How will high-tech trends, global economy affect book publishing?

As I watch high-tech trends and the economy, which includes consolidation and buyouts, decimate print newspapers, forcing a definite paradigm shift for journalism, I wonder about books and publishing.

I don't think books will be as threatened by the Internet in the short-run because well, books tend to be long--and people are still catching on to reading from hand-held digital devices. As e-readers get more popular, I wonder if people will be more open to download self-edited books vs. those released by traditional publishers.

I do think that the economy will affect the publishing of books. Advances for midlist writers will remain stagnant or go down. And I don't think most publishers will be keen to offer multi-book contracts, unless they definitely feel a writer will be a rising star. One strategy that midlist authors have pursued is writing more than one series or book a year. I think a numbered few can maintain such a schedule, but most of us could not sustain such productivity without sacrificing quality.

I think that the slots for books at traditional publishers will diminish over the next few years. So where does this leave authors? Write something new and fresh, which does not fall in the "been there, done that" pile. Cultivate an untapped niche and hold on for dear life. Open yourself to a new world and/or genre and explore. Use your imagination more. And finally, have a side job, so you don't have to worry about making a lot of money from your writing. There's only one James Patterson. And whether this is a compliment or insult to you, you are no James Patterson.

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