I read an article about a speech Simon & Schuster president and CEO Carolyn Reidy gave at a publishers’ convention. She mostly talked about the state of the industry and how publishers have to find ways to cut costs. Then she said a couple of interesting things. First she mentioned “powerful retailers who have ambitions to be publishers.” Does she mean Walmart and Costco? How would they make the transition? They would need big-name authors to sign directly with them, and they would have to allow distribution in bookstores as well. But this could happen, especially with nonfiction authors.
Then Reidy talked about self-publishing and wondered, “is it only a matter of time before one of the major authors actually strikes out on his or her own?”
That would be an interesting development. What would motivate a best-selling fiction author to step away from his/her publisher and self-publish? An opportunity to make more money? Probably not. If this ever happens, the dispute will likely be about content. Maybe the issue will be an entire story that the writer wants to bring to market, but the publisher won’t because it’s controversial or outside the writer’s genre. Or maybe it will be an environmental issue. An author who refuses to have his book published in hardback form because so many are returned and shredded. And his publisher won’t concede, so he self-publishes in trade paperback with smaller print runs that sell out each time.
What if such a venture proved successful, and the author was able to reach a wide audience and make money? Would more authors follow? What would it mean to the industry? Would publishers change their business model to keep authors onboard? Would it finally blur the distinction between traditionally published and self-published authors? And who will be first? Stephen King has already stepped out on his own with serial e-content (and made money), and I believe in time more authors will do the same.
It’s fun to speculate. What do think?
6 hours ago