Originally Posted by b0ned0me
I agree with you. The big publishers are certainly not helping themselves (or anyone) but I think the main reason the book industry is in trouble is the general public. Once upon a time most people read a bit, and a minority read voraciously. Soon we will be at the stage where a minority read a bit, and a tiny subset read voraciously. Even if the total revenue generated stays the same or rises, that's still a big change to deal with - and the current incumbents apparently can't cope.
The "bestseller" model is geared to the large populace who reads a bit, rather than the small populace that reads voraciously.
It's the niche publishers that feed the voracious readers.