Evolving world of publishing

I’ve followed Mike Shatzkin for years. Mike offers strategic consulting to the global book publishing business and posts every 4-6 weeks on happenings in that world. His latest post, which considers the end of the general trade publishing, got me thinking.

Mike’s premise is that “General trade publishing will be soon be recognized as an artifact of a trade that no longer exists. It doesn’t make sense any more for the organizing principle for title acquisition and marketing to be “if it works in bookstores, and we are confident we can convince them it will, we can do it”.”

Mike Shatzkin’s article compares the publishing world of the 1990s with today’s environment. I love making diagrams to reflect what’s going on and have attempted to highlight the differences Mike Shatzkin described in the following diagram.

  • It’s no surprise that Amazon is the elephant in the room. We’re all aware of its reach and influence. It operates as a home for writers who self-publish or are hybrid authors and as a publisher with at least 7 imprints. Through its electronic delivery and marketing machine, Amazon bypasses – and reduces the influence of – distributors, wholesalers, bookstore chains and small bookstores. In two earlier posts, I’ve also looked at how Amazon manipulates its best seller lists to feature its own authors. See here and here.
  • Self-publishing is an increasingly viable alternative for authors. In addition, for authors published by the ‘Big 5’, self-publishing offers an alternative source of revenue for books declined by their publishers, a more lucrative option in the face of declining advances, and/or a way to promote their backlists once they regain rights to those books. An increasing share of books are self-published.
  • Self-published authors along with Amazon reach readers directly. They bypass wholesalers and distributors, are infrequently sold through bookstores, and are less likely to be on library shelves.
  • Today, bookstores are roughly 25% of book sales. This means that it’s increasingly difficult for publishers to make the same margins they did in the past publishing a new book.
  • Audience-specific and topic-specific markets – particularly for non-fiction but also for fiction – are the way of the future. Publishers need data and marketing mechanisms to reach them.
  • General trade publishers who created profitable businesses based on selling 80% or more of their titles through bookstores must find, and are finding new mechanisms to reach readers. Unfortunately, Amazon has such a head start that this is a severe uphill climb.
  • E-books have upended the old world. With e-books more than 18 million titles are available at the click of the mouse. As a result older titles are taking a big share of revenue away from new titles.
  • Print on demand changes the need for large print runs. Print-on-demand also means that older titles that might have gone out of print under the 1990s model can in concept remain in print forever.
  • Today, a news event can trigger immediate marketing and sales from the backlist. The emphasis here is on backlist. Such sales undercut the sales of new releases.

Let me add a few of my own thoughts:

  • Bookclubs – remember the book of the month club? – are much less significant than in the past.
  • Between the 1990s and now, several book chains and many small bookstores have disappeared.
  • With the proliferation of cheap books, either through services like BookBub or self-published authors or tools like Amazon Prime, libraries do not have the prominence with readers that they did in the past.
  • Big Box stores sell books at discounted prices. They are one distribution channel Amazon uses to sell print copies of their authors.
  • Through its own pricing strategies, Amazon is training readers to expect cheap books.

According to Mike Shatzkin, all of this means that the notion of ‘general trade publishing’ is almost an anachronism.

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M.K. Tod writes historical fiction. Her latest novel, TIME AND REGRET was published by Lake Union. Mary’s other novels, LIES TOLD IN SILENCE and UNRAVELLED are available from AmazonNookKoboGoogle Play and iTunes. She can be contacted on FacebookTwitter and Goodreads or on her website www.mktod.com.

She Says, He Says – Insights from Readers

Readers and writers – a symbiotic relationship. Ideas spark writers to create stories and build worlds and characters for readers’ consumption. Readers add imagination and thought to interpret those stories, deriving meaning and enjoyment in the process. A story is incomplete without both reader and writer.

As in other aspects of life, the Mars-Venus divide is evident in the reading habits of men and women. How different? A 2018 survey of over 2400 people from around the world offers a few answers.

  • Women read more than men– 60% of women and 29% of men read more than 30 books a year
  • ……

The rest of this article can be found at the Washington Independent Review of Books, a great place to discover information and news about books, writing, authors, book clubs, and other insights on reading.

FOR MORE ON READING & WRITING HISTORICAL FICTION FOLLOW A WRITER OF HISTORY (using the widget on the left sidebar)

M.K. Tod writes historical fiction. Her latest novel, TIME AND REGRET was published by Lake Union. Mary’s other novels, LIES TOLD IN SILENCE and UNRAVELLED are available from Amazon, NookKoboGoogle Play and iTunes. She can be contacted on Facebook, Twitter and Goodreads or on her website www.mktod.com.

Readers on reading

I’ve dug into responses from readers on the topic of why they are reading more or less than in the past. A little over 1000 people chose to comment on the topic. So here’s the original chart and a new chart showing reasons.

Are you reading more or fewer books than in the past:

Reasons for a change in reading habits:

By way of explanation (start at the top of chart and work clockwise):

  • Book Club – a number of readers said they are reading more because they’ve joined a book club.
  • E-books are easier – many readers are reading more because of e-readers AND audio books.  A number of readers say they love audio books because they can read while doing something else.
  • Fewer good books – some read less because they find fewer good books to choose from
  • Life changes – sadly, some of these are readers are experiencing health problems that prevent them from reading as much as they did in the past.
  • More social media – these are readers who are spending time on social media instead of reading books.
  • More time/Retirement – relatively self explanatory except to say that many readers have more time because their children are getting older 🙂
  • Other options – these are readers who mentioned doing other activities that have displaced reading in the way they spend their time.
  • Review books – a number of readers are reviewing books and/or have started their own book blog and hence are reading more.
  • SM gives ideas – some readers mentioned social media facilitates reading as a source of book related information and recommendations
  • Too busy – many readers cite jobs and young children as a reason their reading is less than in the past

I don’t think there are too many surprises here although it’s interesting to see them categorized.

FOR MORE ON READING & WRITING HISTORICAL FICTION FOLLOW A WRITER OF HISTORY (using the widget on the left sidebar)

M.K. Tod writes historical fiction. Her latest novel, TIME AND REGRET was published by Lake Union. Mary’s other novels, LIES TOLD IN SILENCE and UNRAVELLED are available from Amazon, NookKoboGoogle Play and iTunes. She can be contacted on Facebook, Twitter and Goodreads or on her website www.mktod.com.