From Business Spectator:
When Johannes Gutenberg invented the printing press, he said it would give wings to truth so that it may fly with the word.
The latest volume of the industry’s revolution has come to printing houses relatively late. Book makers are scrambling to embrace ebooks and the rise of internet while fending off self-published ebook authors and online sellers.
. . . .
In recent years, the sale of physical books in Australia suggests the publishing industry is in decline. According to Nielsen Bookscan figures, national sales of print books fell 12.6 per cent to $1.078 billion in 2011. This followed a four per cent decline to $1.213 billion in the previous year.
The trend is expected to continue as online book sales rise and self-published ebooks become more common. According to Amazon’s unaudited sales figures in the United Kingdom, for every 100 physical books sold, readers downloaded 114 ebooks.
. . . .
Publishers believe their competitive advantage rests in producing well-written, best-selling material. According to an industry insider, publishers see the value of their skills in editing, promoting and filtering material as adding value when compared to the haphazard approach employed by many self-published authors.
These authors often find their material lacks the credibility that comes with being attached to a publishing house. By choosing to submit their work through a publisher, authors see their works marketed directly to their intended audience.
Link to the rest at Business Spectator