From Australia.To News
By Ransom Stephens
Three mistakes will plague the six huge publishing conglomerates, a.k.a., the Six Sisters: first, their blockbuster profit model is unsustainable; second, they're not capable of marketing those titles that are in the market segment with the greatest profit potential; and, third, they've stopped nurturing the majority of their talent with the editorial and promotional nutrition necessary for them to blossom into bestselling authors, the so-called mid-list authors whose early efforts showed enough promise to be published, but didn't return a profit. It looks a lot like what sickened Time-Warner/AOL, Sears and IBM and killed DEC.
Publishers' role as the gatekeepers of quality has always been dubious. Do book buyers have brand loyalty? Do you check the publisher before buying a book? Once we jump the low hurdle of spelling, grammar and minimal storytelling skill, literary merit is nearly as subjective as your favorite color. In a world where musicians can sell their best songs on iTunes, the only thing maintaining publishing's quality-control role is the carefully manicured perception that self-publishing is anathema to aspiring professional authors. Publishing, through its marketing plans and budgets, today effectively controls who sees what book. But the grip of the industry's role of gatekeeper is about to go.
The publishing company that turns the corner, leaving the Six Sisters in the dust, will leave will leave quality control to authors - even grammar and spelling.
The obvious candidates include Yahoo and Amazon, but I think they are already too big and stodgy to make the move; Google has everything necessary on its place, but might be too fragmented to make the move; the big self-publishing companies Lulu and iUniverse are well positioned but might be too burdened by the "vanity press" label to emerge. Right now, I think the smart money is on Scribd.com. Anyway, for the sake of argument, let's call the emerging company NetBoox. . .
Read the rest of this economically sound article Here. You won't regret it.