In my continuing series of guest posts about the changing face of publishing, I couldn’t resist cross-posting this one. Mark Coker, CEO of Smashwords, was recently interviewed by Jeff Rivera at MediaBistro. He was asked for his ten book publishing predictions for 2011. Mark said I could pick up the first five from his blog and I’ll link at the end to the rest of the interview. Hopefully we’ll get something more from Mark later in January in this series, but he’s a busy man. In the meantime, enjoy this one.
2011 Predictions for Book Publishing
It’s annual prognostication time when folks like me stick out their necks and try to predict the future. I invite you to join in the fun. Brush up your crystal ball and share your publishing predictions for 2011 in the comments field below.
Earlier today, Jeff Rivera over at MediaBistro interviewed me for my ten book publishing predictions for 2011.
I’ll list five below, and then I encourage you to click over to Mediabistro for the full ten in his interview, Publishing Predictions for 2011 from Smashwords.
If 2010 was the year ebooks went mainstream in the U.S., 2011 will be the year indie ebook authors go mainstream. We’ve already seen this start to happen with some tremendous indie ebook author breakouts in 2010. I wrote about Smashwords author Brian S. Pratt a few weeks ago.
So here are five predictions for 2011:
1. Ebook sales rise, unit consumption surprises – Ebooks sales will approach 20% of trade book revenues on a monthly basis by the end of 2011 in the US, yet the bigger surprise is that ebooks will account for one third or more of unit consumption. Why? Ebooks cost less and early ebook adopters read more.
2. Agents write the next chapter of the ebook revolution – Agents, serving the economic best interests of the best-selling authors, will bring new credibility to self publishing by encouraging authors to proactively bypass publishers and work directly with ebook distribution platforms. Agents will use these publishing platforms for negotiating leverage against large publishers. The conversation will go something like this: “You’re offering my author only 15-20% list on ebooks when I can get them 60-70% list working direct with an ebook distributor like Smashwords or a retailer like Amazon?”
3. More big authors reluctant to part with digital rights – Indie ebook publishing offers compelling advantages to the author. The economics are better (see #2) and the publishing cycle times are faster (an ebook manuscript can be uploaded today and achieve worldwide distribution in minutes or days, not years). Ebooks also offer greater publishing flexibility (shorts, full length, bundles, free books), and the opportunity to reach more readers with lower cost (yet still higher-profit) books. The advantages will entice more professional authors to self-publish some or all of their future catalog, and all of their reverted-rights catalog.
4. Self Publishing goes from option of last resort to option of first resort among unpublished authors – Most unpublished authors today still aspire to achieve the perceived credibility and blessing that comes with a professional book deal. Yet the cachet of traditional publishing is fading fast. Authors with finished manuscripts will grow impatient and resentful as they wait to be discovered by big publishers otherwise preoccupied with publishing celebrity drivel from Snooki, Justin Bieber and the Kardashians. Meanwhile, the break-out success of multiple indie author stars will grab headlines in 2011, forcing many unpublished authors off the sidelines. As unpublished authors bypass the slush pile, publishers lose first dibs on tomorrow’s future stars.
5. Ebook prices to fall – It’s all about supply and demand. Demand is surging, but supply will overwhelm demand. Average ebook prices will decline, despite attempts by Agency 5 publishers to hold the line. The drop will be fueled by the oversupply of books, abundance of low-cost or free non-book content, influx of ultra-price-sensitive readers who read free first, fierce competition for readership, and digitization of reverted-rights and out-of-print books. Indie authors, since they earn 60-70% retail price, can compete at price points big publishers can’t touch.
Read all ten of my predictions in the full interview over at Mediabistro, and please share your own predictions in the comments below.
If that whet your appetite, please do go and read the rest. It makes for some thought provoking reading. There’ll be a few more of these posts throughout January and early February, so keep an eye open.