Another Big Problem for Traditional Publishers: AmazonEncore
Joe Konrath, the previously-midlist-now-famous thriller writer has just signed his first deal with AmazonEncore, which is Amazon’s new publishing imprint. His newest novel, Shaken, will be released by Amazon on Kindle and also in paperback. Here’s a snippet of the news release:
SEATTLE-May 17, 2010-Amazon.com, Inc. (NASDAQ: AMZN) today announced that AmazonEncore, Amazon’s publishing imprint, will release the newest book in bestselling author J.A. Konrath’s Jacqueline “Jack” Daniels series, “Shaken.” The AmazonEncore Kindle edition of “Shaken” will be available in the Kindle Store, and the print version of the book will be available in February 2011.
Konrath has been talking about self-publishing and the emerging power of Kindle for a long time. When Amazon took over CreateSpace and Booksurge, they became book printers. Now, they have officially become book publishers– and they are able to handle every aspect of the publishing cycle, from start to finish.
Where does that leave the traditional publishers? I’m afraid things aren’t looking very good for them.
Maybe the better question to ask is; why didn’t the big publishers attempt this business model themselves?
The Internet has made direct sales so easy. Why didn’t traditional publishing attempt to sell directly to the public? Were they afraid of alienating the brick and mortar stores, like Borders and Barnes and Noble?
Well, Borders is now (almost) defunct, having filed for bankruptcy protection earlier this year. Barnes and Noble made a more intelligent choice and launched Barnes and Noble and the well-designed Nook in 2009. Unfortunately, they underestimated the demand and sold out of the e-reader almost immediately. Stupid.
But it’s possible that BarnesandNoble.com will become Amazon’s greatest online competitor, and B&N has a very good chance to become the next online bookselling Juggernaut. They should consider making direct-author deals like Amazon, and they should also think about launching a POD printing and publishing service like CreateSpace, which is another good profit center for Amazon.
I think that there is a huge market for backlist and out-of-print titles. Barnes and Noble and Amazon should approach authors directly in order to secure digital rights to these older books. Many of these book rights have reverted back to the authors (or to their estates) and the books are a great potential source of revenue with very little up-front cost to re-publish.
These direct-author deals are “game changers.” This means that the world of publishing will never be the same. It’s an historic time for writers and small press books. I’m happy to watch it all unfold.
About the Author
Christy Pinheiro is an Enrolled Agent and holds a Bachelor’s degree from San Jose State University. She was a staff accountant for a private CPA firm and also for the State of California before going into private practice. See her website at www.ChristyPinheiro.com.
She is the co-author of the Passkey Publications Enrolled Agent Exam Review Series.
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