Amazon Challenges Publishers Pt.2
This is a continuation of Friday’s post, a further examination of Amazon’s new approach to woo authors.
Barry Eisler, who turned down an attractive offer from St. Martin’s Press, and is publishing his new book himself through amazon is not deterred by the claim that he is restricting his audience by only publishing for Kindle readers. Eisler states that his book will be available without DRM (digital rights management) and therefore it can be read on any e-book reader, including the Nook and the Kobo. Many of us have, in addition to publishing through amazon, also published through the successful Bay Area start up Smashwords which I discussed a while ago on Left Coast Voices.
More telling, Eisler can sell his book at a low and attractive price for a broader audience. With a traditional publisher, a hardcover would cost $25, and astonishing in my opinion, an ebook for as much as $13. “Availability six months earlier and at half the price seems like a pretty good deal for readers to me,” Eisler added and you can see his point.
This new strategy between amazon and authors such as Eisler, or popular author Tim Ferriss, is a hard blow for traditional publishers. They had been more than tolerant with writers such as Amanda Hocking who created their fan base outside of the traditional framework only for a publisher to step in and help both the author and publisher profit. This new strategy, however, is pulling popular writers such as Ferriss and Eisler away from traditional publishing world.
In the process, Amazon is making the rest of the traditional industry look out-dated, inefficient, and profit-driven. If they are to woo such authors, they must shorten their publication process which is glacial in comparison to Amazon. They also need to understand that their price structure is antiquated in the face of technology.
I do not think that all is lost, however. Many of these emerging authors are businessmen and women and extremely pragmatic. Read John Locke’s new book as a case in point.
As Eisler puts it: “My objectives were to make more money from the title, to get the digital out first, and to retain more control over business decisions. If a better way comes along … of course I’m going to take it. Publishing for me is a business, not an ideology.”
The market is such that an author will take a publishing deal if it is lucrative enough. If it is not, however, they might decide to look for other options and Amazon is ready to welcome then in. The ball is in the court of the major publishers. They need to adapt fast or risk joining the dinosaurs.
Alon Shalev is the author of The Accidental Activist (now available on Kindle) and A Gardener’s Tale. He is the Executive Director of the San Francisco Hillel Foundation, a non-profit that provides spiritual and social justice opportunities to Jewish students in the Bay Area. More on Alon Shalev at http://www.alonshalev.com/ and on Twitter (#alonshalevsf).