The business news website ICv2 isn’t known for being hyperbolic. So when Milton Griepp said that this month’s comics sales had “plummeted” everyone leaped up, screaming, knocking over chairs and spilling drinks everywhere.

Sales of comics and graphic novels through Diamond Comic Distributors dropped substantially in August with periodical comics falling 17% and graphic novels down 21%.  There wasn’t a single comic title even close to the 100,000 in August. 

If it weren’t for the continued strength of SCOTT PILGRIM trades, the GN drop would have been even more grisly. On the periodical side, there was no big book, but, said ICv2, Certainly “the lack of one big title can’t account for everything.”

The grim details immediately set the punditocracy to arms, perhaps sniffing the hint of burning smoke in Tom Spurgeon’s Doomapocalyptigeddon which he descried from his aerie high in the Misty Mountains, the same distant smell of charring paper and brimstone that we’ve been picking up for the last few weeks.