The impeccable taste of a publisher: Literary prizes and cultural value from a publishing perspective

Abstract The article discusses the complex relationship between publishers and literary prizes in terms of production, marketing, and the value of literary prizes. The main argument is that publishers are instrumental not only in the creation process of literary fiction receiving prizes but also in using the values adhered to awards and nominations for marketing, acquisition, and creating their publishing brand. Awarded prizes are turned into a commodity on the book market, and they can provide publishers and publishing houses with valuable cultural and literary capital. The article draws on theories and perspectives from the sociology of literature and publishing studies, as well as a broad set of research on literary prizes. It is designed as a study within the sociology of literature that uses the practices and material realities of the publishing business as evidence to discuss literary prizes. The material consists of a variety of paratexts, publishers' interviews, and industry data to understand present‐day literary culture, literary value, and the different functions of labor in the book market.