Big publishing speaks

Jason Pinter, author of The Guilty and formerly an editor at St. Martin's Press (among other places), offered the following thoughts on the subject of vanity press publishing. For background on the discussion, see my post "Big publisher is watching." (This was originally posted on Lee Goldberg's blog. Jason kindly gave permission for me to repost it here.)

Having worked in publishing, with actual editorial experience at three "big publishing" houses, I thought I'd dispel a few myths that have been bandied about here. In my five years in editorial, I acquired both fiction and non-fiction. I've sat in hundreds of editorial meetings, and gotten thousands of submissions from reputable--and disreputable--agents. This is not to toot any sort of horn, but merely to offer proof that I know what I'm talking about. Anyway:

1) Amazon, despite what Yvonne says, is not a distributor. They are a retailer. There is a huge difference. A distributor buys x number of books from a publisher, then "distributes" them among their sales channels. Levy is an example of a distributor. Ingram is a distributor. Distributors have a financial stake in the success of the book. If it does not sell, they lose money.

2) Amazon is not the preferred distributor, or retailer, or anything like that. They are a piece of the puzzle, sure, but as of today only about 3%-5% of that puzzle. Brick and mortar stores, with few exceptions, are the most important part of the puzzle (though big box stores, like Sam's Club and BJ's are growing in importance). It costs Amazon nothing to put up a page for a self-published book, and it certainly doesn't mean they have to order any copies. If a self-published book doesn't sell any copies on Amazon, they lose nothing but the time it took to post the page.

3) There are authors who benefit from self-publishing, but they are extremely rare. They are, with very few exceptions, non-fiction authors who have either a substantial platform or take part in many speaking engagements at which to sell their books. In this case, they benefit from increased royalties. Many NF authors that publish with traditional publishers actually negotiate to buy back a certain amount of copies--at a large discount--in order to both sell at their lectures as well as in B&M stores. Though yes, it is true that sometimes publishers do acquire a book solely because the author commits to a substantial buyback. Yes this is cynical publishing, but publishing is a business, and publishers do what they need to do to stay in business.

4) Big name publishing is only watching if you make them watch. The fact of the matter is, when a self-published novel comes in on submission, it is assumed, often correctly, that the novel could not find a mainstream publisher. Yes, there are self-published novels that are well-written and do eventually land contracts, but again they are exceedingly few and far between. Anyone who thinks self-publishing is the best route to getting a mainstream contract, give me a ring, I have some real estate to sell you...

5) "Big Publishing" generally takes longer to publish books because it takes months to properly sell and promote the book to their accounts. Any publisher, if they wanted to could, put out a book out lickity split. In fact, those books are called "crash books," and they're only done if a book is especially timely and/or publicity driven. But if you print a book in a month just because you can, Barnes & Noble, Borders, Amazon, etc...wouldn't take diddly squat because they'd have no reason to.

6) Publishers do drop the ball. That's the way it works, unfortunately. Good books go unread and don't get the promotion they need or deserve, and bad books become monster bestsellers. Hell, "Fools Gold" was #1 at the box office.

7) There's no doubt publishing is changing, though change is certainly taking its time. The Kindle might be doing well relatively, but ebooks are such a small fraction of book sales (like 1% of 1%) that it's far too early in the device's release for it to have made anywhere near a dent, or even a smudge, on the market.

Just a few thoughts.

Jason Pinter

Comments

[Ali]

Very well put Jason - and thanks David for posting as I didn't notice it in the deluge of comments at Lee's Blog, besides it was downright nasty over there at times - As Dr Lecter says 'I eat the rude..'

BTW Just got a Review copy of THE MARK - due out nect month in the UK -

Best

Ali

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