Wednesday, May 6, 2009
Publishing Predictions: New York Replaced By Cyberspace
There is a new class of authors developing today. The class is characterized by the author who can write commercially viable books and has the marketing savvy to find readers for those books. Oh yeah, they also publish their books themselves. No longer does self-publishing mean the last hope of subpar work that has been rejected. The self-publishing world is being divided into two distinct groups:
1. Authors who are good at what they do
2. Authors who are not good at what they do
People, especially the book buying public, are starting to find the good ones. Based on this new reality, I have made a few predictions that ultimately moves the center of the publishing universe away from New York and into Cyberspace. Here are four publishing predictions that I see for the near future:
1. Publishers will continue to find their own talent, but a paradigm shift will take place that frees them up to aggressively comb through the self publishing titles in print that shows promise for commercial success and bring those titles into their distribution system. In fact, self published authors will end up making up the lion's share of the books published by traditional publishers. By adapting this way, their success rate at finding profitable books will become less and less dismal and more and more profitable. (According to Jan B. King of eWomen Publishing Network, between 70% and 90% of traditionally published books do not break even.)
2. Bookstores will sharply decrease their shelf space and cater to the reading experience. They will no longer return books; rather, books will be printed on site as customers order them. The new technology that exists for print on demand will be available in each store. The terrible, money wasting book return system of today will go the way of the dinosaurs.
3. Newspaper book reviewers will reinvent themselves. With major papers dropping book reviews, the reviewers who survive will find a new way to bring value to the book reader. They will have to do more than give stars to a book; readers are finding their favorite reviewers online. Print reviewers who weather the current storm will do so by going out and finding the diamonds among the many self-published works. Book reviewers who consistently find the best "hidden" books and bring them to the public's eyes will be the ones who create a strong following and have longevity in this new order.
4. Agents will probably be the most nimble to adapt when the time comes. The best ones will develop systems of finding the self-published books with the most commercial promise. Because of their expertise, the relationship they have with the New York publishers will strengthen as they become valuable assets to the publishers who embrace this new publishing order.
These are my predictions for the publishing industry. The new reality is here. Those who see it, and adapt will prosper. Those who don't will die. What does this mean to authors who self publish? It means that your future is in your hands. If you have a dream to be published by a New York publisher, it will become more doable as time goes by. It also means that it's no longer only a matter of whether you are self published or traditionally published; it's also a matter of whether you are self-marketed or not.
It means you must create a commercially viable book. No trash; no error-riddled text; no poorly written text. It is incumbent upon you to do what it takes to make sure your book is of the exacting quality to sit on a bookstore shelf now. If not, then not much will change for you when these changes do arrive.
It will be interesting to see how the future plays out. One thing is for sure, self publishing is no longer a method to be looked down upon and despised anymore. It's here, it's the future, and for those currently in the publishing industry, it will force them to look for ways to embrace the technology and use it for their own economic survival.
Tony Eldridge
1. Authors who are good at what they do
2. Authors who are not good at what they do
People, especially the book buying public, are starting to find the good ones. Based on this new reality, I have made a few predictions that ultimately moves the center of the publishing universe away from New York and into Cyberspace. Here are four publishing predictions that I see for the near future:
1. Publishers will continue to find their own talent, but a paradigm shift will take place that frees them up to aggressively comb through the self publishing titles in print that shows promise for commercial success and bring those titles into their distribution system. In fact, self published authors will end up making up the lion's share of the books published by traditional publishers. By adapting this way, their success rate at finding profitable books will become less and less dismal and more and more profitable. (According to Jan B. King of eWomen Publishing Network, between 70% and 90% of traditionally published books do not break even.)
2. Bookstores will sharply decrease their shelf space and cater to the reading experience. They will no longer return books; rather, books will be printed on site as customers order them. The new technology that exists for print on demand will be available in each store. The terrible, money wasting book return system of today will go the way of the dinosaurs.
3. Newspaper book reviewers will reinvent themselves. With major papers dropping book reviews, the reviewers who survive will find a new way to bring value to the book reader. They will have to do more than give stars to a book; readers are finding their favorite reviewers online. Print reviewers who weather the current storm will do so by going out and finding the diamonds among the many self-published works. Book reviewers who consistently find the best "hidden" books and bring them to the public's eyes will be the ones who create a strong following and have longevity in this new order.
4. Agents will probably be the most nimble to adapt when the time comes. The best ones will develop systems of finding the self-published books with the most commercial promise. Because of their expertise, the relationship they have with the New York publishers will strengthen as they become valuable assets to the publishers who embrace this new publishing order.
These are my predictions for the publishing industry. The new reality is here. Those who see it, and adapt will prosper. Those who don't will die. What does this mean to authors who self publish? It means that your future is in your hands. If you have a dream to be published by a New York publisher, it will become more doable as time goes by. It also means that it's no longer only a matter of whether you are self published or traditionally published; it's also a matter of whether you are self-marketed or not.
It means you must create a commercially viable book. No trash; no error-riddled text; no poorly written text. It is incumbent upon you to do what it takes to make sure your book is of the exacting quality to sit on a bookstore shelf now. If not, then not much will change for you when these changes do arrive.
It will be interesting to see how the future plays out. One thing is for sure, self publishing is no longer a method to be looked down upon and despised anymore. It's here, it's the future, and for those currently in the publishing industry, it will force them to look for ways to embrace the technology and use it for their own economic survival.
Tony Eldridge
Labels:
book marketing,
book review,
marketing,
newpapers,
publishing,
self published
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10 comments:
Well put Tony,
I think we've all seen the shift. Even Ebooks and other digi-book forms are starting to take off, look at the success of Amazon's Kindle.
Literature is an art form like any other, but I can see were the art of writing will be expanded on and the actual creation of a book will become the art…
Chris
True. It's an interesting time to be an author. Really, it means that if you apply yourself to your craft in a professional manner, then being self-published, whether with a digital or physical book, then you will one day be able to tap into the massive distribution system of the traditional publisher.
But the truth is, many authors may find that even the enticement of the large distribution system will not be enough for them to give up the control and higher per sale profits they have now.
The ball will definitely be in the authors court and the traditional publishers will have to approach authors as partners, not corporate property.
An interesting article.
Looks like the start of a revolution in books... Readers will also benefit from the variety now.
Cheers
Freya
I think you are right, Freya. It will be interesting to see which traditional institutions accept and adapt to the new publishing environment that's on the horizon and which ones fight it to their dying days.
Tony --
This is an excellent article. Those authors who don't heed the writing on the wall will be left behind.
Thanks for sharing your predictions.
Phyllis
You're welcome, Phyllis. And thanks for your insights as well, especially as we discussed these principles before I published. Oh, and your editing advice is worth its weight in gold!
I've been reading a around a lot about this topic, and one thing is starting to bug me. Where are all the translations going to go? This is one part of the publishing world that seems hard to tangle by cyberspace for now...
Excellent observation, Jan! I know that many self published authors contact foreign markets directly and work out foreign rights for their books. In fact, John's Kremer's book, 1001 Ways To Market Your Book (reviews on this blog), has a whole section on how to do this, and his is but one of many resources on handling foreign rights.
As far as domestic translations, I suppose that self published authors will use the same services available to traditional publishers. I even know of one author approached directly by someone to create a Spanish translation of his work for no investment, only a cut of the sales. Where there's a market, there will be a way.
Translations of self-published books have increased multifold since the Internet became popular. At last self-published books can be discovered by publishers in other countries. I've sold about $30,000 in translation rights for 1001 Ways to Market Your books (and a few other titles) -- all via initial contacts on the Internet. The world is coming to us. Yippee :))
It IS an interesting time to be an author, Tony! Great post!
I just signed a contract with a major NYC publisher for a trilogy based on a much-abbreviated version of my first novel (still available for reading--for free--at http://www.textnovel.com ). The publishing company actually found ME and I feel really good about the deal we've struck and (more importantly), the people I'll be working with.
The journey to publication is becoming a far more fluid thing--there are no strict roadmaps to follow anymore, just rocks in the river to avoid. ;-)
~Saoirse Redrave
Winner Textnovel.com 2008 for "13 to Life"
Twitter: @AuthorSaoirse_R
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