From author Ed Robertson via David Gaughran’s blog:
I’m a self-publisher. An indie author. Whatever you want to call me. I’ve read many articles about how self-publishers are killing the book industry. I’ve heard it from big publishing houses. From the president of the Author’s Guild. From traditionally published novelists and agents and even other self-publishers. If I want, I bet I can find a new one of these articles every single day.
But I won’t, because I no longer believe them.
Self-publishers don’t have the power to kill the publishing industry. I don’t think anyone does. But we do have the power to change it. We already have – and paradoxically, this change isn’t a change at all. And instead of killing books, this change has helped resurrect them.
We aren’t the first to be accused of killing the industry. In 1939, Robert de Graff threatened to kill publishing, too. At the tail end of the Great Depression, when hardcovers regularly sold for between $2.50-$3.00, he started selling paperback Pocket Books for $0.25.
To put that in 2012 dollars, hardcovers cost roughly $40-50. The new paperbacks, the first of their kind in American markets, cost the equivalent of $4.16. In modern terms, a book that once cost as much as a coffee maker now cost as little as a cup of coffee. A book that once cost as much as a full tank of gas now cost as little as a gallon.
. . . .
He says big publishers have raised the price of books far beyond the rate of inflation, driving away readers and strangling the market. He doesn’t cite numbers. I will.
- From 1939-1961, many paperbacks sold for $0.25-0.35. In 2012 dollars, prices started at $4.16 and decreased to as little as $2.71.
- By 1966-68, low-end prices bubbled back up to $0.60-0.75. In 2012, that’s $3.99-4.99.
- By 1972-75, mass market paperbacks kept on climbing to $0.95-1.25. In 2012, that’s $5.26-6.92.
- By the mid 1980s, mass markets hit $2.95-3.95. In 2012, that’s $6.34-8.49, with some beyond $9.50.
In short, relative prices slowly decreased between 1939-1961. By 1966, they climbed steeply, peaking around 1982-86 at an inflation-adjusted $7.99 (or more). The price of most mass market paperbacks has remained there ever since. In less than two decades, paperbacks cost 295% what they did in the years before.
. . . .
I don’t know that the consolidation of the publishing industry was a direct cause of this massive surge in prices. But if I had to bet, I would bet that these mergers resulted in a de facto monopoly, a semi-collusive state where publishers raised prices simply because they could. I don’t think these price increases were natural or inevitable.
. . . .
And when the opportunity finally arose, indie authors stepped in to that gap. If indies have killed anything, it’s the idea that books need to cost as much as they do. Many indies have gone so far as to sell their books for $0.99, or give them away for free. Confronted with this novelty, and constrained by their own recession-tightened budgets, readers have snapped up these cheapest books, leading to a constant deluge of arguments that self-published authors have gone too far, that these prices are unsustainable, that in their race to the bottom, they’ll ruin the market for everyone.
The proper dismantling of these fears would require a response even longer than this one. I will say that indie authors need to eat, too. The rising class of professional self-publishers has to pay for cover artists, editing, proofreading, and advertising of its own. To treat writing as a job, indie authors have to find a way to be paid like it’s a job. In the meantime, self-publishing platforms like Amazon’s prevent prices from bottoming out by rewarding higher prices with better royalty rates and more visibility.
And readers help keep prices from zeroing out by proving by the millions that they are willing to pay a few dollars for books by the indie authors they love.
Very strangely, if you look at many of the moment’s most successful indies, the prices they charge – $2.99, $3.99, $4.99 – are the exact same prices readers paid more than fifty years ago. Indies are the new Pocket Books. And some of them are very, very good. I expect several classics have already been self-published. Able to buy and explore at prices they haven’t seen in half a century, readers are giving us real careers. In return, we’re able to offer them even better books.
Link to much more at Let’s Get Digital and thanks to David for the tip.