The market is likely to shift into two tiers, "branded/high-quality" and "cheap/good enough," predicts author and lecturer Seth Godin. Mainstream publishing houses have long depended for much of their profit on selling backlist titles, books in print for more than a year. In coming years, there will be adequate substitutes for many of those works at a quarter of the price, he says.
"Not for the books of J.D. Salinger or George Orwell, but for a book on stretching, certainly," he says. "And books on stretching have long helped pay the bills at many publishing houses."
via online.wsj.com
True, there are also lots and lots of web pages on stretching.
Interesting overview of "vanity publishing" in the WSJ. Seems to me that term "vanity" is one of those that the establishment likes to throw out to dismiss work much like they use "blog" to denigrate competing forms of journalism. Not to long ago in the scheme of things, all books were self-published as authors used to pay booksellers to print their books. To finance those often subscriptions were sold. It was an entrepreneurial venture and could have used a service like Kickstarter. In a way more and more my friends who are published by big houses are taking part in that same system as they hire their own publicists, pay for the photos, copyediting and websites, in order to help their books succeed. It is true that they are not taking on the risk of printing and are getting advances rather than taking the risk. Some of them have expertise and reputations in their subjects that they might do better publishing on their own and distributing their books via Amazon and B&N directly but I think they like the status of being published by a Publisher and won't try it.
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