Recognition and renown, the structure of cultural markets: evidence from French poetry

This article explores the organization of cultural markets through the case of French contemporary poetry, distinguishing the market for recognition and the wider market for renown. The market of poetry is made of large-scale and reputed publishers and a wide range of smaller firms, which serve as testing grounds for new authors and innovation. How can the movement of an a priori narrow-appeal literary genre from small publishing houses to large-scale firms be explained? It is argued that if the status of firms is remarkably stable, artists may move from small publishers to large-scale ones. Statistical evidence is used to illustrate this passage, shedding a new light on the structure of cultural markets and the role of reputation in organizing commercial circuits. Future directions for research are offered.