The Print Media |
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Books
Present and Future Now that we've put some of the major issues in book publishing into a historic perspective, we can look at some present and future issues.
First, let's look at the book publishing process. If you are an aspiring author, you need to know that today most of the larger book publishers refuse to look at unsolicited manuscripts. They simply don't have the time or resources to sort through the mountain of manuscripts they would receive. Instead, they rely on submissions from trusted agents who represent established or highly promising authors. Thus, the first hurdle authors can have is to interest a respected agent to represent them. For representing an author agents receive 10 to 15% of the royalties that are paid to the author--assuming, of course, that the book is published and is successful. Royalties paid to authors by the book publisher range from 10 to 15 percent of the selling price of the book. For example, if an author receives a $3 royalty on each book sold, the agent would receive 30 to 45 cents on each book. Although it is said that almost everyone can produce one novel, agents are looking for writers who have demonstrated that they are dedicated writers--writers who over a period of time will keep producing quality work. A good agent knows the literary field, as well as the needs and predispositions of specific publishers. An agent can also provide important guidance to an author. To ensure their own success and credibility with publishers, agents understandably want to represent authors with a track record of success. Occasionally, they will take a chance on an unknown author who either evidences exceptional talent or is in a position to tell a unique story. So far we've been talking about large publishers with the resources to distribute and promote books--both critical elements in a book's success. When dealing with smaller publishers, authors may propose a book idea directly to publisher's acquisitions editor. The acquisitions editor works for a publisher and is responsible for finding new projects and acting as a liaison between authors and publishers. The typical book proposal consists of a book outline and one or more sample chapters. In technical fields and with textbooks the acquisitions editor will typically have this material reviewed by paid experts in the field before making a final decision. If a decision is made to publish the book, an in-house editor (who guides the overall project) and a copy editor (who catches writing errors and gets the manuscript ready for typesetting) will be assigned to follow the manuscript to publication. Deciding to publish a book is an expensive and time-consuming process, and the chances of a book failing to make a profit are very high. In fact, most books lose money. It is only the books that end up being highly successful that compensate for the losses. In the case of novels that seem to have real potential, the acquisitions editor and agent may negotiate subsidiary rights, or the right to make a film based on the book, or to sell products based the book's concept or characters. For successful books the profits from subsidiary rights can exceed those for the actual book.
For example, during her lunch break this office worker can escape into the spy world of author John LeCarre. Unlike TV or movies, books allow us to use our imagination when we "see" the characters and situations depicted. We can mold them according to our personal tastes and inclinations. Books are also highly "portable"; we can stuff a paperback novel in a pocket, in case we need to pass some time at an airport, during a lunch break, or while taking a bus or subway to work. We can go back and reread segments, or skip over parts that don't interest us. We can even mark passages to study or savor at a later time. Books have been around for centuries, and although each new media innovation may cut into reading time, it is doubtful that any will be able to take the place of books. But, of course, when it comes to the effect of innovation, people have learned the hard way, "never to say never."
As we've previously noted, from 1970 to the present we've seen major consolidation in book publishing. Today, book publishing is run by a few large corporations. Most are media conglomerates that may also own film studios, magazines, newspapers, and broadcast outlets. The major ones include Paramount Publishing, Reader's Digest Association, Time Publishing Group, Random House and HarperCollins. Since they are conglomerates, they
can take advantage of the synergy between their holdings. For example,
a book can be picked up by one of their film studios and then promoted
on their broadcast outlets and publications. As an example, the Star Trek movies are made by Paramount Pictures, which is part of Paramount Publishing. Since Paramount Publishing is also a book publisher, they have published numerous Star Trek books--selling about 70-million copies. In addition, they have also created Star Trek CD-ROM's.
Most book publishing companies have four divisions:
The Internet has both helped and hindered books. While the Internet has stolen some available free time of potential readers, it has also introduced readers to new avenues of interest. Through outlets such as Amazon.com it has opened up a direct link to book sales. Rather than travel to a bookstore, potential buyers can sit at home and with a few mouse clocks check prices for new and used versions of the book they are considering. Before they order a book, they can also read what scores of other buyers think of it; and then after reading it, they can publish their own review. Since these Internet outlets can stock millions of books, buyers don't have to worry about not finding what they are looking for at their local bookstore. If the book is out of print, (which means that new copies are no longer available from the publisher), it can generally be found at one of the many associated used book dealers--generally at a fraction of the original price. And, while there is an added cost of postage for Internet sales, the discount that is often available may cover the postage. The major disadvantage, of course, is that you generally have to wait a week or so before receiving the book. A few publishers and even some well-known authors are putting their works on the Internet where they can be read--generally for a fee. Although this can save $100,000 or more on book production costs, the revenue from this form of publication has yet make it an attractive business. Some of the initial problems with Internet books are being solved with smaller and lighter notebook computers, higher resolution screens, and wireless Internet connections. Although color illustrations are quite expensive in books, on the Internet they are relatively inexpensive. As the readers of these modules know, the Internet also provides the opportunity for animation, and even film clips and sound files. Plus, when new information becomes available, Internet material can be updated within a few days, or even a few minutes. Since books typically spend a year or so in production, parts of them can be out of date even before they are published. |
In
addition to representing the world's most extensive record of ideas
and information, books provide us with enjoyment and relaxation.
To promote the book, authors may be interviewed on their radio and
TV stations, and book chapters or reviews may be included in
one of their periodicals.|
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