I ran out of time yesterday to get this posted. The Wall Street Journal ran an article on Tuesday titled “To Publishers, Megahits Mean Very Big Numbers” [sub. needed]. The piece talks about the growing expectations and dependence publishers have for bestsellers. In the early 90′s, 1 million copies sold was a big deal and now the bar is 5 million copies. This has been driven by the likes of The Da Vinci Code, the Harry Potter series, and The Purpose Driven Life.
The article talks a lot about Mitch Albom and The Five People You Meet in Heaven. This month the book is likely to pass the five million book mark. I found the business numbers interesting – “[publisher] Hyperion will generate $50 million in revenue at five-million mark, on which it will earn an estimated $15 million in operating profit.”.