It’s sad when what you know-to-be-true is painfully documented in an lengthy, well-written article from a prestigious magazine.
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| The demise of publishing has been predicted since the days of Gutenberg. But for most of the past century—through wars and depressions—the business of books has jogged along at a steady pace. It’s one of the main (some would say only) advantages of working in a “mature” industry: no unsustainable highs, no devastating lows. A stoic calm, peppered with a bit of gallows humor, prevailed in the industry.
Survey New York’s oldest culture industry this season, however, and you won’t find many stoics. What you will find are prophets of doom, Cassandras in blazers and black dresses arguing at elegant lunches over What Is to Be Done. Even best-selling publishers and agents fresh from seven-figure deals worry about what’s coming next. Two, five years from now—who knows? Life moves fast in the waning era of print; publishing doesn’t. |
Since my Mojo Press days in the mid-1990s, I’ve argued that the entire dinosaur-like publishing industry needed to change or be eaten alive by the newer mammalian media. I’m not saying that books will disappear, just the major publishers with their archaic methods.
I’ve long been concerned that Amazon will simultaneously save the industry and destroy it. Now others agree…
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| The ultimate fear is that the Kindle could be a Trojan horse. Right now, Amazon is making little or nothing on Kindle books. Lay down your $359 and you can get most books for $9.99. Publishers list that same Kindle version for about $17.99, though, and—as with all retailers—charge Amazon roughly half that price for it. Which means that Amazon keeps only a dollar on each book, while the publishers make $9.
But Amazon may be offering a sweet deal now in order to undercut publishers later. If their low, low prices succeed in making e-books the dominant medium, they can pay publishers whatever they want. “The concern is they want to corner the market,” explains one books executive, and then force publishers to accept a genuine 50 percent discount. “If they took over as little as 10 to 20 percent of the market,” says an agent, “publishers simply would not be able to exist.” |
This anonymous quote near the end of the article sums up my long-running feelings over publisher reactions to the changing world.
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| “We’re an industry more willing to watch the boat sink than rock it a wee bit.” —ONE FRUSTRATED PUBLISHER |
It does seem to be an industry bent on suicide. Possible solutions exist out there, but will only happen if the authors, publishers, and booksellers work together and stop pointing fingers of blame. I’m tired of hearing how things use to be and how bad they are now. The "good old days" of publishing are gone and ain’t coming back. It’s time to re-invent the wheel, to figure the new publishing dynamic.
With "The End," New York writer Boris Kachka produced an excellent eulogy to the way things use to be.
(Thanks to Mark London Williams for the link.)