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Barry Eisler Walks Away From $500,000 Deal to Self-Pub
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Wow. Very exciting. I think the dam is about to burst on ebooks, finally after some twenty-odd years. Heck, I'm probably the latest adapter I know and I'm considering getting an ebook reader now.
I think in general, the world is turning into a place where we'll rely on each other for entertainment instead of corporations, and social networks will be our filters. I don't think that's such a bad thing.
Nicole
I think in general, the world is turning into a place where we'll rely on each other for entertainment instead of corporations, and social networks will be our filters. I don't think that's such a bad thing.
Nicole
Another name for the militant self-publishing brigade to cite while they sell 13 copies and say they 'are selling well.' [this was from a friend of mine who recently uploaded her book to Kindle.]
Eisler and Konrath make a lot of salient points (though I find the tone of their back-slapping interview really, really obnoxious at times) but I think the future of the publishing world is going to be more complex than they're implying.
I think their interview should be read and discussed in conjunction with this:
http://amandahocking.blogspot.com/2011/03/some-things-that-need-to-be-said.html
I think their interview should be read and discussed in conjunction with this:
http://amandahocking.blogspot.com/2011/03/some-things-that-need-to-be-said.html
A big point to consider here is that Barry Eisler (like Joe Konrath) have had the benefit of commercial publishing, which established a readership platform for them to build on. In that situation, self-publishing and particularly focusing on e-books will probably make Barry more money than a US$500k deal - so although he will still be taking a risk, there are more 'knowns' for him than there are 'unknowns' so he can offset it more.
It's one reason I have a lot of respect for Amanda Hocking, who I believe is now looking at a million dollar commercial publishing deal for her next series. She took all the risk early on and made a success of it and that's still the exception rather than the rule.
MM
It's one reason I have a lot of respect for Amanda Hocking, who I believe is now looking at a million dollar commercial publishing deal for her next series. She took all the risk early on and made a success of it and that's still the exception rather than the rule.
MM
I strongly disagree with the idea that print will be a 'niche market.' From the people I've talked to, they are saying that print and digital will exist side by side with an equal share [maybe a few percentage tilting the balance slightly.]
HarperCollins announced this morning that digital sales account for 25% of total sales.
HarperCollins announced this morning that digital sales account for 25% of total sales.
I will be following this with interest. Self publishing is hard, and I do have a huge amount of respect for anyone who does well at it.
But, like Gothic said, I see this becoming another 'but such and such did it' case study. If he does well, that's awesome, BUT he already has a readerbase, and buy turning down this deal he has generated a lot of FREE publicity for him and his book, which in turn will attract readers and more attention from people who want to see how it works out. This is NOT the same as a previously unpublished, unkown writer with no readerbase and no platform self-publishing their book, and I fear that it will encourage more people to think that if they just self published that they too will sell 10's of thousands of copies.
But, like Gothic said, I see this becoming another 'but such and such did it' case study. If he does well, that's awesome, BUT he already has a readerbase, and buy turning down this deal he has generated a lot of FREE publicity for him and his book, which in turn will attract readers and more attention from people who want to see how it works out. This is NOT the same as a previously unpublished, unkown writer with no readerbase and no platform self-publishing their book, and I fear that it will encourage more people to think that if they just self published that they too will sell 10's of thousands of copies.
I read this in a email this morning and its great but I am still hesistant this is someone who already sold hundreds if not thousands of copies in paperback form. The marketing platform for him is bigger to start with.
Shaldna your so right
Having said that the e-book revolution is underfoot.
Tapes are still around but very much a niche market. 'Experts' were predicting tapes demise to CDS YEARSSS ago but vinyl and tape are still all around even if CDs and digital are the major markets now.
Shaldna your so right
Having said that the e-book revolution is underfoot.
Tapes are still around but very much a niche market. 'Experts' were predicting tapes demise to CDS YEARSSS ago but vinyl and tape are still all around even if CDs and digital are the major markets now.
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I don't see the death of traditional publishing. Traditional publishers have a large amount of talent when it comes to Editors, Book binding, Printing, and Quality Control. Self Pubs and PODs simply cannot match it.
What will happen is that Traditional Publishers will comtinue to publish high quality books. Self Pubs and POD will get the lower quality slush sprinkled in with a few older established authors.
You read all the horror stories about agent slush piles and the terrible ideas that come through there. Imagine if all those people Self Pub'd and POD'd. It would be a huge pile of slush that readers will have to wade through to find a few gems. There are already reports of e-book readers requesting ways to filter out Self Pub books from their searches. This will continue as people see the drivel that is out there.
No, the Traditional Publishers aren't going anywhere. They may streamline, but it will be for the better.
What will happen is that Traditional Publishers will comtinue to publish high quality books. Self Pubs and POD will get the lower quality slush sprinkled in with a few older established authors.
You read all the horror stories about agent slush piles and the terrible ideas that come through there. Imagine if all those people Self Pub'd and POD'd. It would be a huge pile of slush that readers will have to wade through to find a few gems. There are already reports of e-book readers requesting ways to filter out Self Pub books from their searches. This will continue as people see the drivel that is out there.
No, the Traditional Publishers aren't going anywhere. They may streamline, but it will be for the better.
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Quite frankly, I don't want to self-publish, even if it brings in more money. I'm not a businesswoman. I don't want ANY of the hassle of putting a book together (and yes, I have done it, on Lulu; people might remember Crack of Death, but I've also printed books I've written for friends to read privately. I hated doing it and I hated the result.) and I don't want ANY of the hassle of marketing, calculating stuff, even thinking about the money side of it. I hate that stuff and I want to be in the hands of a mighty, respectable publisher. I don't WANT to do it all myself, and that would be the case even if I were to be a best-selling author. I'm not impressed by the term indie author. I prefer the term Penguin (or whatever) author. I want an editor to hold my hand throughout the process. I want to only write.
They do raise some interesting points, but AWers here have already shown why these guys are not the right models for someone entering the business as a new or come-back writer.
They do raise some interesting points, but AWers here have already shown why these guys are not the right models for someone entering the business as a new or come-back writer.
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I was at a publishing seminar last week, with a presentation from a small children's book publisher [when I say small, it's run by 2 people.] I thought I was unshockable, but my jaw hit the floor when I realised just how much these ladies were doing to launch just one book.
And these ladies are deeply experienced publishers. They had worked for a good sized independent publisher, who had ceased trading due to the economy. What they did, is buy the children's arm of the business and have since won prestigous awards.
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I can just imagine it. The very idea of it is daunting. I agree that there are certain personality types who might enjoy that kind of thing and are good at it, but I'm not one of them. I remember Toothpaste once wrote an excellent post on the subject. I hope she chimes in here soon.
If you're a reasonably well known and successful author, then disintermediating the publisher could easily result in making more money. Or it serves to pressurise the publisher into either upping your percentage or advance.
It requires more work. It might reduce your sales. On the other side it ups control of deadlines, content and fan base.
Risky move and probably only for those who have a strong, established and loyal reader base.
It requires more work. It might reduce your sales. On the other side it ups control of deadlines, content and fan base.
Risky move and probably only for those who have a strong, established and loyal reader base.
The big news is going to be in a year when we find out if this was a good idea or not.
I think he should have taken the money. I suspect that a year from now we'll be seeing little if any news as he slinks back to the publisher after discovering that he really *does* need that nasty print version of his book distributed to all the stores, promotional help, etc.
It must be nice to blow off a half-million on a maybe. Wonder if Konrath is willing to cover that bet.
I think not.
Anyway, a year will tell...
I think he should have taken the money. I suspect that a year from now we'll be seeing little if any news as he slinks back to the publisher after discovering that he really *does* need that nasty print version of his book distributed to all the stores, promotional help, etc.
It must be nice to blow off a half-million on a maybe. Wonder if Konrath is willing to cover that bet.
I think not.
Anyway, a year will tell...
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I guess I don't see how it's risky.
*People used to reading him on their ereaders won't notice anything different at all.
*He's got a fan base.
*As noted, ebooks are already 25% of the total at one big print pub - that number isn't going to drop.
*At a 70% royalty, he doesn't need to sell as many books to get that half mill. (And technically, his 500K deal was for two books. For this book to "win the bet" he only needs to make 250K.)
*At Barnes and Noble he'd have been off the endcap within a month, and most of the books on display remaindered. As a self-pub, he'll have no returns at all.
* Someone else could still buy his print rights. If a publisher says his print rights aren't of value without the digital rights... well... that's not an argument AGAINST what he's doing, you know?
* This in no way precludes him from signing another deal with another publisher in the future. It's just one book.
As I said, I see no risk.
Edit to add: *I* would have taken the money. I'm nobody from nowhere. 500K represents more than ten years of day job salary to me, and my book sales are in the low four figures
An advance like that would let me take care of my family for a long time while I focused on my writing. He... does not have that motivation.
My, well, more than TWO cents.
*People used to reading him on their ereaders won't notice anything different at all.
*He's got a fan base.
*As noted, ebooks are already 25% of the total at one big print pub - that number isn't going to drop.
*At a 70% royalty, he doesn't need to sell as many books to get that half mill. (And technically, his 500K deal was for two books. For this book to "win the bet" he only needs to make 250K.)
*At Barnes and Noble he'd have been off the endcap within a month, and most of the books on display remaindered. As a self-pub, he'll have no returns at all.
* Someone else could still buy his print rights. If a publisher says his print rights aren't of value without the digital rights... well... that's not an argument AGAINST what he's doing, you know?
* This in no way precludes him from signing another deal with another publisher in the future. It's just one book.
As I said, I see no risk.
Edit to add: *I* would have taken the money. I'm nobody from nowhere. 500K represents more than ten years of day job salary to me, and my book sales are in the low four figures
An advance like that would let me take care of my family for a long time while I focused on my writing. He... does not have that motivation.My, well, more than TWO cents.
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I think most of us would have taken that deal especially without an established fanbase. Though of us who do have a good reader base probably would prefer to focus on writing than self publishing.
I usually don't like to just quote others without giving my opinion, but this one is worth quoting. It's succinct.
Barry has an established fan-base and can make the leap. It's a gutsy call, but he can run the numbers based on traditional sales histories and give it a go.
Aside from Amanda Hocking (who despite her indie success is now at auction for a seven-figure book deal with traditional publishers) it's hard to make a living as a self-pubbed author.
That being stated, ebook royalties from most traditional publishers are terrible.
Aside from Amanda Hocking (who despite her indie success is now at auction for a seven-figure book deal with traditional publishers) it's hard to make a living as a self-pubbed author.
That being stated, ebook royalties from most traditional publishers are terrible.
I wouldn't just take the deal, I would have already bought a house and quit my day job.
That is the equivalent of 45 years salary to me.
I'm writing a series around the Stewart dynasty. I see a big slice of my market being tourists who visit places like Edinburgh castle etc. I wouldn't even know where to start how to get Historic Scotland or The National Trust for Scotland to stock my books.
You can't buy an ebook on impulse will visiting Stirling Castle can you?
You chat up their ordering person.
Yup.You can't buy an ebook on impulse will visiting Stirling Castle can you?
As for the article, yeah it's not such a leap for someone with a reader base. And I'm not sure about the 'if ebooks take off we won't need publishers'
ebook =/= self pub. I know I'd sure as heck need an editor/cover artist/marketing help. Those are the things that publishers already know how to do. Why would I chuck in their expertise? And tbh, if I look at a selfpub ebook and then at one pubbed by an epub, it's pretty easy to spot the difference 99 times out of 100. If I want one that looks as good while self-pubbing, that's either time away from writing (a lot of time) or money.
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Well, as I've opined before...judging the current situation vis-a-vis commercial publishing and ebooks as the way it's always going to be is premature.
The changes in commercial publishing since 2008 have been dramatic--even savage in some quarters--and those of us who made our livings as writers have had to reassess the way we manage our careers.
Things are patently not the way they were even five years ago.
Regardless, barring some sort of selective EMP which throws everything back to the days of vacuum tubes, there is no financial or cultural inducement for the publishing pendulum to swing back to an earlier era.
Publishers will invest in any method to get their product out to as wide a consumer base as possible. There's no reason why writers shouldn't do the same.
Aspiring novelists in particular should investigate all avenues open to them with as pragmatic a mindset as possible and not lock themselves into one way and one way only, especially if they hope to build a writing career.
The changes in commercial publishing since 2008 have been dramatic--even savage in some quarters--and those of us who made our livings as writers have had to reassess the way we manage our careers.
Things are patently not the way they were even five years ago.
Regardless, barring some sort of selective EMP which throws everything back to the days of vacuum tubes, there is no financial or cultural inducement for the publishing pendulum to swing back to an earlier era.
Publishers will invest in any method to get their product out to as wide a consumer base as possible. There's no reason why writers shouldn't do the same.
Aspiring novelists in particular should investigate all avenues open to them with as pragmatic a mindset as possible and not lock themselves into one way and one way only, especially if they hope to build a writing career.
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