Archive for the ‘Subsidy Publishing’ Category
Innovate with Integrity
November 24th, 2009 by Jenni BurkeThe internet is abuzz with chatter from publishers, writers, agents, and other self-professed “word nerds” like myself… tweeting, blogging, and commenting on the rapidly expanding role of self-publishing.
Many industry insiders say that the traditional publishing model is broken. The speed of change taking place in recent years proves that even if it’s not broken, it is definitely evolving. And while those waves of change have and will continue to upset the status quo, the companies and individuals who recognize the inevitability (and potential benefits) of change will find creative ways to adapt and stay ahead of the curve. Those who do this well will keep the needs of their customers in mind and always partner innovation with integrity.
I love the concept of innovation: to create or introduce a new idea or method. Of course, those who lead in innovation will inevitably attract criticism and resistance from those who fear change or like things “the way they are”. Thomas Nelson’s CEO Michael Hyatt is highly respected in the industry for his innovative leadership style combined with integrity; that combination has led Thomas Nelson on as one of the most successful Christian publishers in the world. Hyatt has also attracted criticism from some lately for his company’s recent bold move into self-publishing.
He posted a thoughtful yet animated response to this criticism on his blog on Friday: Why Agents May Be Opposed to Self Publishing. In the post he examines the three most common arguments leveled against self-publishing by “the guild”, or those within the industry. He also points out that over half the books published in the United States are self-published and that the reason people (especially agents) lash out against the approach may be because they feel threatened by a disruption of the status quo. Interesting, no?
Hyatt concluded his post with this reality-check on the inevitability of change, challenging everyone in publishing to examine how they might be dragging their feet instead of taking steps forward:
“As a form of user-generated content, self-publishing is a disruptive force that isn’t going away. It is arguably the fastest growing segment of publishing. It will ultimately impact everyone in traditional publishing. As a result, publishers are having to change and so are authors. Maybe it’s time agents took a hard look at their own business model and asked how they can add value in the new publishing economy.”
We at D.C. Jacobson & Associates agree with Mike that the “traditional” business models need to be re-examined. Our company was, after all, founded on principles of innovation and integrity. When Don Jacobson sold his successful Multnomah Publishers to Random House in 2006 and asked himself how he could continue adding value to the industry he loved, he saw the need for a new kind of literary agency.
While our primary focus is placing excellent books with royalty publishers, our growing team of specialists is passionate about contributing to the production and promotion of life-changing messages on multiple levels. Together we offer our clients the highest quality of service in three distinct but complementary branches: Author Representation, market-informed Literary Consultation , and Publicity Campaigns & Consulting. The community at BelieversPress is a great example of vision and values, which is why we love working with them.
Some who prefer things “the way they were” have taken shots at us; maybe they’re the ones Mike Hyatt’s blog post is speaking about. We don’t listen to them; we listen to the success stories of our authors and publishers. We will continue to look ahead and innovate with integrity. As the saying goes, “keep your heart pure and drive on.”
QUESTION: What do you think about the changes you see taking place across the publishing industry?
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The High Price of Subsidy Publishing
October 16th, 2009 by Nick CiskeIn a recent Publishers Weekly Email Newsletter I saw an ad for a poetry chapbook. It was a ‘boom box’ ad — a big square ad right in the middle of the text — which lists for $1,000. When I clicked on the ad, I was taken to a subsidy publisher’s bookstore… and my heart fell.
The list price of this 48 page chapbook of poetry was… $15.99!
Why such a high price?
$15.99 is the retail price this subsidy publisher assigns to all books under 107 pages, regardless of what the market would charge. You see, this pricing scheme is all about protecting their profit margin on sales (and since they pay per page for POD printing, they set retail price based on page count).
The author makes about $2.50 per sale at this price, but the high price is definitely hurting sales. Much longer poetry books from major publishers sell for $10.99-$13.99. I found one similar poetry book for $16.95, but it was a hardcover!
If you’re self-publishing, you should set the retail price!
The author of this book could have set their own price for the book, for $250 more. Had they reduced the retail price to $12.99 (the lowest option) the royalty would have dropped to $1.00 per book. The author would have to sell 166 books just to pay for the privilege of changing the retail price to something better, but still above the market price for such a short book.
One of the major issues with using a subsidy publisher is the amount of control they exert over your book (even when you’re picking up the tab) — and that they charge you to set the price of your own book! Traditional publishers set the retail price of their books because they are taking all the risk. They decide if a lower price is worth the extra sales it may generate, or if the book warrants a higher price due to the value it brings. Page count is certianly part of that calculation, but definitely not the only one. At BelieversPress, you always set the retail price of your book.
But wait, what about distribution?
Now, since this ad appeared in PW, I’m assuming the author was hoping bookstores would order this book (what author doesn’t?).
In order to have this book distributed, the cost is $500 (a massive markup on their cost). But that’s just distribution — the book would be listed as non-returnable, meaning no bookstore is going to order it unless they have a confirmed order. So you have to add their bookstore returnability program at $700/year (or $1,300 for 3 years).
Assuming they went for a year to test the waters, the distribution tab is now at $1,200 on top of what they paid to have their book “published” by this company. At $2.50 per book, the author has to sell 480 books before they even start paying for the publishing costs (and 280 books per year just to pay for returnability). At $1 per book, it’s 1,200 and 700 respectively.
At BelieversPress, we’ll distribute your Christian book for a one time fee of $150 and that includes returnability!
The high price of subsidy publishing
Before you consider using a subsidy publisher to get your book published, do the math. The package prices may look great, but it’s the hidden dangers that can turn your elation at being “published” to frustration that you have a book that won’t sell.
We’re here to help
Our free Guide to Christian Publishing covers the pros and cons of the various paths to publication. Have you requested your copy yet?
If you’re considering using a subsidy publisher to publish your Christian book, please contact us first — we’d love to help you “do the math” and understand how BelieversPress really stacks up.
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Every time we hesitate to begin for fear of failing or seeming frivolous, we must fill that moment of hesitation with prayer. Then we must follow that prayer with action, with doing something, anything that will get us moving forward in the practice of our art.
— , The Creative Call
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