Register Guidelines E-Books Search Today's Posts Mark Forums Read

Go Back   MobileRead Forums > E-Book General > News

Notices

Reply
 
Thread Tools Search this Thread
Old 07-19-2012, 04:06 PM   #1
H.P. Lovesauce
Word Herder
H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.H.P. Lovesauce ought to be getting tired of karma fortunes by now.
 
Posts: 30
Karma: 674360
Join Date: May 2012
Device: Kindle Fire
Penguin owners snap up self-publishing biz

Everything that rises must converge. Alternately, corporate money will ensure that everything eventually gets consolidated.

NEW YORK (AP) — One of the world’s biggest publishers, Pearson, has purchased one of the biggest self-publishers.
Pearson announced Thursday that it had acquired Author Solutions Inc. for $116 million. Author Solutions, a Bloomington, Ind.-based company that has released self-published works by some 150,000 authors, will become part of the Pearson-owned Penguin Group (USA).
The success of such self-published writers as E.L. James and Amanda Hocking has encouraged traditional publishers and the online retailer Amazon.com to seek out authors who can build word-of-mouth followings. Penguin chief executive John Makinson said in statement that buying Author Solutions “will allow Penguin to participate fully in perhaps the fastest-growing area of the publishing economy.”
H.P. Lovesauce is offline   Reply With Quote
Old 07-19-2012, 04:09 PM   #2
HomeInMyShoes
Ginormous Intergalactic
HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.
 
HomeInMyShoes's Avatar
 
Posts: 13,732
Karma: 43931069
Join Date: Jul 2011
Location: junkyard
Device: Kindle3
Booo...
HomeInMyShoes is offline   Reply With Quote
Old 07-19-2012, 04:14 PM   #3
elcreative
Wizard
elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.elcreative ought to be getting tired of karma fortunes by now.
 
Posts: 2,881
Karma: 5875940
Join Date: Dec 2007
Device: PRS505, 600, 350, 650, Nexus 7, Note III, iPad 4 etc
And yet everyone want publishers to start to move into the 21st Century... and when they show signs of doing it we get "Booo..." Double standards as usual...
elcreative is offline   Reply With Quote
Old 07-20-2012, 07:47 AM   #4
fjtorres
Grand Sorcerer
fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.
 
Posts: 7,220
Karma: 57229467
Join Date: May 2009
Location: 26 kly from Sgr A*
Device: PRS-T1, KT, PB701/IQ, K2, PB360, BeBook One, Axim51v, TC1000
Double standard?
Maybe, or maybe some of the disapproval (and I've seen a lot) comes from folks familiar with how Author Solutions imprints work.
Here's just one of many at WRITER BEWARE:
http://accrispin.blogspot.com/2006/0...ublishing.html
Check the comments on how things changed *after* Author Solutions took over.

The line between "assisted self-publishing" and vanity press scam is thin and faint, but it is real and you can usually smell the difference.
So far, it sounds like Pearson/Penguin can't.

(Not that I personally care, mind you. I'm still educating myself on how things look like from the authors' side. So far, not pretty.)

Last edited by fjtorres; 07-20-2012 at 07:50 AM.
fjtorres is offline   Reply With Quote
Old 07-20-2012, 09:39 AM   #5
HomeInMyShoes
Ginormous Intergalactic
HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.HomeInMyShoes ought to be getting tired of karma fortunes by now.
 
HomeInMyShoes's Avatar
 
Posts: 13,732
Karma: 43931069
Join Date: Jul 2011
Location: junkyard
Device: Kindle3
Quote:
Originally Posted by elcreative View Post
And yet everyone want publishers to start to move into the 21st Century... and when they show signs of doing it we get "Booo..." Double standards as usual...
My boo is that I don't feel Penguin controlling more of the book market is of any value to readers or writers. Yes, I'd like Penguin to join the 21st Century, but I have a feeling that this move will just make fewer authors available for librairies.
HomeInMyShoes is offline   Reply With Quote
Old 07-20-2012, 09:55 AM   #6
teh603
Snarky Snark
teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.teh603 ought to be getting tired of karma fortunes by now.
 
teh603's Avatar
 
Posts: 1,198
Karma: 6244877
Join Date: Sep 2011
Location: Coastal Texas
Device: Asus TF300
Tomorrow's news announcement: Author Solutions closed down, customers to be merged with the scam imprint Penguin Book Country.

teh603 is offline   Reply With Quote
Old 07-20-2012, 06:34 PM   #7
Top100EbooksRank
Addict
Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.
 
Posts: 295
Karma: 6060628
Join Date: Mar 2012
Device: Kindle
http://indiereader.com/2012/07/pengu...iting-writers/
Penguin’s New Business Model: Exploiting Writers

Quote:
What does Author Solutions bring to the table? Well, for starters, around $100m in annual revenue. Roughly two-thirds of that money comes from the sale of services to writers, and only one-third from the royalties generated by the sale of their books.

Pause for a moment and consider that statistic. Penguin isn’t purchasing a company which provides real value to writers. They are purchasing an operation skilled at milking writers.

. . . .

For example, Author House will provide you with a “web-optimized press release” for the bargain price of $1,199. In case it isn’t obvious, you would likely receive greater promotional value from setting fire to that money on YouTube.

. . . .

Before they leave the clutches of Author Solutions, however, writers are subjected to never-ending phone calls hawking a string of overpriced, useless services, including the press releases described above. As such, the average customer spends around $5,000 over their “lifetime” with the company,but only sells 150 books.
Top100EbooksRank is offline   Reply With Quote
Old 07-21-2012, 08:45 AM   #8
Top100EbooksRank
Addict
Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.Top100EbooksRank ought to be getting tired of karma fortunes by now.
 
Posts: 295
Karma: 6060628
Join Date: Mar 2012
Device: Kindle
http://janefriedman.com/2012/07/20/s...of-the-future/

Quote:
Some writers have reacted to the news by saying, “This means self-publishing is the future!”

This is a misunderstanding of Author Solutions on a variety of levels, as well as what Pearson might have to gain from acquiring them. Two-thirds of Author Solutions’ revenue comes from selling services to authors—not from selling books.

Saying that this is the future is kind of like saying: “Authors paying hundreds and thousands of dollars to publish a book that never sells more than 100 copies is the future! Yay!”

This is how confused writers are.

But I know what they’re thinking. They see self-publishing in terms of all those success stories you hear about in the media—like JA Konrath, Amanda Hocking, and John Locke.

Well, I challenge you to find one of these phenoms that used Author Solutions as a service provider. Rather, the self-publishing authors making big bucks are folks primarily using Amazon KDP or related “free” services.
Top100EbooksRank is offline   Reply With Quote
Old 07-23-2012, 06:02 PM   #9
khalleron
Kate
khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.khalleron ought to be getting tired of karma fortunes by now.
 
khalleron's Avatar
 
Posts: 1,451
Karma: 1756285
Join Date: Mar 2009
Location: Oregon, United States
Device: Nexus 7, Sony PRS-T1 Red
Seriously. When I first began looking into self-publishing, everywhere I went I heard really toxic stories about Author Solutions - like, stay away! Run away!

So this is not good news or a sign that Penguin is being 'progressive'. It's a sign they want to leech off amateurs, not help them to become professionals.
khalleron is offline   Reply With Quote
Old 07-23-2012, 06:25 PM   #10
stonetools
Wizard
stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.stonetools ought to be getting tired of karma fortunes by now.
 
stonetools's Avatar
 
Posts: 2,016
Karma: 2838487
Join Date: Oct 2010
Location: Washington, DC
Device: Ipad, IPhone
I think we have to wait to see what Penguin does with its new self-pub venture.IF its a bad deal for authors, Penguin might reform it into something good for self-pubbers and for Pen guin.
Would it have been better for Penguin to continue to avoid self-publishers altogether?
More on Penguin's move to self-publishers:

Quote:
Last year Penguin was the first conventional publisher to launch its own self-publishing service, Book Country, and they’ve followed that landmark venture with the acquisition of Author Solutions, a self-publishing firm with around 1,600 employees, revenue of just under $100 million in 2011 and that that has published nearly 200,000 books by more than 150,000 authors in print and e-book formats. The company has net income of $4.2 million laat year. Author Solutions also partners with about six other houses—Thomas Nelson and Hay House among them—to provide “white label” self-publishing services and both Makinson and Weiss said those ASI partnerships will continue. Bertram Capital began looking for a buyer for ASI this winter.



Answering questions from the Author Solutions offices, Makinson said “there’s no other acquisition like this with systems of scale behind it.” Makinson also said there will be no layoffs. “We’re looking to upsize not downsize. There are no plans for layoffs, this is an opportunity for growth,” he said. Weiss said they will not change Author Solutions name, “the brand will not change but we have time and we will decide what makes sense.”



Citing its own launch of Book Country, Makinson said Penguin has been looking at the self-publishing market “with growing respect and admiration,” noting that “we try to keep up with the game.” Makinson said, “It’s become more professional and added more value for writers and readers.” Makinson pointed to the growing number of self-published writers like E.L. James and Amanda Hocking, “self-publishing is growing and converging with traditional publishing. It's an important market and it's not unusual for self-published titles to hit the bestseller lists.”

LINK
stonetools is offline   Reply With Quote
Old 07-23-2012, 08:04 PM   #11
SteveEisenberg
Wizard
SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.SteveEisenberg ought to be getting tired of karma fortunes by now.
 
Posts: 1,575
Karma: 11390088
Join Date: Jun 2008
Location: Philadelphia USA
Device: Kindle Keyboard 3G
Quote:
Originally Posted by stonetools View Post
Would it have been better for Penguin to continue to avoid self-publishers altogether?
It makes sense for them to put some resources into finding a few outstanding self-published authors who they want to recruit by offering advances.

What's not good is to pay negative advances AKA most revenue comes from authors, not sales AKA blurred vanity publishing.

Then, I am also against lotteries. A business where most people lose just feels wrong to me. This makes me much more anti-Penguin than non-cooperation with Overdrive.

Last edited by SteveEisenberg; 07-23-2012 at 08:06 PM.
SteveEisenberg is offline   Reply With Quote
Old 07-27-2012, 05:36 AM   #12
MikeB1972
Fanatic
MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.MikeB1972 ought to be getting tired of karma fortunes by now.
 
Posts: 516
Karma: 2163369
Join Date: Jul 2009
Location: UK
Device: BeBook,JetBook Lite,PRS-300-350-505-650,+ran out of space to type
According to a lot of people here Vanity Publishing is the way to go for self pubbers.

If you need all the editing services etc that a traditional publisher used to provide but without handing over your rights then you need to pay up front for them (i.e. what used to be called Vanity Publishing).

Looks to me like Penguin is doing the sensible thing and offering the same kind of services they would offer a signed author but for an up-front cost.
MikeB1972 is offline   Reply With Quote
Old 07-27-2012, 10:00 AM   #13
Suzanna
Living in the past
Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.Suzanna ought to be getting tired of karma fortunes by now.
 
Suzanna's Avatar
 
Posts: 431
Karma: 6011289
Join Date: Sep 2010
Location: Toronto
Device: Kobo Aura, Kobo Arc
Quote:
Originally Posted by MikeB1972 View Post
According to a lot of people here Vanity Publishing is the way to go for self pubbers.

If you need all the editing services etc that a traditional publisher used to provide but without handing over your rights then you need to pay up front for them (i.e. what used to be called Vanity Publishing).

Looks to me like Penguin is doing the sensible thing and offering the same kind of services they would offer a signed author but for an up-front cost.
There is a huge difference between self-publishing and vanity publishing. I plan to self-publish a novel and a novelette in January/February 2013. I've arranged for a freelance editor to edit my manuscript and will be commissioning a professional cover. Yes, I'm paying those costs up front. However, when I upload my books to Amazon and all the other etailers, I'll be keeping the full amount of royalties. My full length will be priced over 2.99, so I'll get the full 70% royalty from Amazon.

From everything I've heard, vanity publishers don't actually edit your books. They throw them up on an etailer's site pretty much as is (with a cover they created, I assume), charge the author for various marketing promotions, and then they also take a cut of your royaties, so you're no longer making the full 70% royalty but much less.

If you're going to pay someone to edit your book and design a cover, get recommendations from other authors who've gone before you and oversee all that stuff yourself. You can even hire someone - for a flat one-time fee - to format your books for you before you upload them to the ebook stores. Don't go with a vanity press and give up a sizeable portion of your earnings forever in exchange for no editing and constant phone calls that you send them more money.

What Penguin's owners are doing is monetizing their slush pile. They know gullible new authors will jump on this as an opportunity to say "I'm published with Penguin!" I'm sure, however, that there will be a clear distinction made between this venture and Penguin's traditionally published authors. The only one who wins in this scenario is the vanity press, who will continue to milk the author for money.
Suzanna is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Penguin launches self-publishing platform L.J. Sellers News 13 11-21-2011 06:24 PM
Penguin Upsets Kindle Owners HansTWN News 80 06-07-2010 04:58 AM
PB360 Snap on lid???? hidari PocketBook 10 01-21-2010 06:38 PM
Penguin EBook Store relaunch - Good news for UK Reader owners anotherchance Sony Reader 43 10-23-2008 01:14 PM
Snap.com - new search engine with sortable results Colin Dunstan Lounge 1 10-06-2004 06:50 AM


All times are GMT -4. The time now is 12:54 AM.


MobileRead.com is a privately owned, operated and funded community.