Canelo / Arts Council England |
15
Literature in the 21st Century: Understanding Models of Support for Literary Fiction
The true impact can be seen by comparing graphs of both the TCM
value and the total fiction value against an inflation adjusted version.
At one stage in 2014 almost £1bn of value had evaporated from the
ecosystem of books thanks to stationary prices. For a sector that has
long existed on thin margins, missed revenue of this scale is absolutely
essential. Recent gains in value have started to improve the overall
figure and the picture is getting healthier. Yet this isn’t following through
for fiction, which remains flat in absolute terms and continues to decline
in real terms as is clear from the following graph.
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