Speaker 1
It's often not just the super new releases that are doing well on TikTok, it's also some of the older stuff. Readers on the app are also just as excited about old books, books published before the app even existed. So for example you've got this dark academia aesthetic, which glamorises gothic style, universities, a love for classic literature. Are you seeing the vision? And that's drawn new attention to old books like The Secret History, for example, which was published 31 years ago. You've also got the hype around Netflix's hit show Bridgerton, which has created new fans of period romance and in turn led people to rediscover books like Pride and Prejudice by Jane Austen which actually won Best BookTok Revival at TikTok's inaugural book awards this August The data from the market suggests that TikTok is only actually driving a small slice of book sales, just 3%, according to Nielsen. But the platform is still important because it's commanding recommendations, it's growing rapidly, and it's proving to have immense trend-setting power. Now, for publishers, the challenge is then to keep up with those trends. And it's not as simple as just commissioning more books that make people cry. Some publishers have actually tried this, but they've ended up just saturating the market with subpar young adult romance books. Virality is really hard to confect, and it's also really difficult to time. You can't force it. That's the point. And it's not just publishers that don't get it. Most authors don't understand how BookTok works either, because it's not really about them. Colleen Hoover, for example, doesn't have a TikTok account. Looking forward, I think it's unlikely that BookTok's growth trajectory will slow down. These online creators want to be treated as journalists and critics, and they want their commentary to be taken seriously. They want publishers to stop seeing these kinds of books as lowbrow or trashy. But also, as BookTok grows, it's not only the steamy romance and the thrilling fantasy books that have the potential to go viral. I think horror, for example, could also continue to fill an appetite for the big twists. Even beyond fiction, the popularity of things like filmed daily rituals and self-care content is fertile ground for journals and self-help books on the app. And even biographies like I'm Glad My Mum Died by former child actor Jeanette McCurdy has also done very well on BookTok. These kinds of success stories should prompt publishers to be bolder in their bets and to break new ground. But the thing is with virality, timing and a whole lot of luck is a very key ingredient to success. Literary quality, however, is not. That's all for this episode of The Intelligence. As you heard, we're launching a new subscription, Economist Podcast Plus, next month. Don't worry, we aren't going anywhere. Everyone will be able to listen to our weekday episodes of The Intelligence. But to enjoy our full suite of podcasts, including our specialist weekly shows like Babbage or Money Talks, and our new weekend show, you're gonna need a subscription. If you're already an Economist subscriber, don't worry, you'll have full access to all of our shows. But if you're not a subscriber yet, listen up, here's the deal. If you sign up for Economist Podcast Plus before October 17th, you can get a year-long subscription for half price, about $2 a month. So come on, follow the link in our show notes to find out more. And we'll see you back here tomorrow.