10 Trends Driving the Future of Authorship (Smashwords tutorial series, #4)
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10 Trends Driving the Future of Authorship (Smashwords tutorial series, #4)

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Learn the 10 publishing industry trends that will most impact the future for book authors. Mark Coker, founder of Smashwords, examines how the simultaneous rise of ebooks, self-publishing and ...

Learn the 10 publishing industry trends that will most impact the future for book authors. Mark Coker, founder of Smashwords, examines how the simultaneous rise of ebooks, self-publishing and democratized access to retailers will forever transform the publishing landscape. Learn how the power center in the publishing industry is shifting from publishers to writers, and how self-published authors now how the tools to out-sell and out-compete the big publishers. Learn why the former stigma of self-publishing has been replaced with growing pride as indie authors scale all the international bestseller lists. Meanwhile, the stigma of traditional publishing is increasing as publisher missteps cause authors to lose faith in big publishers. View the companion video of this presentation at http://www.youtube.com/watch?v=NbT7r-DUa6M

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10 Trends Driving the Future of Authorship (Smashwords tutorial series, #4) Presentation Transcript

  • 1. 10 Trends Driving the Future of Authorship September, 2013 Mark Coker Founder, Smashwords Twitter: @markcoker
  • 2. Notes for the Slideshare edition of this presentation This is the companion deck to a Smashwords video workshop available on YouTube Here are links to each video in this 5-part series: #1 - An Introduction to Ebook Publishing (a primer and e-publishing checklist) http://www.youtube.com/watch?v=khM4czIJUVM #2 - The Secrets to Ebook Publishing Success (best practices secrets for reaching more readers) http://www.youtube.com/watch?v=Jnd7jYcjqm8 #3 - Smashwords Survey Helps Authors Sell More Books (pricing strategy and fun metrics) http://www.youtube.com/watch?v=2rrl4NExo3Y #4 - 10 Trends Driving the Future of Authorship (indie authors are the future of publishing!) http://www.youtube.com/watch?v=NbT7r-DUa6M #5 - How to Reach More Readers at Apple iBooks (merchandising secrets to grow sales!) http://www.youtube.com/watch?v=xKwwcL_FS_c The complete video collection is at http://www.youtube.com/user/smashwords View more Smashwords presentations on Slideshare at http://www.slideshare.net/Smashwords/presentations
  • 3. About this Smashwords video • What you’ll learn • 10 trends driving the future of authorship • How authors can position themselves to benefit from the trends • Why traditionally published authors face increased disadvantage when competing against indie authors • Who this video is for • All authors, both indie, traditional and aspiring
  • 4. My Backstory (Cliff Notes version)
  • 5. Who’s this dude talking?
  • 6. About me • Wrote a novel about soap operas • Rejected by every publisher • Decided publishing industry was broken • Realized author community deserved freedom to publish • Founded Smashwords to try to change the way books are published, marketed and sold • Previously: • Founded BestCalls, an investor web site that published earnings conference call schedules for individual investors • Ran a Silicon Valley PR agency for about 20 years
  • 7. Back to Publishing
  • 8. The Problem: Publishers Controlled Everything • They controlled the … • printing press • distribution • knowledge to professionally publish
  • 9. My solution: Smashwords • FREE eBook Publishing Platform  Free ebook printing press  Distribution to major ebook retailers and libraries  Best practices knowledge to help writers become professional publishers
  • 10. Ebooks published at Smashwords 250,000+ September 2013 250,000 191,000 200,000 150,000 100,000 50,000 92,000 28,800 140 6,000 0 2008 2009 2010 2011 2012 2013
  • 11. Enough about me. Let’s talk about your future as an author
  • 12. WE LIVE IN UNCERTAIN TIMES
  • 13. CHANGE BRINGS BOTH THREAT AND OPPORTUNITY TO AUTHORS AND PUBLISHERS
  • 14. YOUR REACTION DETERMINES YOUR OUTCOME
  • 15. Let’s examine the forces of change, and what these changes mean for your future
  • 16. 10 TRENDS THAT WILL TRANSFORM THE FUTURE OF PUBLISHING
  • 17. TREND ONE: The Rise of Ebooks
  • 18. Screens are the new paper
  • 19. A blast from the past: US ebook market share in 2008 1.2 1 0.8 0.6 0.4 0.2 0 2002 2003 2004 2005 2006 2007 2008 Source: Association of American Publishers, publishers.org.
  • 20. Ebooks as a percentage of US wholesale trade market 30 25 20 15 10 5 0 2002 2004 2006 2008 2010 2012 Source: Association of American Publishers, publishers.org. 2012 Smashwords estimate
  • 21. Ebooks to overtake print Print books Ebooks Print books Ebooks Dollars Units
  • 22. Why ebooks are hot • Screens offer better reading experience than paper • Changeable font size • A B C D Ebooks offer better consumption experience • Lower cost than print • Convenient sampling and purchasing • Huge selection
  • 23. TREND TWO Bookselling moving to the Web
  • 24. US Percentage of book purchases made online vs B&M, Print and E- Web Brick & Mortar Today?
  • 25. Bookselling moves to the Web • Brick and mortar stores disappearing • Decline of print • Consumer drivers: • Price • Convenience • Selection • Implications for publishers…
  • 26. TREND THREE Democratization of Publishing
  • 27. Publishers Once Controlled Publishing • Publishers controlled the… • Printing press • Access to retail distribution • The knowledge necessary for professional publishing
  • 28. Today, authors have free tools to e-publish • FREE ebook printing press • Ebook distribution available to all • The knowledge of professional best practices is free and available to all
  • 29. Publishers losing their monopoly • Writers no longer need publishers to publish, distribute and sell • Writers asking two dangerous questions: 1. Do I need a publisher? 2. Will a publisher harm my ability to reach readers?
  • 30. TREND FOUR Self Published Ebook Authors Gaining Competitive Advantage over Traditionally Published Authors
  • 31. Benefits of Indie Authorship • Indie ebook author advantages • faster time to market • greater creative control • lower expenses • better distribution to global market • immortal ebooks never go out of print • lower prices to consumers • earn more per book
  • 32. QUADRUPLE +
  • 33. Indie Ebook Authors Earn Higher Percentage of List Price Indie Traditional 60-80% 12-17% • Indies earn more at lower prices • At $2.99, indies earn ~$2.00. Trad. author would have to price at $10-$15.00 • Lower price = reach more readers = more sales at higher profits per sale • Higher price = reach fewer readers
  • 34. TREND FIVE Traditionally published authors suffering from high prices
  • 35. Book buyers are price sensitive
  • 36. Authors Yield Two Benefits from Every Sale 1. Money from the sale • Unit sales X royalty per unit = profit 1. Gain a reader • Readers lead to more readers  Pricing strategy essential to maximize both
  • 37. How Price Impacts Units Sold
  • 38. What Price Yields the Greatest Author Earnings?
  • 39. TREND SIX Print is Dead for Most SelfPublished Authors (and will become less and less important to traditionally published authors)
  • 40. Print is Dead for Most Indie Authors • Most self-pubbed authors don’t have access to brick and mortar distribution • Brick and mortar bookstores disappearing • Customers choosing low cost ebooks over high-priced print books • Exceptions: • Face to face print sales will continue • Some books are meant for print (for now) • Specialty souvenir books sold in non-traditional outlets
  • 41. TREND SEVEN Ebooks are going global
  • 42. The Global Ebook Opportunity • Countries outside the US are entering the exponential growth phase of their ebook markets • Ebook retailers going global • • Apple iBooks (51 countries), Amazon (~13), Kobo (14+), B&N (US, U.K.+) ~45% of Smashwords/iBooks sales global
  • 43. TREND EIGHT Big NY Publishers getting into self publishing
  • 44. In July 2012, the parent company of Penguin acquired Author Solutions Author Solutions earns over 2/3 of its income selling over-priced services to authors $25,000 publishing packages! Blood sucking parasites
  • 45. TREND NINE The Previous Stigma of SelfPublishing is Disappearing
  • 46. Stigmas to reverse Aspire Traditional Aspire Indie Aspire Indie 5 yrs ago Today? Future? Aspire Traditional
  • 47. TREND TEN Indie Authors Are Beginning to Outsell Traditionally Published Authors
  • 48. Indies are Now Out-Publishing Big Publishers • Self-published ebooks scaling all the bestseller lists • Every week, indie ebooks in retailer bestseller lists of every retailer • Multiple Smashwords authors have hit New York Times bestseller list in the last year • Prediction: Within three years, most bestselling ebooks will be selfpublished ebooks
  • 49. The Plan Forward
  • 50. The 10 Trends Create a Future that Benefits Self-Published Authors & Disadvantages Traditionally Published Authors
  • 51. The Plan Forward for Writers • You’re in charge now • You decide when you graduate from writer to published author • Honor your readers • You have the opportunity to publish… • Faster • Smarter • More profitably • at lower prices
  • 52. Thanks for considering the future.
  • 53. Free Ebook Publishing Resources • Secrets to Ebook Publishing Success (best practices of successful authors) • Smashwords Book Marketing Guide (how to market any book) • Smashwords Style Guide (how to format an ebook)
  • 54. Publish and Distribute with Smashwords • Learn to publish like a pro  Join Smashwords – www.smashwords.com  Learn the best practices of professional indie e-publishing  Download and read my guides (all FREE!)   Smashwords Book Marketing Guide   Smashwords Style Guide Secrets to Ebook Publishing Success Watch the Smashwords videos on Youtube  Upload to Smashwords  Stay connected with your fans  Get to work on your next book!
  • 55. Thank you for considering the future! Q&A Connect with Mark Coker and Smashwords: Web: www.smashwords.com Blog: blog.smashwords.com LinkedIn: linkedin.com/in/markcoker Facebook: facebook.com/markcoker HuffPo: huffingtonpost.com/mark-coker Twitter: @markcoker