Eight Insights into the Publishing Industry

Apr 3, 2011
Judy Haar

Things of the Past - nuchylee

What is happening with the publishing industry today? It's changing in a big way. Read to get some tips on what direction it may take.

Ever wonder where the publishing industry is going? If you're a writer, you should. But in 2011, this is an often asked question. Where is the publishing industry going? The answer isn't easy, but one thing is for sure, the publishing industry is in a state of turmoil.

Yes, books play an emotional part in our lives. We grew up holding a bound book, flipping the pages. We shopped at the local bookstore to buy the books we loved to thumb through. But all this is changing right before our eyes. With the advent of the internet and the digital age, the book business is changing forever. Technologies such as e-books, print-on-demand and on-line publishing are a growing development in the industry. Let's take a look at some of the facts which may help you, the writer, plan your future.

According to the Association of American Publishers, e-books and downloadable audio books are growing. For the first month of 2011, e-book sales increased by 115.8% while traditional hardcover books fell by 11.3%.
CEO of the largest Christian publishing company, Michael Hyatt shares his thoughts but his projections sees text, audio and video combined for the next generation of newspapers, magazines and books on a digital format. Look at the video to get a feel for what is coming.
According to Bowker, the leading provider of global book information, e-books as of October 2010, over a three year period, ranked 1500% in growth.
Magazines are starting to get into e-books. As referred to in Publishers Weekly, Vanity Fair released its first e-book on Elizabeth Taylor.
Print-on-demand provides an avenue for the small press to produce specialty books without carrying inventory. It answers the issue of speed with no inventory costs.
Unlike hard copy books, e-books are forever. While printed copy has a limited earning time, e-books can earn royalties as long as the book sells.
According to Writers Digest, the role of the publisher is changing. Each author will decide if the value of a publisher and associated costs can add value on the digital side. Maybe not.
Fee-based services such as self-publishing, may have to change to stay alive. Authors are now looking at alternative and less expensive ways to publish.

The advent of the digital age has changed the publishing industry forever. Disagreement abounds, and who knows what the final outcome will be, but all agree it will be dramatic. Some predict self-publishing press costs will become low with e-books taking center stage. E-books are becoming the new distribution for writing and earning authors money.