Session Four: The Future of Publishing, Part 2
Novelists, Inc. Conference St. Pete Beach Oct. 2014

If you have a better sense of what you have going in to your career, you have a better chance of coming out where you want. You should have an audio book, because people are busy and commuting.

Globalization means growth in market places around the world. There is a huge global market for English language books.

What’s coming? Specialization of content, shorter content, fan fiction, micro-content. People are reading but not necessarily a novel. They read blogs, Facebook posts, and other material. We need to figure out how to monetize these things.

Another futuristic innovation might be micro-transactions where the reader clicks a button to send a dollar to an author. There will be more collaborative efforts like ACX, translations, and author collectives. Another trend might be personalization in how content is served. We need to be ready to embrace change and accept opportunities as they arise.

There’s a shift of empowerment toward authors because of technology. This is the slowest the change will go as it is right now. But you, the author, must continue to produce the very best book you can, or nothing else matters.

What authors need is data about what readers want and where to find them. The Book Industry Study Group collects book data. How do we turn this data into usable information for our careers? New retail models are coming. The digital disruption is going to be very destructive. Agents may go away [or they can be useful for subsidiary rights]. On the other hand, things are changing and that’s frightening, but they’re going to move forward.

When will there be an “Authors United”? Authors should use their scale to push our issues.

Brick-and-mortar booksellers have a disadvantage when a hardcover sells for nearly $30 and an e-book sells for $9.99. Retailers are concerned about surviving this price differential.

Windowing your release dates is crazy because readers will buy books in all formats. Your book should be released at the same time in e-book, paperback and hardcover. These are not different audiences.

We haven’t seen peer retailing emerge, and we need to be prepared. People communicate around the world in E-commerce. We need to be ready to sell directly to readers and to analyze the data on discount sales and on what platforms people want to receive their books.

Check out Wattpad, Payhip and Hugh Howey’s authorearnings.com

Note: Any errors in this article are due to my interpretations. As many ideas flew back and forth during each session, I mention what I gleaned from the panels, and you can take from it whatever serves your needs.

So what trends do you predict? And how are you preparing for them?

See all of my Photos in the Ninc album on my Facebook Page 

Coming Next: BookBub

Session Three: Rights: Yours, Theirs and Ours
Novelists, Inc. Conference St. Pete Beach Oct. 2014

What will bring back the career authors who have more sales and control with indie publishing? “The job of the publisher is to provide the author with a platform. Print books are essential to this,” said one speaker. “It’s our job to help you amplify your voice to readers. Readers want to connect with the author. Finding a social media audience should be up to the publisher.” But another panelist said authors are often expected to show up with a platform.

Publishers are reluctant to buy books previously indie published. There’s a price differential from a $2.99 indie e-book to a $7.99 e-book with a  traditional publisher, and readers balk at the difference. The customer is also different going from digital to bookstore. You’re selling to a completely different audience.

More transparency and true negotiations are needed to attract writers back to traditional publishing. What we need are term limits for authors to get their rights back. The out-of-print clauses for publishers are operated from a sense of fear that something they let go will take off and become a bestseller. Publishers need to brag about their good contract terms instead of being afraid of the competition. They need to show more transparency regarding the terms they offer.

It’s useless to get specific marketing promises from a publisher. Technology changes as you go along, and some of the activities promised may be based on sales figures. That type of legal detail is a waste of time and energy. But you should have these conversations outside of the contractual agreement.

Publishers are interested in what kind of future you, as the author, can project. They’re not interested in your backlist as much as your frontlist when they seek to acquire you.

The non-competition clause was discussed. Is it really necessary? Authors say it’s a career destroyer. They don’t believe they’ll cannibalize their own work as publishers fear. Publishers are worried about saturating the market. Print books need time to get into bookstores. They worry about quality control with self-published works that authors might offer in between traditionally published novels. Authors would love to be hybrids but not to the detriment of making a living if they can’t publish a new book for a certain number of months as per their contract.

The big five are pretty much not taking print rights only and letting authors keep their e-book rights. E-book royalties produce a huge profit margin for publishers.

Publishers are going to look at a successful indie author to see if she’s peaked. Could she benefit from transitioning to traditional publishing to pick up a new audience? You can’t assume your track record will carry over. It will not work for your backlist only. You need new books as well. How can the publisher use this backlist to carry you over from one world to another?

Regarding the 25% net royalty for e-books that is standard for traditional publishers—is the overhead in their fancy New York offices really necessary in the digital age? Publishers make a profit even before the author earns out an advance. Successful authors can still get a raise on their advances.

Note: Any errors in this article are due to my interpretations. As many ideas flew back and forth during each session, I mention what I gleaned from the panels, and you can take from it whatever serves your needs.

See all of my Photos in the Ninc album on my Facebook Page 

Coming Next: The Future of Publishing, Part 2