The Publishing Industry is Dead: True or False
Printed pages have been with us since around 1450 A.D. After 561 years, you might think that people would be slow to accept innovation. However, the sale of an estimated 4 million Amazon Kindle e-readers has put paid to any such illusions.
Barely into Q2, and 2011 has already been a rough year for traditional book retailers. In February, Borders filed for bankruptcy, saying that it would close about a third of its stores. And despite its major competitor being on the rocks, Barnes & Noble stock continues to drop.
Long Live Publishing –and Self Publishing
While retailers struggle and fold, there might yet be new opportunities for publishers and authors alike. A publishing phoenix may still rise from the ashes.
It was in July 2010 that ebooks started outselling hardcovers on Amazon. So it’s hardly surprising that publishing houses are moving to embrace the ebook more wholeheartedly.
The economics of ebook publishing have already attracted new market entrants: publishers that specialize in ebooks for eReaders, tablets, and smart phones.
These economics have not only inspired publishing houses to rethink their business model and new competition to take them on. It’s also created a new, independent breed of author.