How to Make a Buck Writing Novels (Tip: Use Spanish) – Bloomberg
Writing novels is generally not a very good way to make money, but publishing one that wins a top literary prizes can give your bank account a real boost. That is, if you donâ€™t write in English.
With the announcement of the Man Booker Prize due on Tuesday, Bloomberg reviewed the value of some of the most prestigious awards across the world. The upshot: Spanish and Arabic writers with a gifted pen have access to much larger fortunes.
Topping the list by a wide margin is the 601,000 euro ($710,380)Â Premio Planeta de Novela. Even the runner-up gets a whopping 150,250 euros. And if that doesnâ€™t work, Spanish writers can turn to the AlfaguaraÂ prize (148,000 euros) or the Romulo Gallegos prize (125,000 euros), to mention just two.
Compared to this, the Man Bookerâ€™s 50,000 pounds ($66,400)Â and the Pulitzerâ€™s $15,000 are puny. The French, as usual, are in a league of their own: the famed Goncourt prize pays just 10 euros.
Yet, these prizes have something to offer that is worth more than money: widespread recognition â€“Â and the sales that come with it.
â€œMany presumably like the idea of something like literature not being â€˜sulliedâ€™ by crass cash awards â€“ the honor is enough,â€ said Michael Orthofer, who runs the international literature website Complete Review. â€œThankfully, in these cases, the reputation of the prizes is often enough to assure a big enough bump in sales to properly reward the winning author.â€
By the way, thereâ€™s an even better way to make big bucks with writing: Abu Dhabiâ€™s Millionâ€™s Poet TV talent shows gives as much as 5 million dirhams ($1.36 million) to the winning poet and performer. But again, being an English speaker wonâ€™t help you.
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