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I suspect that the pot of money being spent on writing will decline over the next few decades, with less money going to middle-men and what there is being spread out over a greater number of authors.
I don't think there's a traditional creative endeavour with a lower barrier to entry than writing, while the competition for people's attention grows more intense every year. Social media appears to have displaced video games as the latest distraction. In combination I think this tends to de-value reading as a hobby, and that will be reflected in revenue. I suspect the average price of paid ebooks will rapidly approach 99c across the board.
Just compare the attention you can get putting a video of your cat on Youtube, compared with spending two years writing and editing a novel. Orange and lemons but there's only so much time to go around.
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