The New York Times has steadily expanded its number of best-seller lists. It now includes three lists: hardcover (fiction and nonfiction), paperback (trade fiction, mass-market fiction and nonfiction) and advice, how-to and miscelllaneous (hardcover and paperback lists).
This is one of the few remaining stand-alone book review sections in the country as newspapers cut back. Three pages are devoted to the best-seller lists each week.
Stanford professor Alan Sorensen determined in 2004 that an appearance on the Times best-seller list added 13 to 14 percent in a book's first-year sales on average. Sales increased as much as 57 percent for first-time authors, while appearance on the list had no impact for established best-selling authors.
Appearance on the list can prompt publishers to put more money into promotion and advertising. Booksellers will increase their orders and give the book better display. Being on the list can facilitate deals for second serial, paperback and foreign and film rights and lead to higher revenue for the author and publisher.
Being on the list establishes an author as "best-selling," contributing to the value of the author's franchise and leading to bigger advances and better terms in future contracts.