The traditional publishing industry is a monopoly. This behavior has stymied innovation, and it's only getting worse. For over 200 years, a small number of big names in the industry have been the main publishers of books. Wiley, which opened in 1807, is just one of the traditional publishing industry players born in the 1800s & 1900s that are still the dominant forces today. Consider also: Penguin Random House: 1927 Simon & Schuster:1924 HarperCollins Publishers:1817 Wiley: 1807 Macmillan: 1843 Hachette Book Group: 1826 Additionally, industry giants are leaving little space for a new model and keep getting bigger, leaving no room for the common person. You can look at the recent attempted merger between Penguin Random House and Simon and Schuster as a sign of what’s to come—big names coming together to take over the industry. Unless we change it. I meet traumatized authors almost weekly. In late December, I'll never forget the conversation I had in a coffee shop. The author had poured in every ounce of their being to bring their book to life. They had expected publishing to be their big break, for the top tier publishing house to do what they promised to market the book and drive speaking engagements, only for the author to be let down and have to pay for their whole book tour themselves – draining their savings and going through emotional turmoil. And this story should not be so common. But this is what happens when the system today is a factory that produces only a few lottery winners. The truth is 90% of authors sell less than 100 books.? To be published by a crown jewel publishing house mentioned above, you have to be connected with an agent.? The odds of getting an agent are 1 in 6,000, yet to do it right in traditional publishing, you need an agent to help you breakthrough. ? That is a .00016% chance of finding an agent to give yourself a chance to be heard. And even if you do breakthrough, you're not prioritized as an author unless you have a proven track record or a big name. People spend so much time trying to be admitted into a publishing house, only to have a big name on their publishing belt, with often little marketing investment from their publisher or a roadmap of how to self-sustain beyond book launch. You’d think after hundred-plus years, there would be more clarity. But there isn’t. Here's the gap that is often missed: People aren't just authors. Books are extensions of people. And people with dreams, who have messages, deserve long-term focus, or what we call Arcs. There needs to be a better solution. And we are building that innovative end-to-end solution at Arcbound helping people stand up their brand, develop a quality thought leadership presence, ghostwrite their book, publish it, drive PR placements, and get them on stages? -- in a way that drives proven, meaningful, and repeatable ROI. Follow me here and bryanwish_ on Twitter for more on #publishing, #PR, and #books
I believe you've missed the mark on this. Innovation in publishing is alive and well, up and down the entire value chain. My 36-year career includes stints at two of the above-mentioned companies, and I currently serve as President at the first hybrid house in the country (founded in 1994). A number of nimble publishers like us have been flexing the business model for years, arriving at agreements that put not just the payback rates and subrights on the table, but ownership of the IP as a whole. Once you look at the business of publishing as a mechanism that can switch between running as a service platform and running as a product company, lots of ideas open up that don't seem possible at the large houses "burdened" by the inertia of their massive backlist.
Brian - My personal experience while on this journey and why I landed on you and your team. I find it so interesting that 90% of people sell less than 100 books. Given this, it seems odd that anyone would be fighting to find a way to work with a publisher and deal with that disappointment. That sounds shallow and something to feed your ego. In today's world with access and resources being so open sourced, it suggests that one should find a partner who understands them personally. Someone who listens to understand, cares about the long term relationship, and is there for more than selling books. Making a living is one thing, but living your values is another. I guarantee you will sell more books, feel more fulfilled, and build a life of significance. Keep building your model and don't lose your purpose and people will realize that Arcbound is a place to be connected to.
I forget who I was reading but the author, a marketer, highlighted that their publisher had them under contract and promised to do their marketing. The marketer, knowing this was bad, marketed it himself. He tracked attribution (as best he could at the time), and he highlighted that all the books sold (around 6,000) was due to his efforts-which the publishing agency took credit for.
Bravo for raising this critical matter. Contemporary publishing houses with their inaccessibility, slathered in a buckshot prize culture, are no longer thought leaders. Read their dust jackets and search (in vain) for credible witnesses locating authors among the deep issues of the day, philosophically, existentially. The search for an "agent" is stupidly wasteful. The cranky agents in our terrain have the luxury of zip competition. They eschew "over the transom" submissions routinely. Worse, young, outsourced whipper-snapper editors often lack literary sophistication, broad reading and life experience to propose much of artistic value. Aspiring writers give up on the game, and turn to self-publishing or return to vigorous little presses whose relationships with authors are robust and passionate. In my experience, they routinely sell many more than the paltry 100 you report. Few book chain rascals(another dulling, dumbing down ingredient in contemporary letters) know how to celebrate writers outside the prize parade. Another variable: literary critics and powerful reviewers remain in hiding. Giants like Perkins, Bulwer-Lytton, Brod, Foster Wallace, Hughes, F.R. Leavis, Ransom and Brooks are rare, rare.
Well I keep telling you I have a book in me Bryan Wish. I'm just holding out for Penguin! ?? It's a consistent problem across the board and why it's so difficult to get yourself out there when the bottom and top line is always $$$. You know I have always been a proponent of your work from the moment we met and love watching the twists and turns you're open to along the way in helping others "get out there" and have their voice heard!
Bryan Wish - I am a long time lover of books and this startling information should make everyone sit up and understand that books are one of the few ways that a person can truly express themself in long form. Books also provide an opportunity for a reader to connect on their own time, form their own opinions and sometimes even temporarily escape from the day. Truly grateful that you are on a mission to help authors everywhere!
Excited to see what you’re doing to change this. There should be a better way for authors to get their work out into the world.
The publishing industry seems to be an ancient nightmare. It's good to see you recognizing a modern approach is needed.
Independent Scholar and Author, Publishing Consultant, Author, Private Tutor
1 年Twenty years time? Well.. twenty years ago I was President of the Board of what was then the Publishers Marketing Association.. which even then had 3500 members doing their own publishing. We were certain that the 'traditional' model would change, and that Amazon would be one of the leaders in that regard by changing the entire supply chain model and then plotting a path to self publishing for anyone. And it happened. Two million new ISBNs this year! The options are absolutely there - follow the traditional path or find your own path. Either way, yes an author has to do a lot of the promotion work themselves - I really don't see the issue with that. The model well and truly exploded. It isn't perfect but it sure isn't 1995 either.