Romance is the highest-grossing genre in book publishing, raking in an estimated $1.4 billion in revenue annually — and the knight in shining armor (or shadow-wielding daddy, if you will) is the subgenre dubbed “romantasy.” A blend of romance and fantasy spiced with sexual adult content, romantasy is having a moment.
And it’s not just authors and publishers cashing in.
Podcasters like the delightful sibling duo Fantasy Fangirls boast 95,000 listeners a week; bookish cosplayers and event planners throw “book balls.” A search for romantasy products on Etsy pulls up thousands of candles, T-shirts and tote bags inspired by popular books. It’s a growing industry that even celebrities have tapped into: Rapper Yung Gravy recently admitted that he receives money from recording quotes from A Court of Thorns and Roses, or ACOTAR.
But many romantasy sellers and businesses walk a precarious line between fandom and creative licensing when it comes to the intellectual property of the books they love. In some cases, even when an author gleefully supports these indie sellers or events, they might be also tasked with the burdensome reality of others profiting off of their work.
Welcome to the micro-economy of romantasy, where fae-ear-donning event planners, corset sellers and even performers on OnlyFans fall into fantastical realms… for money.
Bat wings and book balls
Even if you haven’t personally heard of it, romantasy is a financial juggernaut.
Marketing research firm Circana found that, in 2023 alone, romantasy made an estimated $479 million in sales. It’s “the leading growth subject of the print book market with the highest sales increase,” according to Brenna Connor, director and industry analyst for U.S. books with Circana. The hashtag #romantasy has over 800 million views on TikTok, and the subgenre claims a seemingly permanent spot with fan favorites on the New York Times bestseller list.
The biggest name in the biz is undoubtedly Sarah J. Maas and her ACOTAR series about a 19-year old girl that either knowingly or unknowingly kills a fae (a mystical, nonhuman creature) in wolf’s clothing. The ACOTAR books have sold over 45 million copies worldwide.
This is no under-the-radar trend. ACOTAR is also set to be adapted into a Hulu series, and despite rumors of its cancellation, sources confirm it’s still in development. Rebecca Yarros’ Fourth Wing, set in a dragon rider academy that gives equal fantastical action to romantic entanglements, has an Amazon Studios adaptation on the way.
In the meantime, fans are so eager to read, discuss and immerse themselves in romantasy that they’ve taken matters into their own hands.
Book balls draw readers into worlds inspired by the books they love — at an admission price of $50 to $500 a pop. Ball-goers often dress up in character costumes, some wearing bat wings, fae ears and corsets, to dance and meet fellow book lovers in rented castles or posh hotels.
Elle Georgia, a 26-year-old who lives in England, left her job as a wealth manager to start Fae Club, a book events company. She says she felt like her previous career was “killing her,” and when she became a mom in 2022, she began reading more. In quick succession, she fell into romantasy, found a community on Discord and decided to create her own company.
Her first event, the Starlit Soirée, is scheduled for October at the lavish De Vere Grand Connaught Rooms in London. Attendees can book photos with a cast of costumed performers (including a Lord of Foxes and a Shadowsinger), dance to live music, and have “nibbles” with professional photographers to commemorate the night.
“We started big, and it’s paying off,” Georgia says. She wisely hired a cast of popular BookTok cosplayers for the event, including actor Stuart Mackey, a well-known romantasy content creator with 1.9 million followers on TikTok.
Georgia mentions that, although romantasy as an industry is massive, there are only about 200 bookish cosplayers in this space. She’s relying on the experience of her cast to help amplify the marketing and social media content for the Starlit Soirée.
So far, it’s working. Premium tickets priced at £235, or about $312, sold out in minutes; only a few general tickets remain.
Cosplaying as a career
Cosplayer and performer Jo Fischer, known to her followers as High Lady Jo, found a way to connect her passion for books with a business venture. But she’s quick to point out that cosplaying for these events takes a significant investment of your own — including costuming, travel and time spent researching.
“The ball industry is becoming a multi-million dollar industry. It’s huge,” Fischer says.
Sitting in front of a packed bookshelf full of titles like Travis Baldree’s Legends and Lattes, she adds that with the events business growing, negotiations for performers are changing. That’s especially true when it comes to compensation, which ranges from free tickets to booking fees (usually up to $1,000 per event).
Fischer says the job is akin to being a Disney-style “party princess” but with an added level of scrutiny and investment. She designs and thrifts pieces, often crafting her costumes from scratch, and says “JoAnn’s is my best friend.” She spends between $100 and $500 on each outfit from start to finish, including repairs and dry cleaning.
In general, cosplayers must play host, entertain, and have a deep understanding and love of the characters and stories they’re portraying: “If you don’t love these books, then you’re likely to not enjoy the work,” she adds.
There’s certainly no shortage of it. Fischer says cosplayers find additional gigs and opportunities through these events, though some have Etsy shops (and a few, OnlyFans accounts). Fischer has a growing career, as cosplaying led to a full-time role with a fantasy book convention company.
From unwanted touching and overcrowding, negative comments online, and being mindful of trademarks and licensing, Fischer also describes occupational hazards in her line of work. Georgia and Fischer acknowledge they are aware of the gray issues around trademarking, but both intentionally keep their work in the realm of “inspired by” and refrain from using trademarked words.
Instead, they aim to highlight a space where fans take inspiration from not just one series but many, merging them into a world that has a fluidity of lore and characters — some of the fans’ own design.
Rights vs. romantasy
While some authors are delighted to see the enthusiasm for the worlds they create, their ability to endorse the fan-run events and products can be tricky.
“What fans creating these businesses might not realize is that rights and licensing surrounding the books they love may not be held entirely by the author,” says Cassie Malmo, founder and owner of Malmo Public Relations, a boutique book PR firm.
International bestselling romance author Emily McIntire, who writes contemporary romance and fractured fairy tales, says she “absolutely loves” when fans create something inspired by her work. But she stresses how important it is that sellers go through the proper channels to do so.
“This is for a few reasons, but the most important one is that unless the work is in the public domain, it’s protected by copyright,” says McIntire, whose new novel, Hexed, is out in November. “If there isn’t a contract in place, then it’s illegal for them to sell.”
To that end, she suggests creators get a licensing contract to protect all parties. Though being formally licensed means sellers have to pay a portion of each sale to the author, it can be mutually beneficial: Yarros and McIntire, for instance, display lists of licensed merchandisers on their websites.
While it may seem challenging to get signoff from a major publishing house, McIntire encourages fans to simply reach out to her with requests for licensing and merchandising rights.
“I love to help support small businesses, so we usually approve them,” she says.
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