Ep. 28 - The Changing Landscape of Bestseller Lists

November 13, 2023

The recent announcement from the Wall Street Journal stating the discontinuation of their famed weekly book bestseller lists has sparked discussions across the literary world. This podcast episode dissects the implications and the shift in the landscape of book bestseller lists, reflecting on its impact and the changing dynamics for authors and consumers.

The Impact of the Wall Street Journal’s Decision

For years, the Wall Street Journal’s bestseller lists have been a cornerstone for authors, readers, and consumers to gauge trending books, offering insights into which books are making an impact across various categories. The WSJ badge on a book cover symbolized credibility and marked a significant achievement for authors.

Unpacking the Decision: What It Means for Authors

The discontinuation decision was fueled by a shift in obtaining sales numbers. The implications for authors are multifaceted, as these lists weren’t just about book sales; they influenced an author's business credibility and also boosted marketing efforts.

The Appeal and Challenges of Bestseller Lists

The allure of these lists lies in the prestige and the credibility it offers, yet breaking into these lists can be challenging, as books with strong marketing engines often dominate the top spots.

Shift in Author Mindset and Strategies

With the Wall Street Journal list no longer available, authors might pivot their focus toward other lists like The New York Times or consider becoming bestsellers within specific categories on platforms like Amazon.

Rethinking Bestseller Metrics

This shift could prompt authors to reconsider what metrics define book success, moving away from a one-time accolade to focus on consistent book sales over time, indicating the sustained engagement of readers.

Looking Ahead: Future of Bestseller Lists

The void left by the Wall Street Journal creates a space for potential new lists to emerge. Authors must now reevaluate their priorities regarding bestseller lists and identify the true measures of their book's success.

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Episode Transcript

[00:00:00] News recently hit that the wall street journal will no longer publish its weekly book bestseller lists, which has been around for several decades.

[00:00:10] This now historic weekly list has been looked at by authors or consumers as a place to get book recommendations and see which books are trending and the different charts based on the different categories that are published. And it has served as a signal for people to gauge the quality of a book. And many authors have proudly displayed the wall street journal bestseller badge on their books, on their Biles and on their website. And this is a mark of credibility.

[00:00:40] We don't know the full details behind why the wall street journal chose to discontinue the bestseller list. But we do know that they no longer want to pay the fee to obtain the sales numbers

[00:00:53] which has been provided by the company, Circana, which is also known as an NPD.

[00:00:58] BookScan. [00:01:00]

[00:01:00] Now as I've thought about this, I've been thinking about what is the impact that this has across the industry. And for many authors being featured on the wall street journal bestseller list is a significant achievement and especially for those in my experience on the wall street journal, business book bestseller list, has been a way to help drum up business and credibility

[00:01:21] Now the only other competitors to the wall street journalist has been the New York times and USA today. Specifically more of the New York times list has that list is older than the wall street journal list.

[00:01:33] So What's the appeal behind these best seller lists? It offers a level of credibility that really can enhance an author's business, not just in book sales, but also in the promoting of their additional services.

[00:01:46] However, breaking into the list can be challenging. As books that have been around for a decade or more often dominate the list in the sense that they do have a good book, but there's also a [00:02:00] continuous, strong marketing engine behind the book so these books continue to be on the bestseller list.

[00:02:06] \ Only time will tell to know the extent of this impact and what it will do to shift the way the author's view and participate in trying to get on a bestseller list.

[00:02:17] Author's may just shift and go from wanting to be on the wall street journal to the New York times are shifting. More fully to get in more lucrative. Categories on Amazon to become a bestseller in that specific category.

[00:02:32] Now for authors, this is an opportunity to maybe change your mindset from just only pursuing a one-time accolade and spending potentially thousands of dollars to get your book on the list, either through marketing efforts or through the controversial, a method of buying. your way onto the list where the books don't necessarily end up into the hands of end consumers.

[00:02:54] It will be interesting to see. If there is another list that tries to fill the [00:03:00] void that is left by the wall street journal. So for those closely following book books, seller lists, this development is significant, given that the wall street Journal's longstanding presence has been a strong focus for many authors,

[00:03:14] the opportunity is, is for authors to really decide for themselves and face the challenge of what really drives their book sales and what really do they want to use as a milestone to measure their, their book and the way that it's gaining traction or the way that it's not gaining traction.

[00:03:34] In my view, one of the ultimate ways to know if a book is doing well, is if it continues to sell consistently and it's not just these blips at the beginning of a launch of a book that drop off quickly. You want those consistent sales and those consistent sales to continue and to increase as an author and that shows that the book is taking on a life of its own.

[00:03:55] I'd love to know your thoughts on this change. What do you believe that an author's [00:04:00] priorities should be in regards to bestseller lists?

[00:04:02] Let us know your questions by engaging with us on social media or sending us an email at [email protected]

[00:04:10]

[00:04:10] To get help increasing the sales of your book and building your author brand

[00:04:21] visit juxta book.com. To set up your author coaching session today.

[00:04:27] If you have any questions about a recent episode, I'd love to hear from you. Visit juxtabook.com/beyondthebook and click the appropriate button to leave your question and we will include it in our weekly Q&A episode.

[00:04:43] Your book is just one chapter in your author journey. Think beyond the book as you craft your path. Thank you for your questions and thank you for listening.

Ep. 28 - The Changing Landscape of Bestseller Lists

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