The plight of literary magazines

Dec 16 2008

Yesterday I received my new copy of Poets & Writers Magazine (aff link), something I look forward to 6 times per year. As I was flipping through the pages, I noticed something that had grabbed my attention before – a majority of the ads appear to be from various MFA programs around the country.

Yes, there are a few ads by small presses and a few writing services sprinkled in those pages, but MFA programs dominate a lot of the magazine’s ad space. And, along with the magazine, I received a solicitation to donate to Poets & Writers. As I understand it, the donations help to support the various programs that PW offers to fledgling writers.

What’s my point?

While everyone is hurting nowadays because of the crummy economy, literary magazines have always struggled. PW appears to do well compared to some of the smaller publications that rely soley on subscribers to make ends meet. Even then, very few are lucky to break even and most just stay in the red.

If MFA programs are the only ones advertising in the larger magazines, then that well probably dries up pretty fast. There’s very little fresh blood keeping the literary magazines going in terms of revenue streams.

Too many writers, not enough readers!

Another problem is that we have too many writers! There are abundant people who want to write literary fiction, but not enough consumers to meet the overwhelming supply. Just look at all those MFA ads I mentioned earlier. MFA programs have sprouted up everywhere, competing for young writers who are anxious to leave their mark in the literary world.

How many of those young writers are subscribing to, or buying, literary magazines? Probably not enough, especially now, when "expendable income" is hard to come by. But if young writers want these smaller publications to buy up their short fiction and poetry, then those writers need to do their part in support such publications. I know it sounds a little circular, but that’s the reality we’re living in.

Very small market for lit mags!

Yes, the market for literary magazines is very small. Among those who do read in the US (and that number by itself is low enough to make any English teacher cry), most prefer genre fiction. Look at the titles that dominate the bestseller lists week after week.

With a small market that actually buys these publications, and an overflowing pool of writers wanting to be published, the economics is impossible and something has to change.

What’s the solution?

While it’s doubtful that the pool of writers will shrink anytime soon (according to this NYT essay, the pool is still growing!), and it’s doubtful that the general public will develop a sudden love affair with literary fiction, something else needs to change.

Personally, I think digital content is the answer. If these smaller publications went digital and offered their content in an ebook-like format, it would greatly reduce their costs. The internet is helping to level the playing field, but it hasn’t been enough.

Maybe we need to go back to the days of having patrons, where wealthy individuals keep these independent publications going out of sheer love for literature. That’s another solution, although not an ideal one.

Read More: Literary News, Publishing News