In her end of the year address, Simon & Schuster CEO, Carolyn Reidy had this to say of the book market, “The US bookselling market has been truly lackluster, and year-on-year sales at most of our major customers have declined significantly … the lower sales volume attributed to the soft marketplace was impossible for us to overcome.”
But is the marketplace soft? Have book sales truly declined? Or, as Seth Godin would suggest, has the marketplace, instead of going soft, changed radically?
Self-published author, Keith Knapp, has nearly dominated the Kindle store sales rankings for months. As Knapp points out, it’s not easy to get readers to pick up titles from authors they’ve never heard of. But here is an example of an author adapting to the changing market to find success, in spite of disliking the practice of marketing itself.
As Seth identifies, “Competition and the market are like water. They go where they want.”
I encourage you to take two minutes and enjoy this video, The Future of Publishing.