Tag Archives: Self-publishing

Only 40 Self-Published Authors are a Success, says Amazon

The cat is out of the bag, finally we know exactly how many self-published authors make it big: 40.

Yes, that’s not a typo.

40 self-published authors “make money”, all the others, and they number in the hundreds of thousands, don’t. This interesting statistic, recently revealed in a New York Times article, applies to the Kindle Store, but since Amazon is in fact the largest digital publishing platform in the world, it is a safe bet that self-published authors are not doing much better anywhere else.

“Making money” here means selling more than one million e-book copies in the last five years. Yes, 40 authors have managed that, and have even gone on to establishing their own publishing house, like Meredith Wild. Her story is fully reported in the New York Times, here, and well worth pondering over. And wondering what “making money” really means.

That story reveals some further nuggets about the current fluctuating state of the publishing industry: it seems that last year, a third of the 100 best-selling Kindle books were self-published titles on average each week. Conversely, that means legacy publishers only raked in two-thirds. Perhaps this is not such a surprising result, given their habit of pricing e-books at stratospheric levels, from $12 to $16 or more compared to self-published authors who deem that $3 to $5 is the “right” price…One has to wonder why publishers do this, even at times pricing e-books more than their own printed versions of the title. Perhaps they are afraid of digital?

The digital market is indeed scary, primarily because of its dimension: over 4 million titles today in the Kindle Store, compared with 600,000 six years ago (again, the data is from the same article). This means “book discovery” has become the number one problem. How can your book stand out in such a vast crowd?

There are many answers in the industry (and savvy marketing certainly has big role), but some of the more ground-breaking solutions come from the successful self-published authors themselves, like Meredith Wild and a few others that have (more or less) followed her example, like Bella Andre, Barbara Freethy, H.M.Ward, C.J.Lyons. They have struck deals with Ingram Content Group, a major book printer and distributor, thus getting their novels in bookstores, big-box stores and airports. Because,let’s face it, when you’re selling big in the digital market, you don’t want to lose out in the printed one: 36% of book buyers still read only print books (according to a 2015 Codex Group survey – for more about how print books hold their own, see this article).

What does this mean in terms of the future of the industry?  According to David Montgomery of Publishing Technology:

“There isn’t one book market anymore: there are two, and they exist in parallel. One continues to be dominated by major publishers, and increasingly uses agency pricing as a strategy to support print book sales. The second publishing market is almost exclusively made up of e-books, and is driven by Amazon-published and KDP content sold at a substantial discount to the product produced by traditional publishers.”

And he foresees a growing divide in 2016 between the two markets. Yet the success of Meredith Wild and the other authors like her suggests that something else might be happening: self-publishing could be encroaching in a territory that used to be seen as exclusive to legacy publishers.

Time to celebrate? Not yet. There is a caveat and it’s a big one: only 40 such authors are likely to bridge the divide. In fact, writing is a poor man’s occupation. As Publisher’s Weekly noted in an article published last year: the majority of authors earn below the poverty line. The statistics are grim:

Given that a single person earning less than $11,670 annually sits below the poverty line, 56% of respondents would qualify, if they relied solely on income from their writing. The survey also indicated that not only are many authors earning little, they are, since 2009, also earning less. Overall, the median writing-related income among respondents dropped from $10,500 in 2009 to $8,000 2014 in 2014, a decline of 24%. (highlight added).

That’s way below the poverty line! Small wonder that most authors depend on another job to survive…

So if you’re not selling your books, take heart, you’re not the only one. If you’re considering becoming a writer, think twice, it won’t make you rich. To be honest, if I could do my life over, I wouldn’t go into writing (though I love story-telling), I’d go into…film making! That is the art of the future, people don’t read books, they go to the movies, they binge on TV series, they play video-games. And in all these – movies, TV, games –  good story-tellers are more needed than ever

No, the art of writing is not dead, it is just undergoing a change of venue!

 

NOTE: This was published over a year ago and has garnered more comments than any of my blog posts has ever done before and I warmly thank my commentators including those who didn’t agree with my reading of the data – no doubt this avalanche of comments is a testimony to the (high) number of writers (self-published and non) wondering where they stand and what they can expect from a writing career. Bottom line: if you enjoy writing, just do it and don’t worry whether it’s going to bring in the bacon or not. One thing is will do for sure: it will make you happy. And that’s worth far more than any money you might ever make…Happy writing!

 

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2016: The Year of the Writer?

There are signs that after the dramatic 2009 digital disruption that brought in the self-publishing tsunami, the publishing industry is stabilizing. And Kristine Kathryn Rusch, a best-selling author and dispenser of cool, much sought-after advice has even decreed on her blog in a year-end post, that 2016, is going to be “The Year of the Writer”.

Kristine Kathryn Rush’s blog, click here

Hooray! Or is it too early to celebrate? KK Rusch notes that in 2015 a lot of indie writers suffered from burnout (disclosure: my case too). But she has words of wisdom to soothe the pain:

If you’re destined to be a career writer, you’ll come back to it—or rather, it’ll come back to you. One day, a story will pop into your head, a story that needs to be told. I just got an e-mail from a long-time published writer who said that very thing. For the longest time, he thought he was done writing, and now he’s turning his attention to a new novel.

So nice to hear I’m not the only one (and yes, now too I’m turning my attention to a new novel).

So why this high rate of burnout in 2015? Simple: because of marketing pressures:

  1. You have to market your book in every possible way, Twitter, Facebook, book tours, Goodreads, you name it – exhausting;
  2. You have to write your next book in the series – yes, it’s a series of course, the best way to keep your readers glued to your books – and you have to do it as fast as you can, you’ve heard that best-selling authors come out with a new book every three months (yikes, how do they manage that?) – even more exhausting, especially if coupled with (1) above.
No surprise then that authors collapse.
But as KK Rush says, why do it? The solution to burnout is simple: write what you want. And, as she notes:

It does take courage to write what you want. To follow your own creativity and see where it will lead you. To walk down a path that doesn’t exist yet.So maybe I should modify my conclusion and call 2016 the Year of the Courageous WriterBecause we’ll be seeing a lot of courage in print this year.

Ready to be courageous? Ready to do your own thing?

Well, maybe not quite yet. Also, there are many ways to deal with burnout. For example, you could step sideways – move into non-fiction. That’s what I did: since 2014, I’ve moved into a lot of non-fiction writing (mostly articles about the United Nations) and working as Senior Editor for Impakter – and it’s been a wonderful experience, I’ve come across a lot of new, hugely talented young writers contributing exciting articles to Impakter.

Impakter – The United Nations section, click here to see.

Meanwhile the number of readers on Impakter has grown exponentially, to the extent that it has become a lead magazine for Millennials, even exceeding the New Yorker…That has made my experience with burnout as a fiction writer a lot easier to bear!

But KK Rush does not stop there in her predictions. She has just published a fascinating analysis of what went wrong: “Business Musings: The Reactive Business Model“. What she is arguing is that traditional publishers, starting in the 1970’s, have been “reacting” to surprise best-sellers by imitating them.

In order to survive commercially, they’ve churned out as fast as they could books that are as close as possible to the surprise best seller. And now, indie writers have fallen in the same trap, writing in the genre that supposedly “sells”, following as closely as they can the example set by best-selling authors. And you get a slew of would-be Hunger Games, slavishly applying what KK Rusch calls the “reactive business model”. And she predicts:

More and more indie writers will leave the business if their business plan is based on the Reactive Business Model.Traditional publishers have forgotten that they used to partner with writers. Writers created the material and publishers published it to the best of their abilities. Because traditional publishers are owned by large corporate entities, the pursuit of profit has become the mantra, and if an imprint isn’t profitable in the short term (five years or so), it gets absorbed, replaced, or dissolved.
Indie writers don’t have to follow that model—and shouldn’t. They need to go back to the old model.

And of course, the “old model” – the reason writers abandoned traditional publishing and went down the road of self-publishing in the first place –  is exactly that:

Write what you want to write. Don’t think about marketing until the project—whatever it is—is done. Then consider how to market the project. Be creative in the marketing too. Don’t just imitate what was done before.

Wise words, no doubt about it. And when writing your next book, she warns:

 “Don’t act like traditional publishers and manipulate your next book to be like someone else’s success. […] Move forward in your career. Don’t look back. Following the Reactive Business Model is by definition looking backwards.

Definitely good advice.

I would only add: don’t worry about marketing at all.

I know, this may sound counter-intuitive in a time when book discovery has become incredibly difficult given the large number of available titles – more than 4 million in the Kindle store alone.

The theory that the “cream rises to the top” and that the best books will be inevitably discovered has proved wrong time and again. A book, to be properly launched, needs strong marketing. A push. And of course, be ready to do it when the time comes but don’t overdo it, and especially not at the expense of your writing time.

You can always do some more book promotion later, if and as needed. It may take longer for you to be recognized, but at least in this digital age, indie writers have an advantage over traditionally published authors of the past: their books don’t disappear from book stores after three months, digital versions stay in the cloud forever, they have a so-called “long tail” that is (eventually) working for them.

This simple technical fact ensures that your books remain available on Amazon and other platforms as long as you, the author, don’t retire them.

So hang on in there!

And Happy 2016!

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Amazon Has Done It Again for Self-Publishing!

The wonderful case of Swedish self-published author Carl-Johan Forssen Ehrlin is there to prove it! Thanks to Amazon, this author, a psychologist who has founded a psychological coaching company and published several “help” books in various genres since 2006, has hit the jackpot.

News came out in this summer that something strange was happening on Amazon’s printed books best selling list: big best-sellers from established authors (like Harper Lee‘s Go Set a Watchman) were being displaced from their top position by a book for children from an unknown Swedish author with the weird title The Rabbit Who Wants to Fall Asleep – a book specially designed to lull restless children to sleep.

The news were repeated in the press both in America and in the UK (for example, here and here, both pieces dated August 15) and now the New York Times has just learned that in September Mr. Forssen Ehrlin had landed a juicy deal for multiple books, including re-issuing his first book unchanged (but on better quality paper), with one of the Big Five: Penguin Random House no less.

The interview he gave to NYT is an eye-opener. Curious? You can read it here.

So what is the secret of Forssen Ehrlin’s success?

To begin with, a huge number of readers’ reviews – now already over 900 on Amazon.

Next, a well-orchestrated presentation. The NYT felt the illustrations looked a little “amateurish” – perhaps they do, but Penguin Random House is (wisely) maintaining them and (I personally think) they have a lot of charm, and obviously a lot of readers have felt the same way. As they say, if it ain’t broke, don’t fix it.

Also, an attractive, professional author website. Take a look here and see for yourself. The site is as much about the author as it is about his books, well balanced, convincing.

Last but not least, an unique sales pitch. The author presents himself as a trained psychologist and life coach, someone “in the know”, who can help parents in the delicate task of relaxing their children at bedtime. His book meets a broadly perceived problem, et voilà, you have a best-seller on your hands, with desperate parents loading up on the book!

Perhaps the most extraordinary aspect of this story is the fact that this is NOT A KINDLE SUCCESS STORY. It’s a Create Space success, Amazon’s service for self-publishing printed books. 

We’ve been used to read about Amanda Hocking, Bella Andre and Hugh Howey –  they all made it first by hitting the Kindle’s best selling lists.

Carl-Johan has done it differently, with a printed book.

And, not content to break new ground format-wise, he’s done it genre-wise too. This is not a romance, this is not a thriller or science-fiction, it’s a children’s book.

Congrats Carl-Johan, well done!

 Carl-Johan Forssen Ehrlin’s website (Screenshot)

PS. This story can also be construed as another confirmation that the digital format is not particularly adapted to children’s books. Mr. Forssen Ehrlin was wise to choose a printed book format, that is what parents want to do with their children, sitting on their bed after dinner, thumbing a book…

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2015: New Challenges in Publishing

https://claudenougat.files.wordpress.com/2015/01/7a36f-zuhano.jpg?w=500

Now that the dust has settled on 2014, we begin to see what 2015 will bring. Is the e-book market crashing? Too soon to say, but there are some worrying signs of trouble. Here are the most likely:

1. A growing glut in books. The fast growth in titles in the Kindle Store will continue unabated: in August 2014, the number of books available was around 3.3 million, now, six months later, it’s getting to 3.7 million (as per the data available in the Amazon Associates search box; I just checked, the exact number of e-books is 3,647,578). At this rate, expect it to get close to 5 million by the end of this year.

2. Adding to the overflow in everyone’s Kindle is the fact that traditional publishers have now woken up to the market-effectiveness of low-priced e-books.

That’s a big change for 2015. Low prices and going free were the marketing strategies of choice for indies – no more. And Russell Blake was one of the first to catch on to this change (see here).

Big Publishers are no longer afraid that e-books will “gobble up” sales from their printed books. They’ve finally understood that e-books are no threat simply because they are not the same product. A printed book is an object, something you show off to your friends, give your family or use to scribble comments in the margin. An e-book is not an object, it’s a reading service: it’s hard to give as a gift (though it can be done) and it’s not even clear if it’s something you can bequeath to your children when you die. So now self-published authors must bear the onslaught of low prices on current New York Times best sellers – and that already happened at Christmas when Amazon showcased on its website a big sale of Hachette’s best sellers at $2.50 apiece.

Life was always hard for new self-published authors who had to withstand competition not only from the traditional, established “mega sellers” but from fellow “midlist” authors with huge back lists to self-publish and a big fan base acquired in earlier days when they were traditionally published.

Now life has just become a lot harder.

3. A breakdown in the e-book market caused by book subscription services. The latest arrival, Kindle Unlimited (KU), with 700,000 titles that KU members can access for the modest sum of $9.99 per month, is the biggest, potentially a much larger market than the other two, Oyster and Scribd. It is also the one that happens to pay its authors least, provoking the ire of many indies that have decided to “leave” KU (to do so is simple: all an author has to do is to get out of KDP Select).

Some argue that both Oyster and Scribd that pay authors better don’t have a sustainable business model, yet Scribd just raised $22 million to fund its e-book service (see here). Scribd’s aim? To get on board “all the significant publishers”.

No doubt Amazon wants the same for KU.

Perhaps it won’t be so easy, as a result of the possible withdrawal of some best-selling indie authors, the likes of J.A. Konrath who trumpetted he left KU or H.M. Ward who announced on the K-boards that “KU crushed my sales”, as the New York Times recently reported (see here). But KU will no doubt rely on traditional publishers, not to mention Amazon’s own imprints, and one can expect that eventually, KU will contain plenty of NYT best sellers as well as a myriad of unknown indies and better known indies who have smartly cut up their longer books in independent sections, creating out of each title, 3 or 4 books, as Bob Meyer suggested.

The strategy to deal with KU is simple. For example, if you have a trilogy, put all the books of the trilogy into KU and keep the omnibus edition out. If you have serialized your novel, publish every episode as a separate book on KU and keep the omnibus edition out – and available of course in the Kindle Store and on all other platforms (ibooks, Kobo, Barnes and Noble etc).

The implication of this strategy?

Expect the number of titles available on KU to grow exponentially this year. And the pay-out per book read to drop (Amazon pays the author as soon as readers have passed the 10% mark). It’s now around $1.40 per book read – overtime, expect it to drop to around 50 cents and below.

Are subscription services, and KU in particular, like Spotify?  More to the point, should we expect the destruction of the book industry?

The answer is complex, KU is not Spotify, books are not songs. Printed books will survive, what is at stake here are e-books.

First, an observation. So far, indies who became best-selling authors usually made big sales thanks to their “voracious readers”, i.e. people addicted to a certain kind of literature, like the teenager who reads every western that comes out, or the lady who reads every book about zombies, regardless of whether it is written by a big name or an unknown author.

In short, “voracious readers” are the ones who have made best-selling authors out of indies. They’re the ones who, because of their reading habits, were always looking for low-priced books in order to stretch their budget as far as it would go. That’s why going free or setting your book at 99 cents worked so well during the “indie gold rush” that began in 2010 and ended now with KU. It is clear that those price strategies are not likely to work all that well anymore. You can try them for your books that are outside of KDP Select, but not for those inside (there’s no need). And voracious readers are not going to respond to your price campaigns because they are safely esconced in KU and have plenty to read. Indeed, even for them, their Kindle may start looking like it’s over-flowing.

But, hold your breath, there’s a silver lining to KU. For an excellent, balanced and dispassionate analysis, read Jake Kerr on the subject (here); he’s had experience with the music industry and is probably one of the persons best placed to understand what is happening.

Kerr points out that KU won’t really make that much difference to big names like Rowling or best sellers in a niche, but “of all people who should consider KU, new authors are the safest bets for making the most of it”. Why? Because, bottom line, it provides them with excellent exposure to “voracious readers”, the real beneficiaries  of book subscription services and the ones who are likely to stay in KU.

4. Book marketing strategies in 2015 will have to take into account the “non-voracious reader”, that kind of reader who is more picking, more difficult to convince but once convinced, more effective at spreading the word about a book in a convincing way.  And they care about what is said about the book by people who can make professional reviews.They are always looking for a good read but like to check out on the author, they want to hear what is being said about books in the media, they are out to pick the ones that give them something more than mere entertainment from a “genre” novel, they don’t want to waste time with poor quality books. These are people who probably are not going to join KU or any other subscription service. They read less and they read in many genres and they are demanding. They buy fewer books than voracious readers but they do buy books – maybe 5 or 6 a year – and when they do, they are ready to spend more on a book if they think it’s worth it. Price is less important for that kind of reader than content. And what is important to understand: These are the people that turn books into lasting mega best-sellers because there are so many more people like them than there are voracious readers, the voracious ones have always been in a minority.

In a way, we are back to the traditional publisher’s eco-system of literary critics publishing thoughtful articles reviewing books in the mainstream media (from the New York Times to Granta magazine).

This is why Amazon will have to consider doing something to improve the review system in the Kindle Store. Fellow readers have told me that on Amazon they tend to ignore book reviews.  Given the quality of reviews now, they’re probably right to ignore them.

So what’s the problem?  Amazon, so far, has relied on “customer reviews” and the only effort at identifying top reviewers is through the Vine Program  – unfortunately, if you check them out, you will see that those “top Vine reviewers” were not necessarily knowledgeable about books and literature; they just happened to reach the top because of all the other reviews they did on Amazon products, from cameras to jewelry. For example, one of the Vine Program’s top reviewers for books is someone who likes to read and reviews exclusively a sub-sector of science fiction, military sci-fi, and nothing else. That is fine, it’s his right to do so. It is clear that he enjoys spending his time reviewing products like electronic gear which he gets to try out than the (few) books he gets to read.

What Amazon needs to do is to pull together a body of top book reviewers, thus creating a special Book Vine Program, showcasing those professional-level reviews separately from customer reviews. If this were done, book reviews would really help readers in selecting the right read – something that doesn’t happen now.

The digital age so far has been in the hands of Amazon’s commercial eco-system, where books are ranked based on sales in real time – no doubt, an interesting statistic that appeals to the competitive instinct in human nature but that also has a practical use: it allows Amazon to efficiently organize its bookselling website. Makes sense: you search for your favorite genre or sub-genre by refining your keywords, and you get a list of the top best-selling titles in that particular area. But you’re human too, you don’t really read beyond the 25th title in the list before choosing something on the basis of a catchy book description (pitch). Fair enough and a rather clever way to organize a website. But more can be done by adding a new feature, a ranking based on professional-level book reviews – not merely a filter for selecting books that have 4-star-customer-reviews-and-above, as is the case now.

That’s just one thing Amazon could do. And it could do more now that the Amazon-Hachette dispute is settled. Expect growing cooperation between Amazon and the Big Publishers in 2015 and some big surprises – probably not all of them going the indies way, but some might, I’m keeping my fingers crossed.

And this gets us to the crux of the matter:

5. Book discovery remains the #1 problem, still waiting for a solution. Can Amazon propose a solution? I suggested above an upgrading in their Vine Program to make it more appropriate to the book market.

Surely more can be done – for example, in terms of more book fairs aimed at readers rather than at publishing professionals. Let’s make books fun to read! Let’s usher in the Age of the Enhanced E-book, mixing words with images, music and video! Let’s link with Hollywood, with the videogame industry, let’s expand e-book markets around the world, making it easier to buy digital…For example, Google books is using a better payments model than Amazon, easier to use for people who live in  countries like India, and that should probably be the payments model for the future.

6. The rise in tie-in novels. As Amazon famously pointed out to Hachette, books need to be priced low because they compete with other forms of entertainment, from video-games and TV series to sport and travel. But low-pricing is not the only rejoinder to that challenge. Remember the saying? If you can’t beat ’em, join ’em! That’s why you can expect tie-in novels to play an ever more important part in the industry, as the New York Times recently noted (see here).

As authors, we’ve always dreamt of seeing our work turned into movies, like the Hunger Games or Game of Thrones – this is the reverse: books are written after movies have become stellar, like Star Wars or the recent case reported by the NYT, Sons of Anarchy, that recently ended its 7-year run on FX and needed a boost from good old-fashioned books.

7. The world of self-publishing is changing fast and the gold rush is over.  Now everyone acknowledges this and it is no longer the subject of debate as it still was last year. Everyone has also become keenly aware that publishing is a fast-changing and highly complex industry, as it continues to be buffetted by the digital revolution (not least by KU and book subscription services). The way forward for aspiring authors is hard to see and they would be well-advised to carefully consider their options and not rush into self-publishing. This is precisely the kind of advice they can get from veteran blogger and best-selling author Anne R. Allen, see here. I recommend a careful read of that thoughtful post full of interesting information. It’s the first time I see what happened to the first generation of self-published stars like Amanda Hocking who, after selling a million copies on Amazon, had joined traditional publishing (with a huge advance that drew admiration from the press): we are finally getting the bottom line from an editor at St Martin’s press who confesses the disappointment of Big Publishers with their newly acquired self-published authors, saying they discovered the “market was tapped out”.

So, as Anne R. Allen puts it, “the self-published e-book is no longer the new query“. Even if you sell hundreds of thousands of copies, don’t expect a Big Publisher to approach you. And bookstore chains like Barnes and Noble and W.H.Smith and Waterstone won’t like you. Amazon is no longer the “indie playground it used to be”, bonuses are awarded to big star authors who belong to traditional publishers and Amazon imprints. Bookbub, the top advertising venue for indies, has become overrun by “trad pub” titles at the expense of indies. “Social media has been spammed to death. Facebook has become pretty much useless for authors” – and I would add, so has Twitter and Pinterest. The final, most striking comment comes once again from Bob Meyer who told the New York Times: “If you’re not an author with a slavish fan following, you’re in a lot of trouble. Everyone already has a ton of things on their Kindle they haven’t opened.”

In short, if you have chosen the self-published route, be aware that you have to stay in it forever (or change name and genre). You may never get the Pulitzer or the Booker, but you will probably make a lot of money. Provided you sell hundreds of thousands of books of course…So yes, don’t expect self-publishing to wither away, there are still plenty of self-pubbed authors who make a lot of sales (and money), particularly in well-defined niche genres (romantic suspense is probably the biggest, as Bella Andre’s success shows). But the days of the successful “hybrid” author, with one foot in trad publishing and the other in self-publishing, could be soon over. One of the main reasons why a self-pubbed super star went with a trad publisher was to get books in print and into bookstores – but that may no longer be needed with the recent improvements in Ingram’s services (see Porter Anderson’s interesting post on this, here).

Your views about the changes 2015 will bring? Please share in the comments. What else do you see as a big challenge in 2015?

 

Post-scriptum: To usher in the New Year, I’ve lowered the price of my latest book, Gateway to Forever,  at 99 cents. Wonder what that will do to KU (chuckle), but if you’re curious, you can see it here, and this is the new cover:

A love story set 200 years from now…

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Self-Publishing and Women’s Fiction, Hot Topics in International Writer’s Conference in Italy

As my friends in Rome know, I left town on September 24 to attend a very special writer’s conference held in the South of Italy, in beautiful Matera – now just nominated European Culture Capital for 2019. Self-publishing was amply discussed and we had several self-published stars, including Bella André and Tina Folsom, major editors from big US and Italian publishing houses, publishing gurus like Jane Friedman and David Gaughran, and literary agents from the US, UK and Italy. Here’s the article I wrote about it for Publishing Perspectives, just published today:

Italian Writing Festival Takes Women, Self-Publishing Seriously


Women's Fiction Festival
By Claude Nougat

After eleven years of uninterrupted success, the Women’s Fiction Festival in Matera – four days at the end of September, it closed on the 28th – has proven once again that it is unique in Europe.  It combines the best of American writers’ conferences and Italian literary events, drawing together the business side of publishing —literary agents, editors, translators and publishing gurus — with the creative side, both established writers and newbies, coming from Europe and America. And it manages to do this without turning into a mega, unmanageable event.
This year it was sold out. But it meant that only about one hundred lucky few made it, and for aspiring writers, it was a perfect occasion to pitch their work at agents and editors coming from the US, the UK and of course Italy.Small size is just one of the keys of the Festival’s success. The other is Matera itself, a UNESCO World Heritage site in Southern Italy, famous for its “sassi,” hundreds of cave dwellings. Some have even been turned into charming hotels though the “modern” town with its baroque churches and palaces may prove more comfortable to the less adventurous. The Festival is held in a highly suggestive environment, “Le Monacelle”, an ex-convent dating to the 16th century and restored in 2000. And that is surely yet another reason for success. The convent’s numerous reception rooms are all open to Festival participants, including a cloistered patio and a vast terrace with a fantastic view over the old town. A magic place! So much so that it has just been named by the European Commission to be “Europe’s Cultural Capital” in 2019, beating all sorts of other rival Italian towns, including Lecce and Perugia.

From left, David Gaughran, Ann Colette, Jane Friedman, Monique Patterson of St Martin's Press, Elizabeth Jennings

From left, David Gaughran, Ann Colette, Jane Friedman, Monique Patterson of St Martin’s Press, Elizabeth Jennings

A Festival Born out of Friendship

What however makes the difference is the original “business model” followed by the Festival. First conceived as a writers’ retreat, it quickly morphed into a sui generis conference. It all began with a “telephonic friendship” between author Elizabeth Jennings who lived in Matera and Maria Paola Romeo who was then editorial director at Harlequin Mondadori in Milan. As Elizabeth Jennings explains it, they were “chatting and talking about establishing a writer’s retreat in Matera, which is quite beautiful and quite conducive to writing.” But in so doing, they both brought their experience and contacts to bear with the result that Matera turned into a special meeting place for the literati on both sides of the Atlantic, something truly unique.

Elizabeth Jennings is a successful romantic suspense author who constantly travels to the US, attending major writers’ conferences. Maria Paola Romeo has moved on from Mondadori and has become one of the most successful literary agents in Italy and now founder of a fast-growing digital publishing house Emma Books focused on women’s literature in both English and Italian.

The rest on Publishing Perspectives, click here.

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Is Traditional Publishing Headed for a Smash-up?

Smash

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Dear Readers,

Some of you may know me from my site on blogspot.com and I’ll try to keep you posted on both sites, with comments on politics, books, art (everything I like) and economics (everything I dislike!) – in short, our world as I see it. But since this is just a bunch of personal opinions, you’re most welcome to shoot them down!

I love a rousing discussion!

Here is my take on what is happening to the publishing world as it has to face (and survive) the tsunami of the digital revolution…If you disagree, please make comments!

The sales of e-books have outpaced printed books for the first time this year at Amazon, the number one on line bookseller in the world. People are talking about the digital revolution being something as big, nay, BIGGER than Gutenberg’s invention of the printing press around 1440.  We’re into a new age, the possibilities are infinite, everything will change!

Does that mean that the printed book is dead and that traditional publishers are on their way out?

No, I don’t believe so. I am convinced the future of publishing is anything but bleak! By the way, I’m looking at it as an economist and political analyst – not as an aspiring fiction writer (which I also happen to be, but that’s incidental – for that matter, I’m also a painter – which has nothing to do with the argument at hand…).  I just wanted to point out that I’m trying to evaluate the situation in a detached, scientific way (hum, gasp, cough).

The first thing to realize is that e-books are NOT going to eat into the current market. The pie, with the advent of digital titles, will expand. E-books will add to the book market in general, bringing in lots of new readers – people who after a first jolly experience on their i-pad or kindle will go on to buy paper books for the first time in their lives! And remember, digital editions are forever. They’re not like printed books, sitting on your local bookstores shelves for a few weeks and then gone. E-books are FOREVER! Which means they are accessible, ready to be downloaded on your e-reader anytime. You don’t have to go to the book store to order and then wait for the book to be sent by mail. No, e-books are just a click away!

Second, as with any BIG change in an industry’s parameters, expect a wave of bankruptcies and consolidations. The biggest bookstore in the US, Borders, has gone into receivership which means, inter alia, that traditional publishers have lost miles of physical shelf space for their books. Talk of a tsunami! You can expect that over the next few years, even the Big 6 (the main American publishers) will have to reconsider their marketing strategies, their costs and do everything they can to ensure their survival – perhaps even move out (gasp!) of Manhattan! And expect some to go under. That may not be fun for those involved, but it’s physiological. When structural change comes to an industry, only the fittest survive.

Bookstores, however, are at this moment taking the brunt of the storm (as shown by Borders). They need to react ASAP and become more imaginative to turn themselves into welcoming places, like Starbucks and provide coffee to attract clients or organize conferences and local contests to engage the community. There are a number of bookstores of that sort in Europe, places that straddle the Internet and offer a haven to the local community, and they seem to prosper.  Advisory services could also be provided to their clients, things like advice on e-readers, the best apps, and help them locate interesting stuff to read on Internet – that is, turn themselves into “gatekeepers” of sorts, to guide people in the jungle of e-books.

Because it’s fast becoming a jungle: there are lots and lots of titles out there. If you look at the top 100 best-selling titles on Kindle, you’ll be amazed at the BIG proportion of self-published books – I didn’t count, but at a glance, it’s much more than half! To find “good” authors (in the sense of “good read”) is becoming a well-nigh impossible enterprise. I know because I do that repeatedly for my mother who’s 97 and an avid reader (she loves her Kindle). You get the feeling that the famous “slush pile”, all those manuscripts rejected by publishers and literary agents as “unfit to print”, all of them are suddenly on sale. And, perhaps more surprisingly, they are finding customers! Yes, people do buy these books! Sure, they’re priced at $O.99 so that’s probably why people buy them. But the more successful e-authors who started at that price, have found they could jack up their price to $2.99 and more (but always well under the $9.90 borderline established by traditional publishers) and still make money…in spite of the lack of editing, poor plot structure and typos… Which goes to show that a good yarn sells more easily than “literature”.

That may be a depressing thought for some but it’s definitely a golden opportunity for others: with the expansion of the book market, a lot of “unsophisticated” first-time readers have been drawn in, and they’re the sort of people who enjoy a good story and don’t care too much about how it’s told.

This means that one of the traditional roles of publishers of printed books, i.e. being “gatekeepers” to ensure a “minimum” level of “quality”, has been seriously weakened and others could jump in the void. Magazines and papers and blogs with a big following that review books are doing that job now, but why not bookstores? And the big bookstore chains could consider providing print-on-demand services for all things digital. Indeed, that’s where the real competition for printed books might yet come from…

To sum up: with the digital revolution, everybody’s role is changing, and it’s not just bookstores that have to rethink themselves. Publishers also need to reconsider their role. They often give the impression of being on the defensive as they progressively tighten their contracts with writers and lower advances. Six-digit figures are a rarity nowadays. Publishers even cut advances up in 4 parts, meant to follow the different stages in the publishing process, and that means you  get only 1/4th of your “advance” upon signing the contract.  Sure, this is a tough business, they try to get the most out of every deal. But writers are publishers’ natural allies: writing is the source of their business. So publishers need to realize that if they stop scraping authors naked, and instead treat them right, they will make of them faithful allies. I am willing to bet that the first publishers who realize this will see their prospects turn for the better real fast. And the first thing they should consider doing is giving authors a better deal on e-book royalties and making a better job of providing supportive book marketing. Because in this Internet age, the buzz word is king, and authors, through such important blogs as Writer Beware learn real soon who are the publishers to avoid…

Because e-rights are forever and more and more writers are realizing this. And more and more are unwilling to give up returns on their books forever  when all the publishers have done is a one-time investment in them. After all, the money you have to put up front to get yourself e-published is relatively small – just about anyone can afford to do it. Of course, not everyone has the necessary on line presence and the desire to spend all that time into marketing one’s book.

Most writers would still prefer to spend most of their time writing…

So there’s a glimmer of hope for traditional or “legacy publishers”. There will be more Amanda Hockings who after establishing themselves as self-published wonders (she made one million dollars in her first year of digital self-publishing), will be coming back into their fold. And there will be probably fewer Barry Eisler walking away from them. Remember him? He is that feisty writer who refused a $ 500,000 advance from St.Martin’s Press for two books. But then, on closer examination, it wasn’t really such a good deal: $250,000 per book minus the 15% going to his agent, plus the fact that he’d get next to nothing for his e-rights. And, remember, e-rights are forever!

The real challenge for legacy publishers will be the midlist authors who can make a big buck turning their back list into e-books. Joe Konrath‘s success is an example for all midlist writers. Publishers will just have to figure out a way to get into that juicy market – and they won’t get into it unless they bend their position on e-rights. They want too much for far too long. They really should consider another model, for example putting a time frame on e-rights and allow authors to regain them after, say, 5 years, but – and that’s an important “but” – with a renewal clause for another 5 years on condition that the publisher agrees to engage in some additional marketing. That would encourage writers to sign up with them rather than go the self-publishing e-route.

AND they need to provide a service of value to the authors, in particular marketing support (that’s something writers normally don’t like to do: if you’re a writer, let’s face it, you’re an introvert, you really don’t have a salesman personality…) Publishers could easily make sure their authors get reviews, and not any kind of reviews, but good ones from respected reviewers with a known and proven following.

And they could consider doing something else too, something no one talks about much because it’s scary: I’m referring to piracy. Yes, publishers could try and provide more effective means to fight off piracy. Individual authors are not well-placed to defend themselves and few are internet-savvy. To fight off piracy requires experts. Pirates – I mean hackers – are getting better all the time and a lot of people out there, a writer’s regular readers, don’t even think that downloading a book for free is a form of criminal offense. The author has sweated over writing his book and deserves a fair $ return for his pains. Let’s face it, pirate are pirates and should be jailed. Now, in the digital world, that’s hard to do and it requires huge means to properly police the Internet. And it means publishers and e-book sellers will have to work together.

Because, let’s face it, the biggest danger the digital revolution brings to the publishing industry is PIRACY! It might yet bring together everybody: Amazon.com, traditional bookstores, e-book platforms and publishers, both those into “legacy” publishing and e-books, for the greater good of authors and their readers…But then I’m an incorrigible optimist!


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