Penguin's Book Country

[I. J. Parker]

  For all "Newbies"  and anyone tempted to self-publish or publish electronically, please read today's blog by Joe Conrad before falling for this!

 

http://jakonrath.blogspot.com/

[I. J. Parker]

As some of the comments inferred, the basic business model was never in the favor of the author.  Are you saying it's getting worse or better?

[J W Nelson]

Not sure if "worse" or "better" come into play here.  "Different," definitely. 

I am speculating, of course, but perhaps Penguin's move indicates the realization that technology is taking a major element of the game out of their hands - distribution (and preparation, packaging, marketing).  They want a piece of the new pie for, as Mr. Konrath points out, doing things that can be done by the author or by fixed-price resources now available to authors.

Who knows? Will tomorrow's bookstores resemble, for example, the Apple stores (brick&mortar and online) where birds of a feather flock together to discuss, share and buy the latest technology and what "plays" on it? 

I certainly agree with your reply (above) to Mr. Morgan's comments. 

[Benjamin Sobieck]

Because of the name recognition Penguin carries, I think this is even worse than Publish America. People will be willing to pay money up front because it's Penguin.

 

Like I always say, "Never pay for anything. Ever." Explicit costs upfront maximize risk. If you're splitting revenue, that's better, it minimizes risk. But money should never leave your bank account. Only go into it.

[I. J. Parker]

The splitting of revenue depends entirely on moneys realized over the lifetime of the contract (for e-pubs this may be forever) and the start-up money involved.  It seems to me that splitting e-royalties is always a bad idea. 

[Benjamin Sobieck]

If you split e-royalties and also don't pay anything upfront, how does the publisher make money? It's one or the other.

[I. J. Parker]

I don't care if the publisher makes money on electronic books.  I want the money myself.  Let the publisher deal with print.

 

Of course, if the advances are huge, then there is no argument.  The cost of putting a book on Kindle is minimal, while the potential earnings keep coming in.  Whatever costs there are can be borne by the author.  Many authors can do it all themselves; others pay for editing, cover, formatting.  Even then, they are probably better off on their own.

[Benjamin Sobieck]

I'm referring to e-only publishers. Self-publishing makes the most sense when you have an audience established. But then, I'm coming from a standpoint where my publisher and I split 75/25, with me taking the larger portion. Others may have it the other way around.

 

The benefit for me having a publisher is that I focus exclusively on writing and marketing. They take care of all the formatting, editing and uploading. I still design covers, although only because I enjoy it. The publisher would handle it otherwise.

[I. J. Parker]

That's not a bad split if they also do some marketing.  Congrats!