Markus Dohle, CEO of the biggest publishing house in the world, Penguin Random House, begs to differ. He has just told the Frankfurt Book Fair, the largest in the world, that:
1. cooperation with Amazon is essential: "Of course, we have to manage each other, on issues such as terms, but fundamentally, we are aligned."
2. self-publishing makes the role of publishers more important than ever: "people need orientation and guidance more than ever, and publishers can provide that."
Indeed, he sees "book discoverability" as the "the biggest challenge facing publishing", adding that a big publisher like Penguin Random House is "better placed on how to crack the code of discoverability, in a world where there are fewer bookstores".
I couldn't agree more and I have often blogged about how book discovery is the crux of the matter, especially in a world awash with self-published titles (see here, here and here). One major difference between a self-published author and a traditional publisher is that the former has no access to major literary journals and newspapers like the New York Times or major prizes like the Pulitzer Prize or Man Booker Prize, while the latter does, and how! The bigger the publishing house, the better...
What is your opinion? Is self-publishing for a writer who wants to reach his market really a working alternative to traditional publishing or is it just a mirage, fed by the personal pleasure of seeing one's book title on Amazon?
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World's Biggest Book Fair In Germany Targets Internet Giants(medindia.net)
Comments
Yes, the digital-only presses are booming all of a sudden, and like you, I'm not at all sure it works. There's something illogical about this: 80% of the market is STILL in printed books! So unless these presses also open the doors to the printed market - including giving access to literary awards - there doesn't seem to be much of a reason to go down that road.
Because, as self-published authors, we've grown pretty used to publishing our own stuff with the help of Smashwords and Kindle Direct Publishing. There's no obvious reason to give up one's share of profits unless the publisher in question is capable of a fantastic push lifting the book into the top 100 on Amazon.
The biggest hurdle facing self-published authors remain reaching out to the printed market...something Amanda Hocking understood very well when she accepted St. Martin's Press offer: she'd been a raging success digitally, but it didn't count for much (especially then) when the digital market, it's fast growth notwithstanding, is still a minor part of the market.
So, for the moment the door is closed on self-published authors if all they do is publish printed books with CreateSpace. One needs to get into the Ingram distribution system, the only one bookstores use to order their books: to carry your books, they need to be given a deep discount (from 40 to 55% - better 55%), and they don't get it from CreateSpace. Who knows whether Amazon will change its policies and help self-published authors spread into the printed book market...
Self-publishers need guidance, but trade publishers are not positioned to profit ethically by providing that guidance. If a big publisher thinks a book will sell, they BUY IT; they don't guide the author to independent profitability.