Penguin. Playing the game or playing authors?

November 22, 2011 Leave a comment

The journey of a self-pubbed eBook author is an arduous one. They go through the same challenges during the drafting, editing, redrafting, editing, writing, rewriting and polishing stages of developing their manuscripts as any author worth their salt. The difference lies in what happens then.

Traditionally, when an author was accepted by a publisher, the cover design, layout, formatting and promotion of the book were all taken on as part of this contract. The author might maintain their own website and even maybe write a blog, but the majority of promotional work was taken care of by the publisher (most of it by the mere use of their name).

I’ve written before about the changing nature of the publishing industry―as have many others―and I’ve expressed views about the need for publishers to adapt their game to remain relevant, so the other day when I heard that Penguin was jumping into technological relevance to be publishing eBooks of eAuthors I was overjoyed. Until I read the details.

The imprint Penguin is using for the self-pubbed author is Book Country, and by all accounts it presents reasonably well on initial examination. It’s not until you actually read through the entire process they propose that the hackles begin to rise. And I’m pretty sure you’d only recognise the issues if you’ve already experienced the eBook publishing process.

To have your eBook published by Book Country will cost you $99. And they say they will pay you 70% royalties. But that is NET royalties, which means 70% of the 30% royalty you’ll get from Amazon for example. It’s a little misleading. And what concerns me more about the Penguin eBook publishing proposal is that what they are offering to do can be done by the author, with relative ease at no cost. They don’t tell you this.

Penguin/Book Country will not take on any of the cover design or manuscript editing that a traditional publisher (or even print self-publisher agency) does, nor will they do any promotion. The Author still has to manage and/fund that crucial part of the process themselves. But they will convert your Word.doc into the appropriate format for eReaders. And they will distribute it to the major eBook retailers. So does Smashwords―for free! Amazon does the same thing―also for free.

Both Smashwords and Amazon also provide space for an Author Profile, and both provide informational assistance to point you in the right direction to promote your work. FOR FREE. They also both provide very clear instructions about how you can best format your manuscript for submission. It’s hard work and it is time consuming, yes. At least initially. But being an author is not an easy ride. And you can get someone to format your manuscript for you for much less that what Penguin is charging, without having to sacrifice your royalties.

Forgive me if I’m coming across a bit cynical, but it sounds to me like, rather than delving into 21st century book publishing in a positive and innovative way, Penguin recognises the possibility that they (along with other traditional publishers) may eventually sink into oblivion, and so are desperately attempting to assert their technological relevance by staking a financial claim on new and emerging authors. Seems a little disingenuous to me.

Have a look for yourself and see what you think: Penguin’s Book Country

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What about literary agents?

August 7, 2011 1 Comment

What role will the literary agent play in the New World of publishing? I wonder if they’ve given much thought to how they may need to adapt their roles, or whether their roles may even become redundant.

Incomes of literary agents are attached to the income of the author, usually around 15% of author royalties. The success of the author (and the amount of money they earn) can be enhanced by effective representation from the agent but traditionally has been determined by the capacity of the publisher to promote the author’s work. Of course, the bigger the publishing house, the greater the resources they’re able to throw behind book promotion and the safer it is for them to take a risk on an unknown or previously unpublished author. Still, many first time authors get their first break with the smaller publishers.

This is all how it traditionally happens. But will this way of working in the industry remain profitable, or even relevant through the next few years? I have a feeling that in as little as five years time we will be looking at a very different industry. Where publishers once controlled access to the printing and distribution of books, technology is now such that everyone has access to methods of getting their work out there.

Distributors such as Smashwords and Amazon, make it almost easy for indie authors to create and distribute their work. And social media puts promoting books within reach of every author. With royalties of between 35% and 70% on offer, compared to the traditional 5% to 10%, ePublishing makes it an extremely attractive option for authors.

We’ve seen the demise of book sellers, we’ve heard the rumours about traditional publishers being in trouble, especially the small ones―particularly if they can’t adapt. But what of agents? Is there a role for them in the eBook and ePublishing context?

Perhaps. But they too, will have to adapt their practice. As with traditional publishers, I think the survival of the literary agent will depend on their capacity to redefine the role they play. Maybe it becomes about sourcing graphic designers for the eBook covers, the social media campaign and online launch, the book trailer that is becoming a necessary promotional tool. Maybe the the role of the publicist will merge with that of the agent, maybe it’s a necessary  metamorphosis. I don’t know. But 15% of net royalties from authors ePublishing (offering 30% – 70%) with no advance has to better than 15% of royalties from traditional publishers (offering 5% – 10%) with little or no advance.

What do you think?

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Should emerging authors ePublish?

June 27, 2011 2 Comments

It’s an interesting dilemma. There is no doubt the publishing industry is changing. Rapidly. Statistically, there is an exponential increase in eReader purchases and eBook downloads each year, and a corresponding fall in hardcopy book sales.

There seems to be as many doomsayers predicting the demise of the book, as there are enthusiasts rejoicing in the changing technology. So who is saying what, and why?

I went to the Young Adult Writers Festival at the NSW Writers Centre on the weekend and heard a few different viewpoints on the matter. The fact that the industry is changing is not in dispute, but the best way of dealing with these changes sparked much discussion.

Epublishing opens doors for authors. It allows them to get their work out there to test the waters. I think people will always want to read. Along with the technology, what I think is changing is how, when, and where they read. Savvy consumers are fast realising that they don’t need to buy a book based only on the blurb. Buying an ebook means you can sample the text before you purchase it, sometimes up to a third of the book. And this is not going to happen unless the text is a grammatically correct, well-written, engaging manuscript.

As a prolific reader, I make great use of my local library. But I find that because of the volume I read, I don’t have the patience to persevere with a book that doesn’t grab me in the first few chapters. As eBook consumption increases, unless the book is high quality writing, it just won’t cut it at all. And when the eBook is a great read, it is typically much cheaper than a hardcopy.

This is a good thing for authors and readers alike. But it doesn’t seem to be too popular with publishers. There is some debate about pricing of eBooks, with those thinking that ePublishing at ridiculously cheap prices (for example: $0.99) undermines the integrity of authorship. I’m not sure about this one, I don’t know if it does or not – but I don’t suppose the guy who has just sold his first million ebooks (for $0.99 each) would think it does.

Un-contracted authors at the festival seemed excited by the prospect of being in control of their work and publishing themselves electronically without the costs usually associated with self-publishing. Publishers however, not so. One publisher on a panel, upon hearing that an author had released an eBook before securing a traditional contract, was concerned about ‘what’s left for us?’

An author who had published the traditional way and had since bought back the electronic rights to his book, told of making more money as a $0.99 ebook than he received in royalties from the publisher.

These days, with the tools of social media at everyone’s fingertips, authors are their own best publicists, and if they are on top of things can potentially be very successful in the electronic book world.

I suppose traditional publishers should be worried. No-one can survive doing the same thing in a changing environment. Borders is a testament to that.

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