Friday, May 28, 2010

Publish or Perish

Can the iPad topple the Kindle, and save the book business? by Ken Auletta

This interesting article from the New Yorker (April 26, 2010) provides an interesting look into the book publishing industry. Here are some snippets that I took from his insightful article:

  • e-books (although increasing in popularity) account for 3-5% of the market
  • "Amazon had been buying many e-books from publishers for about $13 and selling them for $9.99 to increase market share and encourage sales of the Kindle."
  • Publishers didn't like the $9.99 price and was concerned about setting a price precedent in buyer's minds.
  • "The decision to enter publishing was a reversal for [Steve] Jobs, who two years ago said the book publishing industry was unsalvageable."
  • "Traditionally, publishers have sold books to stores, with the wholesale price for hardcovers set at fifty per cent of the cover price."
  • "Authors are paid royalities at a rate of about fifteen per cent of the cover price."
If you're interested in reading more please see the full article here. (you must have an active myBama password and login).