 Awesome photo by Grok. We don’t claim to be a publishing expert. That said, we have ghost-copy-edited several books, for different clients of ours, over the years. We’ve done everything from boutique self-publishing to working with one of the big-name New York publishing houses.
But the lessons we learned recently—and will share in this article—really underscore how much, and how fast, the world of book publishing has changed, in just the past few short years. Big boys can be bullies Boy were we ever disappointed, not terribly long ago, when we helped a client of ours shepherd their book through the process/wringer of a major you-know-their-name publishing house. We—mistakenly—thought that our client would get the white-glove treatment from this storied icon. Were we ever wrong. Their business model had followed—or perhaps preceded—the seismic shifts that have upended the music industry. Rather than the publishers having all the power, it’s effectively the influencers who have all the power. So if you’re, say, an indie rock band and you’ve got a zillion followers on TikTok, you hold all the cards. Why fork over your hard-earned money to some record label? Ditto for publishing. You can self-publish, pretty easily, these days (more on that in a minute), and if you can drive lots of followers and sales, then what value does a publisher—regardless of how big or how storied—have to add? This is, unfortunately, a double-edged sword. In the case of our client, they’d written a brilliant manuscript, but weren’t exactly Kardashians in terms of their social-media influence. And that was all, apparently, that the big-name publisher cared about. They peppered us with questions, such as:
And one other, which we were shocked to hear:
Ouch. You’d think that as publishers, their job would be to, well… publish. But no. They’re looking for coat-tails to ride. They want to “barnacle” themselves onto a trend, rather than expend the effort and capital to start one, regardless of how trend-worthy that manuscript might be. How disheartening. But the story does get better. The Magazine Magnate Before we get to the silver-lining chapter, we have one more churn-your-stomach tale to tell. We worked with another client, recently, and helped them to complete their book manuscript. Shortly thereafter, our client was approached by another huge-name publisher, known primarily in the magazine world, but who were now leveraging their brand name to create a publishing service to authors like our client. Hmmm. Intriguing. Well, it was, until we dived into their sales pitch. They would publish the book. And they would push out a press release for it. And they would feature it on their website. Now, in stark contrast to the old-school publisher we’d mentioned in the previous story—who, to their credit, paid our client an advance (i.e., money) against future sales for the manuscript—this magazine-magnate wanted to charge this other client of ours for the privilege of having their big name on the spine of the book… along with the aforementioned press release and website page. So now the money is flowing in the opposite direction. But okay. We’ll bite. How much did Magazine Magnate want for this service of theirs? Well, they offered different tiers. The cheapest one was $67,000.00. The priciest one topped out at $122,000.00. Can you say “Vanity offer targeted at ‘authors’ whose wallets are as inflated as their egos?” We politely declined. Goliath, meet David As we’d teased above, there is a silver lining to our client’s story—and for your book-publishing aspirations, too, especially if you don’t feel like self-educating on the arcana of Amazon’s Kindle Direct Publishing service which, while valuable, requires a ton of heavy lifting on your part. Turns out there’s a whole category of vendors out there known as book aggregators, and they do pretty much everything, for a sliver of the price we’d mentioned above. Example: For our client who declined the Magazine Magnate, they went with an aggregator who created a print-on-demand book and e-book version thereof, and distributed it to storefronts such as Amazon and Barnes & Noble and tons of others. And the whole budget was under $3k. So there’s no “advance” against sales; you’re betting with your own money. But if you can, say, sell more than $3k worth of books, you’re already in the black, and royalty checks will just keep on coming. So you can see why the old-school publishers are now very old school. Their business model has been shaken to the foundations. What value do they add, beside a logo on the spine? We’ll leave it to you to answer that question. Need help with a book project? We’ve worked on enough of them by now to have experience to offer that, we’d wager, you’d deem valuable. Contact us to learn more.
0 Comments
Leave a Reply. |