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Steven Lyle Jordan · 03-27-2010, 10:02 AM

A recent TeleRead thread has been discussing the new publishing model of the new world. It uses the "buggy whip industry" metaphor to demonstrate how businesses dedicated to one product didn't go out of business, but retooled to sell new products for the rising auto industry... from buggy whips to leather seats and steering wheel covers.

The resulting discussion has suggested ways in which the publishing industry could retool themselves to satisfy the new era. My own suggestion takes advantage of the idea that the pub industry should be giving up on the idea that they are making money off of consumers, and embracing the idea that they would make their money in the future off of the authors themselves... their new market.

Think of the missed opportunity publishers are losing in the present system... and it's in those slush piles. Instead of "cherry-picking" the pieces worth their time to sell through their current process, they could be taking on all of the material in the slush piles... providing service to the authors to improve and package all of those books, and make money directly from the author... then let the author worry about selling the book on the market.

Imagine making money off of those thousands of slush pile books, instead of just a handful of accepted books. And it would be guaranteed income, up front, from the authors. Much of the risk involved with current publishing (printing, inventory, pricing, remainders) would be gone... the only trick would be promoting their services to authors to keep steady business coming in.

Taking the present risk of the market, handing that risk to authors, and getting direct up-front payments for their work from a vastly larger number of clients, instead of the fickle public. What publisher wouldn't want to do something so sensible? What author wouldn't jump at the chance of having their work improved for them, so they have a fighting chance of getting it out to the public? What would happen to the present print-based book, so wasteful and expensive compared to digital products?

Comments are invited.

03-27-2010, 10:02 AM	#1
Steven Lyle Jordan Grand Sorcerer Posts: 8,478 Karma: 5171130 Join Date: Jan 2006 Device: none	The new publishing business model A recent TeleRead thread has been discussing the new publishing model of the new world. It uses the "buggy whip industry" metaphor to demonstrate how businesses dedicated to one product didn't go out of business, but retooled to sell new products for the rising auto industry... from buggy whips to leather seats and steering wheel covers. The resulting discussion has suggested ways in which the publishing industry could retool themselves to satisfy the new era. My own suggestion takes advantage of the idea that the pub industry should be giving up on the idea that they are making money off of consumers, and embracing the idea that they would make their money in the future off of the authors themselves... their new market. Think of the missed opportunity publishers are losing in the present system... and it's in those slush piles. Instead of "cherry-picking" the pieces worth their time to sell through their current process, they could be taking on all of the material in the slush piles... providing service to the authors to improve and package all of those books, and make money directly from the author... then let the author worry about selling the book on the market. Imagine making money off of those thousands of slush pile books, instead of just a handful of accepted books. And it would be guaranteed income, up front, from the authors. Much of the risk involved with current publishing (printing, inventory, pricing, remainders) would be gone... the only trick would be promoting their services to authors to keep steady business coming in. Taking the present risk of the market, handing that risk to authors, and getting direct up-front payments for their work from a vastly larger number of clients, instead of the fickle public. What publisher wouldn't want to do something so sensible? What author wouldn't jump at the chance of having their work improved for them, so they have a fighting chance of getting it out to the public? What would happen to the present print-based book, so wasteful and expensive compared to digital products? Comments are invited.