THE STATE OF PUBLISHING–2017
Publishing has probably never been more confusing, in part because people hold onto long-standing prejudices and stereotypes rather than looking at the facts. Well, that’s not the Red Sneaker way. I want you to have the most satisfying and successful writing career possible, and that means keeping one eye on your work and the other eye on the world. Some long-held beliefs are simply no longer true. When you prepare to make critical career decisions, what to write, where to send it, you need facts. Accurate information can help answer a lot of your questions. For instance:
Should I seek a big New York publisher, or a small press, or self-publish?
First let me say, as I have said before, that you must do what will make you happy, what will make you feel successful. That said, let’s look at the facts. According to the most recent Author Earnings report, the Big Five New York publishers’ market share is declining and will likely continue to do so in the years to come. By contrast, independent presses, self-publishers, and Amazon imprints (more on those later) comprise over 50% of all book sales. Old stereotypes such as “the best books get picked up by New York” or “bookstore books are superior” are simply no longer true. Given the small market share they have, bookstore sales have become the tail wagging the dog. Most people buying online don’t care who published a book and don’t care whether it’s in bookstores. They just want a good read.
Here’s what Jane Friedman wrote in her blog: “I think it will be a lackluster and perhaps soul-searching year for traditional publishers. The “print is back” fanfare will diminish, with Barnes & Noble continuing to remain flat or decline, and Amazon further gaining market share across formats….Without smarter ebook pricing, traditional publishers will continue to see flat or declining sales in that format.”
There are advantages to having the backing of a New York publisher–and disadvantages too, particularly in the royalty department. What is clear is that it is not the only way to go. Figure out what will be best for you and your work.
Do I need an eBook edition? Do I need a print edition?
I like print books too, particularly hardcovers. I’m old-fashioned and I just get more out of that reading experience. But since our goal is to be successful, not just to please ourselves, let’s look at the facts. According to the most recent DBW White Paper, in 2016, over 70% of all adult fiction sold in the eBook format. That is expected to grow, not diminish, in the years to come. eBook reader sales also continue to grow, and more readers means more digital sales. So no, if you’re writing adult fiction and you’re hoping to reach readers, you can’t skip the ebook. You might be okay without a print edition (though it’s not hard to set that up at CreateSpace, whether you think it will be massively profitable or not).
If you’re writing for children or writing nonfiction, your situation may be somewhat different–but I still wouldn’t skip the eBook.
Is Amazon a major publisher?
A strong argument could be made that Amazon is THE major publisher in the US. It now has thirteen different imprints, covering virtually every imaginable genre, and the Kindle Scout program opens the door to anyone who can mount a successful campaign. In 2016, 7 out of every 10 books on the Kindle bestseller list were published by Amazon. Overall, Amazon’s market share grew last year by 4%. No other publisher even comes close.
This just makes common sense. Like every other publisher in America, Amazon favors the product in which it has a vested interest, both in its promotions and its positioning. If you can make Kindle Scout “crowdsourcing” work for you, do it. If not, tie your book to a similar successful Amazon-imprint title in your marketing, so in time it will appear on that book’s page as a “People Who Bought This Also Bought” title.
With all the books out there today, how do I draw readers to mine?
Two answers here, both obvious:
1) Write it well, and
This may seem simplistic, but those are in fact the correct answers. As the Amazon store is increasingly filled with eBooks, the books that attract the most attention will be the ones that please readers (because they are written well) and the ones that have authors willing to spend time and occasionally money on marketing.
Once upon a time, every successful writer wanted a personal assistant. Today, the smart ones hire a book marketer. Using email, search engine optimization, and social media is more effective than any previous book marketing ever was–but it does require time and knowhow. Most writers would rather be writing. But I suspect that in the long run, this is what will separate those who sell well from those who don’t. So I’m going to devote the next several entries in my blog to marketing. Get the app and check it out. And follow what my wife Lara is doing with her new novel, The Wantland Files. She’s mapped out a six-month marketing plan that’s a virtual textbook on modern-day marketing, starting with the online launch party on January 21. Click here to see how it’s done.
(A longer version of this post appears in the most recent edition of the Red Sneaker Newsletter email. If you’re not on the distribution list, sign up here.)