The L.A. Times is parroting an article first reported in The Guardian:
“98 British publishers folded last year due to e-books, discounts”
The original article published November 4th in the Guardian has a headline screaming “Ebooks and discounts drive 98 publishers out of business” with a subhead of “Number of closures is 42% up on last year, as digital books and huge pressure on margins push companies over the brink” … and it’s all nonsense. Bollocks.
The quote by Anthony Cork of the accountancy firm Wilkins Kennedy included is “the rise of Amazon and other discount sellers with massive buying power means the pressure on publishers’ margins is now immense. While publishers might be able to sustain relatively small margins on a bestseller, it is much harder for niche publishers.”
Hey, HERE’S an idea: run your publishing house as a lean, nimble company that can change as the publishing industry evolves – and evolve it will. Ebooks aren’t new; they’ve been around for decades. The Kindle has been around since 2007. If publishers couldn’t see the writing (pardon the pun) on the wall then, then maybe they shouldn’t still be in business.
The rise of self-publishing isn’t a bad thing; it’s the greatest thing to happen to authors since the invention of paper. No longer are writers shackled to one-sided contracts that favor publishers and pay out a paltry 14% or so after expenses. The brave new world of self-publishing allows the author to be the captain of their own ship, not just an oarsman chained below decks.
Sure, the Guardian and others can try to blame Amazon for the failure of publishing houses … but how’s about, instead, placing the blame squarely where it should be placed: on the poor business practices of the publishers and the abysmal way they’ve always treated writers. It’s a bitch when the chickens come home to roost, isn’t it?
Go forth and WRITE!
You can read the hit piece from the Guardian HERE. The L.A. Times article is HERE.