Mainstream publishing houses are colonizing fresh territory in the next stage of an e-book revolution that is changing not only how we read, but what we read, forever.
Following the success of Fifty Shades of Grey, which started out as an e-book series posted on a fan site by author E.L. James and has become the world’s fastest-selling book, publishers are starting to move in on the profits generated by the thriving online platforms that serve unpublished writers.
Last week, Pearson, the owner of Penguin Books, bought one of the largest grassroots publishers, Author Solutions, based in the US state of Indiana, for ￡74 million (US$115.56 million). The idea is that Pearson will no longer have to rely on spotting e-book hits early; instead, they will own a new author’s work from the first moment it appears on screen. This acquisition comes in the wake of Pearson’s launch last year of Book Country, a Web site on which fiction authors can publish their work.
On Thursday, Glaswegian author Denise Mina said she believed the power of the e-book would soon alter the way authors set about writing fiction. Speaking as she received the Crime Novel of the Year award for The End of the Wasp Season, she said: “Nobody knows what sells. More so now because the market’s changing so fundamentally because of Kindle and electronic publishing.”
She added that she expected publishing norms — such as the average book length of 350 pages — to be further broken down.
“Why is that a story? Why isn’t a story 18 pages or 150 pages, which isn’t a novella and it isn’t a novel? But it can be now, on electronic media,” she said.
The writer also predicted that many of the “bottlenecks” that -prevent some writers being -published will disappear.
“The class divide is going to change. A lot more working-class people are going to get published,” she said.
Keith Weiss, chief executive of the newly acquired Author Solutions, is adamant that the online platforms for new writers are not the same as the stigmatized self-publishing referred to as “vanity publishing.” His company, which started in 2007, has marketed and distributed 190,000 titles for 150,000 authors and has grown at a rate of 12 percent in the past three years.
Further proof of the onward march of e-books comes from BookStats, which has collected data from 2,000 publishers across the US, including fiction titles, as well as higher education, professional and academic publishing products. It found e-book revenues for US publishers doubled to more than US$2 billion last year.
There were 211,000 self--published books out last year, 50 percent up on the previous year, and one of those e-book authors was Tricia Bracher, who put out her novel Tres Hombres. This weekend she welcomed the news that online self-publishing is likely becoming another arm of the established book industry.
“There were always too many people trying to get work published and there was nowhere left to turn to prior to this,” she said. “I am intrigued to know how publishers are going to maintain -quality control, but I am cautiously optimistic.”
Agent and former editor Peter Strauss argues that it is too soon to say the whole industry is in flux, going on to argue that although it is now simple to publish a book, publishing houses are still needed to edit and promote raw work, as happened with Fifty Shades of Grey.