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Originally Posted by John Sarget
When Macmillan changed to the agency model we did so knowing we would make less money on our e book business. We made the change to support an open and competitive market for the future, and it worked. We still believe in that future and we still believe the agency model is the only way to get there.
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So I guess all that talk, back at the time, about doing it to keep ebooks from undervaluing BPH's hardcover releases (which is where they—at the time—recouped the biggest portion of their investment) was all horse-poop, huh? They took a hit for the good of everyone? Puh-lease.
