Bold predictions for the future of publishing

Where do you see the publishing industry in 5, 10, or even 20 years? If that question boggles your mind, just consider all the changes that have taken place in publishing over the last decade: ebooks are gaining strength, POD is a more viable option for many, and self-publishing is losing more of the bad (vanity press) image it once had.

Don’t take my word for it, however, because there are a lot of people out there pondering the future of publishing. In fact, HarperCollins will be releasing a book in February called What’s Next: The Experts Guide that will give the expert opinions from 50 people in their respective fields. Among them will be Joni Evans, a former executive from William Morris, who will give her predictions regarding the world of publishing.

An article on Publishers Weekly website gave a brief excerpt of what Evans had to say, and I think many of you who follow developments in publishing will applaud her:

The publishing industry is bound to change just as the music industry and the television industry has. New technology is transforming our ways of accessing content. In the future, I’d love to see books available in every format—print, digital, online, print on demand, CDs, wireless audio, and so on. Books, the ultimate software, should be available on all platforms. Once digital publishing becomes common, I believe that all the publishing industry and all writers will have an explosion in sales.

Everything she listed above are changes we’re seeing right now, with maybe a few exceptions (wireless audio?). But as the article continues, Evans gives, what can be perceived as, a stern warning to the mainstream publishing industry at large:

The best way for publishers to remain lucrative and grow profits in the future is by getting rid of old systems and old attitudes. Publishers need to stop behaving like venture capitalists (running away the first week the book doesn’t sell) and really stick with the books and authors over the long haul. Get rid of the returns system in bookstores (it’s like airlines that still use paper tickets).

In other words, book publishers need to rethink their entire business model and usher in a new model that is compatible with emerging technologies of the 21st Century (whew…that was a mouthful!). Evans is right, however, many of the practices are outdated and costly, both for publishers and authors.

Evans goes on to say that book publishers need to stop fighting everyone they think is a threat to their profits (ie. Google’s book project). So instead of suing Google, work with them to form a compromise that can benefit everyone. In other words, don’t be like the music industry in this regard.

I hope the publishing world takes note they cannot continue on the way they have been. The world is not the same place it was fifty years ago and people are not consuming books as they once did. Many authors are already striking out on their own because they believe they can be successful with today’s technology (and many are), and they don’t need a large publishing house behind them to sell books.

The good news is that we’re on the cusp in many areas. Ebooks, for example, are just waiting to explode into the mainstream market. All it will take is the right reading device and a tech/market savvy publishing company to sell them to the masses for a healthy profit.

Also, POD technology won’t just change the face of self-publishing, but traditional publishing as well. Just think of walking up to a kiosk at a mall, store, airport or anywhere else a lot of people gather,then browsing titles in your favorite genre. Once you have a book selected you pay with a credit card and a few minutes later your book is sitting there waiting to be read! Because there’s no stocking and shipping cost involved, the price of the book is much lower than going to a traditional bookstore.

In other words, the possibilities are endless. All it will take is a little innovation and creative risk on the part of one large publishing house to swing a new era into the literary world!

Read the entire Publishers Weekly article here:
Joni Evans On "What’s Next" in Publishing

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