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According to Time Magazine, Old Publishing and New Publishing Are ...

Time Magazine recognizes that Old Publishing is suffering from severe economic reversals and that new publishing  venues are gaining prominence.  The article does not address, however, how to monetize new publishing:

Not that Old Publishing will disappear–for now, at least, it's certainly the best way for authors to get the money and status they need to survive–but it will live on in a radically altered, symbiotic form as the small, pointy peak of a mighty pyramid. If readers want to pay for the old-school premium package, they can get their literature the old-fashioned way: carefully selected and edited, and presented in a bespoke, art-directed paper package. But below that there will be a vast continuum of other options: quickie print-on-demand editions and electronic editions for digital devices, with a corresponding hierarchy of professional and amateur editorial selectiveness. (Unpaid amateur editors have already hit the world of fan fiction, where they're called beta readers.) The wide bottom of the pyramid will consist of a vast loamy layer of free, unedited, Web-only fiction, rated and ranked YouTube-style by the anonymous reading masses.

Thanks JL Wilson for the linkage.

Jane Litte is the founder of Dear Author, a lawyer, and a lover of pencil skirts. She self publishes NA and contemporaries (and publishes with Berkley and Montlake) and spends her downtime reading romances and writing about them. Her TBR pile is much larger than the one shown in the picture and not as pretty. You can reach Jane by email at jane @ dearauthor dot com

One Comment

  1. vein
    Feb 01, 2009 @ 21:21:41

    As articles go, it demonstrated an apparently very shallow understanding of publishing. For example saying reading is not down based in the internet-inclusive survey results. Whatever is happening to reading per se, book sales are down.

    Also the logical inconsistency of saying old publishing is dying, but measuring self-published books as successful becayse they get picled up by those same “old” publishers.

    All fluff, IMHO.

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