterity, regardless of where in the field we practice our craft.’

The Exchange: The Newsletter of the Association of American University Presses

‘Anyone fascinated with publishing will find no end of insight in this meticulously researched volume. I went so far as telling a friend of mine who chairs a graduate program in publishing and editing that if the students in his program aren’t reading this book, they’re not getting the education they’ve paid for. I can’t recommend it highly enough. If you want to understand the publishing industry, read this book.’

Small Press Reviews

‘For some time to come, this is bound to be the definitive thing to read for anyone trying to understand the infrastructure of book culture – especially as it has taken shape over the past two or three decades.’

The National

‘A thorough and thoughtful analysis of publishing as a relatively self-contained world – a “field” obeying rules that are ultimately economic, but in ways refracted through maneuvers and conflicts that defy simple cost-benefit analysis. Anyone interested in publishing will want to read it.’

Inside Higher Ed

‘Superbly researched and presented, Merchants of Culture is a seminal addition for academic library collections and essential reading for members of the publishing industry (including authors and book reviewers!) seeking to adapt to the constantly changing influences of modern technologies upon the art and economics of trade publishing.’

Midwest Book Review

‘Read this in one afternoon, was so riveted by it. One of the most intelligent and accurate discussions of the publishing world I’ve read. As an author, I think it’s so necessary to try to understand the world I work in. This book not only debunks a number of myths about publishing, but provides a real insider’s view. It is a must-read for anyone hoping to become a published writer, or who already is one.’

Jean Kwok, author of the New York Times bestseller Girl in Translation

‘As soon as I tore open the box, I had to start reading … It’s frank, comprehensive, well-researched, with lots of interviews with people who know – and it pulls no punches. Want to know about the rise of the literary agent or why your mid-list books aren’t marketed properly or what the digital revolution means for the author in the street? Then buy this book.’

Karen Ball, author of Starring Me as Third Donkey and other children’s books

‘Just completed a first class degree course in trade publishing and the “making of a bestseller” – at least I feel like I have after reading Merchants of Culture by John B. Thompson … From now on whenever anyone asks me how they can get published or get a job in publishing I’m going to tell them to buy this book because it is simply perfect at summing up how the whole messy business works and explaining why it very frequently doesn’t work.’

Andrew Crofts, author of The Freelance Writer’s Handbook

‘A must-read for anyone interested in books and the publishing industry, this is an easy-to-understand, fascinating account of the history of the publishing industry in the UK and US and a coherent explanation for the current pressures facing the main players … A fascinating book and one that I would heartily recommend.’

Caroline Hooton, writer and blogger for Quippe’s Journal

‘By an order of magnitude, this is the best book on the economics of contemporary publishing.’

Tyler Cowen, George Mason University and blogger for The Marginal Revolution

‘Fascinating … a tremendous primer into the political economy of the publishing industry. Highly recommended.’

Displacement Activity

‘A must-read for any writer trying to get a handle on what the future portends.’

Erik Olsen, wewantedtobewriters.com

‘Anyone who is interested in our shared cultural well-being ignores the implications of [Thompson’s] work at their peril.’

Ben Bennetts, Things Unrespected

‘A compelling and necessary new book.’

Maria Popova, Brain Pickings

‘ Merchants of Culture is crisp and clear, and does a great job in both describing and understanding changes in this strange business … Thompson’s study is one of the most valuable studies on publishing in recent decades, and promises to be the new reference point for sociological research on the publishing industry.’

Cultural Sociology

‘The richness of Thompson’s analysis … his fascinating ethnographical descriptions and … the remarkable clarity of his demonstration … shows the benefit that economic sociology could derive from the study of cultural industries.’

Economic Sociology

‘[This] book updates the documentary record for sociologists and will rivet any wannabe author … Even though corporations like Borders file for bankruptcy, the book will survive, and Thompson describes the conditions, some menacing but others safeguarding its always-uncertain future.’

American Journal of Sociology

‘Thompson’s study of book selling makes compelling and sometimes troubling reading.’

Journalism and Mass Communication Quarterly

‘For anyone seeking to understand the industry, I know of no better resource. Merchants of Culture deserves to become an established text on publisher education courses.’

British Journal of Educational Studies

‘Thompson has written a very valuable book that is likely to become the standard reference on the Anglo-American publishing industry for many years to come.’

Mediekultur: Journal of Media and Communication Research

Second Edition

JOHN B. THOMPSON

polity

Copyright © John B. Thompson

The right of John B. Thompson to be identified as Author of this Work has been asserted in accordance with the UK Copyright, Designs and Patents Act 1988.

First Edition published in 2010 by Polity Press

Second Edition first published in 2012 by Polity Press

Polity Press

65 Bridge Street

Cambridge CB2 1UR, UK

Polity Press

350 Main Street

Malden, MA 02148, USA

All rights reserved. Except for the quotation of short passages for the purpose of criticism and review, no part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher.

ISBN-13: 978-0-7456-6361-6

ISBN-13: 978-0-7456-6106-3 (paper)

ISBN-13: 978-0-7456-6142-1 (Multi-user ebook)

ISBN-13: 978-0-7456-6143-8 (Single-user ebook)

A catalogue record for this book is available from the British Library.

The publisher has used its best endeavours to ensure that the URLs for external websites referred to in this book are correct and active at the time of going to press. However, the publisher has no responsibility for the websites and can make no guarantee that a site will remain live or that the content is or will remain appropriate.

Every effort has been made to trace all copyright holders, but if any have been inadvertently overlooked the publisher will be pleased to include any necessary credits in any subsequent reprint or edition.