Former President Joe Biden has inked a deal for his presidential memoir, but the $10 million advance pales in comparison to the hefty sums secured by his Democratic predecessors. It’s a stark reminder that not all political legacies translate into blockbuster book sales.
According to a report by the New York Post, Biden, at 82, struck a deal with Hachette Book Group through their imprint Little, Brown & Co. for the memoir, though no publication date has been announced. The figure, while substantial, doesn’t come close to the record-shattering contracts of the Obamas or Bill Clinton.
Biden himself hinted at the project’s progress, stating at a recent event that he’s “working my tail off” to get it done. One has to wonder if the effort matches the payout, or if the market is signaling a colder reception to his tenure’s narrative.
Contrast Biden’s $10 million with the staggering $60 million deal that Barack and Michelle Obama secured with Penguin Random House back in 2017. That kind of money suggests a public appetite for their story that Biden’s deal simply doesn’t reflect.
Even Bill Clinton’s 2004 memoir, “My Life,” fetched $15 million from Alfred A. Knopf, a subsidiary of Penguin Random House’s parent company, Bertelsmann. It’s a gap that raises questions about perceived value in the publishing world.
Biden’s memoir, represented by Creative Artists Agency, also covers worldwide rights, much like his 2017 book “Promise Me, Dad,” which detailed a personal tragedy with his son Beau’s battle with brain cancer. Yet personal resonance alone doesn’t seem to command the same financial confidence as policy-heavy tomes of past presidents.
Adding complexity to the memoir’s timeline is Biden’s health, with a May announcement revealing an “aggressive” form of prostate cancer, described as hormone-sensitive and manageable. It’s a sobering note that could delay or shape the book’s release and content.
Biden has suggested the memoir will span his four years as president, as well as his prior eight years as vice president under Obama. Whether health challenges will limit his ability to craft this reflection remains an open question.
His late July exit from the presidential race last year, following a faltering debate performance and a public freezing episode, only fueled doubts about his capacity to lead. That backdrop might dampen enthusiasm for a memoir from a figure some see as past his prime.
Biden’s book enters a market dominated by blockbuster presidential memoirs, like Barack Obama’s “A Promised Land,” which sold 890,000 copies in its first 24 hours in the US and Canada. It outpaced Michelle Obama’s “Becoming” at 725,000 and Clinton’s “My Life” at 400,000 in the same window.
Just one month after its 2020 release, Obama’s memoir hit 3.3 million copies sold, nearing the lifetime totals of Clinton’s 3.5 million and George W. Bush’s 4 million. Biden faces a steep climb to match such cultural impact.
Publishing giants like Hachette and Creative Artists Agency, who declined to comment on the deal, are banking on Biden’s long political career to draw readers. Yet the numbers suggest a public less eager for his perspective compared to flashier predecessors.
In the end, Biden’s $10 million advance, while no small sum, underscores a market judgment on his presidency’s allure. It’s a quieter echo of a career that spanned decades but ended under clouds of doubt and physical strain.
The memoir will likely delve into his time in the Oval Office and as vice president, offering insights into a tumultuous era. But with sales benchmarks set sky-high by Obama and Clinton, Biden’s story might struggle to stand out on crowded bookshelves.
Publishing is a business, not a charity, and these figures reflect hard calculations about public interest, not personal worth. If Biden’s book can capture raw honesty about his challenges, it might yet carve a niche, even if the payday doesn’t scream bestseller.
