Print media in decline
As more newspapers and magazines downsize, go online-only or shut down altogether, declining interest in print media is affecting the book publishing market as well.
Author Solutions, a large U.S. self-publishing firm has purchased Trafford Publishing, a smaller Canadian self-publisher. The Wall Street Journal says this is because “the traditional book industry is in turmoil.”
Companies don’t share details
Private-equity firm Bertram Capital Management LLC, owner of Author Solutions, declined to share details of the deal. Bertram is based in San Mateo, Calif. The company also purchased Xlibris, another competitor, in January.
Print on demand
Self-publishing firms have gained popularity among budding writers. Self-publishers allow authors to publish their work without having to jump through the hoops normally presented by large, traditional publishers. They also save trees and authors’ money with their print-on-demand feature.
Self-publishing authors don’t have to take out huge personal loans for printing costs anymore. Copies of their books are only printed when a customer orders it.
Making technology work for you
While technology makes it easier for authors to get their work published, it is also largely blamed for the decline in popularity of print media. As people turn to the Internet more and more, hard copies of many types of reading material are heading toward being obsolete.
Technology is changing the way people read books.
However, Author Solutions has figured out how to make increase in dependence on the Internet work in its favor. Authors can get their work published online through iUniverse for minimal cost. Customers can order and read books online.
Success story
Lisa Genova is a good example of how online self-publishing firms can help first-time novelists. After shopping her book around to several traditional publishing houses, she decided to try the self-publish route. She published her book through iUniverse. It got good reviews on Amazon.com and in the Boston Globe. In years past, self-published novels rarely got reviewed in major news media.
The increasingly web-centric culture means it’s now more likely self-published novels, which aren’t highly publicized, will generate interest.
I am an author in the UK who published through Trafford – a company I found to be honest, willing to talk to me and friendly. Unknown to me, suddenly I find Trafford is no longer my publisher and they have sold my books to Author solutions. Author solutions seem to be secretive, dishonest and most unhelpful. It appears they have taken over the rights to my books, can sell them at any price they like – in $’s not in £’s, as I wish. I no longer have access to find out my Royalties and it appears to me they have stolen my books. I can’t even buy my books at a reasonable price any more. Comments from other authors in a similar position would be useful to hear