We read today of rise of self-publishing and the claims that
‘Self-publishing boom lifts sales by 79% in a year’ made by
industry analysts Neilson and published in the Guardian.
Steve Bohme, Research Director at Nielsen, claims that of
the 80 million ebooks sold in the UK at a value of some £300 million, 18
million were self-published at an average price of £1. So whilst the volume of self-publishing
was a little under 25% of the UK ebook market the value of the sales was only
half that at some 12%.
There are many questions about these and other
self-publishing statistics. How much of the research is qualitative and how
much is quantitative? How much is actual sales of all self-published books and
how much is restricted to tracking industry identified book units (ISBN)? It is
easy to be subjective, but the actual detail often remains inaccessible and
therefore any statements and predictions often carry a word of caution. The
time old practice of measuring the market by number of new books published a
year, is becoming meaningless in this new virtual world, where multiple
renditions often exists and the front list, or ‘new’, is increasingly hard to
define. The industry failed to adopt the ISTC (standard work identifier) and as
a result relating different renditions can be a challenge. Separating out the
self-publishing titles is even harder as digital self-publishing is also not
restricted to authors and is being used by agents and small publishers and we
must not forget that it also includes print on demand channels such as Create
Space and even audio.
We are however where we are and it is hard not to appreciate
the massive explosion in digital self-publishing. This has been enabled via no
cost and self service programmes such as Kindle Digital Publishing (KDP). The
number of titles now taking this or similar routes to market is hard to
accurately measure and therefore too are the sales.
We understand some of the self-publishing drivers, but we often
lack the actual sales that are actually being achieved. Whilst some authors claim
huge sales, some works sit on the shelf untouched. Prices fluctuate from free
to a few pounds, but owners are often continually manipulating these prices in
order maximise visibility and sales. As a result prices, although low, are all
over the place, which in turn put pressure on the pricing of more traditional
works.
Traditional publishing has developed, honed and established
processes, relationships and practices from the author to the reader over many
years. Although these characteristics may vary from sector to sector, in many
sectors the prevailing model still remains largely one based on spread betting that
is controlled by the publishers, where the winners compensate for the losers. Some
bestsellers may be manufactured and according to their marketing spend be hits
before they have hit the streets.
However, publishers are increasingly becoming
risk adverse and in doing so are potentially now shrinking the number of wild
punts they take.
For many readers the publication date has not been the buying
driver and ‘latest’ often only means the newest to be discovered, not latest to
be published. However, the publishers remain front list focused with what some
would see as a mission to discover the next ‘50 Shades’, ‘Harry Potter’ and
Christmas celebrity blockbuster etc. In the physical world the promotion and development
of the backlist does not always generate the returns offered by a new
bestseller. However in the digital world a strong and visible backlist can
provide stable and sustainable income with little cost. This potential quick
win is not lost on authors who have often got reverted backlists that are
potentially waiting to be rediscovered.
The size of the content of a title is still being driven by
the economics of the physical rendition. The distribution and metadata is still
conforming to the physical supply chain needs. The rewards, rights and
royalties remaining locked in a time warp as if digital never happened. We
still think in terms of library and bookshop shelves and not virtual ones and
restrict how we describe works to filling in predefined boxes. Digital books
are still often restricted to sitting on limited shelves even though their
appeal may be applicable to many genre. We are managing ebooks as if they were
pbooks which again is opening up opportunities for self-publishers to self-publish
and appear more relevant and focused.
The market share of digital to physical continues to be an industry
obsession and in part is driven by the majority of the physical book content
remaining identical to the digital with the physical content merely being poured
into the digital container. We have created a cannibalising engine which
although like other media will not entirely replace the physical, could seriously
undermine the supply chain economics on which it works today. However, this is
not the case with much of the self-publishing market which now sidesteps the
often uneconomic print rendition. So despite Amazon’s Create Space print on
demand service digital self-publishing is growing disproportionately to
traditional digital publishing.
Self-publishing is being championed by those who control virtually
all current ebook sales. The likes of Amazon, Kobo, Nook not only assign their
own identifiers and do not make the ISBN mandatory for ebook self-publishers
they actively promote their services for free with royalty rates that make even
the best publishing digital royalties look miserable. Yes, publishers can add
value by promotion, marketing, and generally help raise the visibility of their
works and that may be appropriate for front list titles and those released in
print but doesn’t always apply to back list, mid list which now find themselves
fighting for attention alongside increasingly more professional looking
self-publishing titles. It is very questionable why any author should allow
publishers to simply digitise their back list without term time break clauses
and a revision of royalty terms. The ebook services also add value to authors
in showing current sales activity, royalty earnings and even pay on a monthly
basis.
If we finally accept self-publishing is a growing force and
segment within the market, how do we relate to it, measure it and respect what
it offers authors and readers alike. Merely brushing it under the carpet or
closing one’s eyes to it is not the answer as this will only deliver
aftershocks and surprises. Locking authors into perpetual contracts for their
backlist as well as front list will surely only come home and bite hard. Paying
authors poor digital royalties that look to some greedy and to others just
stubborn will only increase the flow to self-publish digitally.
It is often one thing to identify the threat and another to
focus on the opportunity. Publishers are not structured to absorb
self-publishing and by their nature are selectors and curators. We now live in
an environment where anybody can publish a video on YouTube, perform their
music in the social network arena, review whatever, write blogs, stories etc.
This is to be embraced and supported and even though many still see it as a
threat self-publishing actually compliments and can enrich traditional media
publishing.
Some previously related articles:
Digital Warming and Self-Publishing , Feb 2014
Another Day at the Races, Feb 2014
Consumers Discover Self-Publishing, June 2013
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