The golden era of books is over. Sales of adult hardcovers, the most expensive and lucrative category of books, were down 23 percent in the first half of 2011 after falling 5.1 percent in 2010. Yet the world’s top-selling authors — people like Stephenie Meyer, Stephen King, Janet Evanovich and, especially, James Patterson — aren’t exactly hurting. In some cases they’re doing better than ever. How? By riding the strong updraft of the fast-growing e-book category while aggressively diversifying their personal brands with multimedia deals and franchises aimed at young adults.
Patterson is a prime example. In the period from May 2010 through April 2011, he was again the world’s top-earning author, with total income of $84 million. (Our income estimates are based on sales figures supplied by Nielsen Bookscan, year-end sales totals submitted by publishing houses to Publishers Weekly, and input from numerous agents, managers and editors.) That’s a major increase from the $70 million he booked the year before.
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