Imagine that you go in to work on Monday, and your boss
tells you that you're getting a raise. Your pay will be doubled. Great!
On Tuesday, you get a letter from your landlord. Beginning
next month, your rent will be doubled.
On Wednesday, you go shopping and discover that a loaf of bread
costs twice what it did last week.
On Thursday, you go to buy gas. Turns out, the price at the
Shell station is double what it was before.
On Friday, you get a bill for your cellphone service. The
price has doubled.
On Saturday, do you feel any richer?
Of course not. And this is why I don't think (most) writers are better off, because of the new self-pub platforms.
Let me explain. Hard numbers are difficult to come by, but by some estimates the American publishing industry is now pumping out about four times the number of titles (annually) than it did ten years ago.
The reason for this surge? New technologies make it quick and easy to self-publish a book. This means no waiting around to gain the blessing of an agent or publisher, and no subsequent wait for the normal drawn-out publishing process to run its course. But you knew that.
The good news? Anyone can publish a book.
The bad news? (Nearly) everyone is publishing a book.
That’s right: Today, enabled by space-age tech, hundreds of thousands of untrained scribes are rushing to market with books that have had no professional input. Whether for writing, editing, art or marketing; it’s DIY all the way. No other industry would tolerate such carelessness, but it seems to be perfectly permissible in the world of books.
According to Publisher’s Weekly, over 90% of self-pub books will never sell 200 copies. Ever, in their lifetimes. In no other industry would these numbers attract so many new entrants; but in the world of books, ambition and zeal seem to trump all business sense.
Why such a dismal success rate? It’s Econ 101, supply and demand. We’ve added millions of new products to the market, while the pool of buyers remains static. Each consumer has ever-more choices (great!), but his overall book budget stays the same. When supply exceeds demand, we call it a buyer’s market; this is not a good sign for producers.
Without a doubt, today’s writers enjoy more opportunity than ever. But the challenge is even greater. Whatever advantage they’ve gained from the rise of ebooks and POD, it has been (largely) lost due to increasing competition and declining quality. (Just like a worker who scores a 100% pay raise, while prices rise in an equal amount.)
The market is now more competitive than it has ever been, at any time in our history. This is why, more than ever, you need to be better than the other guy. Better writing, better editing, better art, better marketing. It all matters.
.
Of course not. And this is why I don't think (most) writers are better off, because of the new self-pub platforms.
Let me explain. Hard numbers are difficult to come by, but by some estimates the American publishing industry is now pumping out about four times the number of titles (annually) than it did ten years ago.
The reason for this surge? New technologies make it quick and easy to self-publish a book. This means no waiting around to gain the blessing of an agent or publisher, and no subsequent wait for the normal drawn-out publishing process to run its course. But you knew that.
The good news? Anyone can publish a book.
The bad news? (Nearly) everyone is publishing a book.
That’s right: Today, enabled by space-age tech, hundreds of thousands of untrained scribes are rushing to market with books that have had no professional input. Whether for writing, editing, art or marketing; it’s DIY all the way. No other industry would tolerate such carelessness, but it seems to be perfectly permissible in the world of books.
According to Publisher’s Weekly, over 90% of self-pub books will never sell 200 copies. Ever, in their lifetimes. In no other industry would these numbers attract so many new entrants; but in the world of books, ambition and zeal seem to trump all business sense.
Why such a dismal success rate? It’s Econ 101, supply and demand. We’ve added millions of new products to the market, while the pool of buyers remains static. Each consumer has ever-more choices (great!), but his overall book budget stays the same. When supply exceeds demand, we call it a buyer’s market; this is not a good sign for producers.
Without a doubt, today’s writers enjoy more opportunity than ever. But the challenge is even greater. Whatever advantage they’ve gained from the rise of ebooks and POD, it has been (largely) lost due to increasing competition and declining quality. (Just like a worker who scores a 100% pay raise, while prices rise in an equal amount.)
The market is now more competitive than it has ever been, at any time in our history. This is why, more than ever, you need to be better than the other guy. Better writing, better editing, better art, better marketing. It all matters.
I'm always working on that getting better part. It's a never ending journey.
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