Best-Selling Author Refuses $500k; Self-Publishes Instead

Last week we discussed an IT book author's adventures in trying to self-publish. Now, an anonymous reader points out an article examining another perspective: "Barry Eisler, a NY Times best-selling author of various thriller novels, has just turned down a $500,000 book contract in order to self-publish his latest work. In a conversation with self-publishing aficionado Joe Konrath, Eisler talks about why this makes sense and how the publishing industry is responding in all the wrong ways to the rise of ebooks. He also explains the math by which it makes a lot more sense to retain 70% of your earnings on ebooks priced cheaply, rather than 14.9% on expensive books put out by publishers."

Comments

big diff: editors are actually important

[decora]

editors, working for publishers, are behind a lot of the great literary works of the united states.

philip k dick's "a scanner darkly" comes to mind. there are many others.

publishers also deal with libel and defamation lawsuits for you.

they also set up junkets so you can market your book.

im not saying theres no point to self publish, but there are many differences between music industry and book industry.

Re:big diff: editors are actually important

[MoonBuggy]

Absolutely, and for someone new to writing and/or short of capital, the only reasonable way to afford editing, marketing, and so forth is to go with a publisher; thing is, the author is then beholden to the publisher - it's a very old fashioned, paternalistic relationship. Not to mention the fact (brought in to evidence here) that they take a bloody substantial cut of the sales.

If the author has some cash behind them already, and an established 'brand', then paying for an editor and a PR firm up front may well be far easier, more pleasant, and more profitable in the long run, than signing their creation away to someone else. The publisher is just a middle man, working between the retailers, the editors, the printers & distributors, and the author - not to say that a middle man with knowledge and experience doesn't provide value, but they need to learn that they are employed by the author to provide a service, and not a patron to which the author is beholden. Of course, the fact that publishers traditionally act as initial 'investors' in the process muddies the waters a bit, but as I said, that only applies in the case that the author needs that investment, and even if that is so, there's no reason it needs to come from the publisher, nor are the upfront expenses quite so onerous now that the need to predict the market, print, and ship large amounts of physical inventory is diminishing.

Re:big diff: editors are actually important

[larry bagina]

slashdot has a problem hiring decent ones.

Re:big diff: editors are actually important

[Nursie]

Lies Incorporated springs to mind. Another PKD novel.

First few chapters are relatively sane. As are the last few chapters. In the middle is pure PKD weirdness, only even more directionless and bizarre than usual (IMHO). Then I noticed that the weirdness and the last few sane chapters start with the same paragraph.

So then I finally read the introduction, that says the book was originally published after a brutal pruning by the editor. Later, when PKD got a bit more famous, he managed to get the middle stuffed back in for future print runs.

The editor was definitely right that time.

Re:big diff: editors are actually important

[GrpA]

Because editors cost money, even when you're friends with a few. ( And I'd never ask a friend to edit my work for free as anything other than a mutual crit. )

I self-published an E-book. Admittedly, it could be better edited and I really wish I had the cash to do it. However because I couldn't afford an external editor, I went through 10 editing passes myself ( it's not easy spotting your own mistakes ) and through more than a dozen critics who tore every sentence to pieces.

The result? It's presently ranking 4.5 stars on Barnes and Noble and has a sales ranking up with the professional. The biggest criticism I get ? Making it free ( Voluntary shareware actually ).

So while I'd still say a GOOD editor is a valuable thing in the publishing process, I'd also say that you don't need to have a paid editor to do everything you need to make a great story.

Anyway, you're welcome to judge it for yourself if you like - And feel free to criticize me. I always welcome genuine criticism.

Title: Turing Evolved ( Science Fiction ) - Currently distributed for free.
Smashwords Link: http://www.smashwords.com/books/view/34627

GrpA

Publisher's attitude is for you to bend over.....

[blanchae]

Back in 2000, I contacted several publishers about publishing my 500 page book "Introduction to Data Communications", pretty much all declined stating that it was not specific enough. I wrote it specifically because at the time there wasn't an introductary level book. One major publisher had the following conditions that I would have to do in order for them to publish it:

1. Add another 200 pages
2. Create an online website
3. Create an online test bank
4. They would forward $5,000 of my expected earnings in order to perform the years worth of work.
5. Hand over complete copyright to them
6. If they decided that any changes were required, I would have to pay for the changes regardless if I agreed with them or not.

I told the VP what I thought in the most appropriate terms and stated that I would give the book away rather than have anything to do their company. So since 2000, the book Introduction to Data Communications has been free online to anyone who wishes to use it. I used to make pocket change from the Google adds and for the last couple of years, instead of Google adds, I advertise the programs that I teach for at the post-secondary institute.

Was wondering when this would happen

[argStyopa]

I should have figured it'd be a tech-savvy writer.

When I realized that Neil Gaiman was getting perhaps $2 out of that $20 new book, I thought, 'hell, I wish I could just buy any book he writes directly from him - I'd pay him $6, he gets triple times as much and I get it for 1/3 price'.

Kudos to him, I hope he's successful against the publisher blacklisting he's going to suffer....

Re:Publisher's attitude is for you to bend over...

[SpottedKuh]

You, sir, have the finest licensing agreement that I have ever seen in the introduction of your book. I was genuinely moved.

Re:Never heard of him.

[hawguy]

But I'll tell you why I am not inclined towards E-books. I like to read in the tub.

But e-book readers are even better than paper books for reading in the tub.

I found that my kindle fits perfectly into a quart sized freezer baggy (which are a bit thicker than sandwich baggies), and I can still operate all of the controls. Perfect for reading in the tub, and unlike a paper book, there's no worries about the book getting soggy if you dip it into the water - you can dunk the entire baggy protected Kindle into the water and pick it up and continue reading.

The baggy also works well when you want to take it to the beach and protect it from sand... or when you're eating doritos and don't want it to get all cheesy.

And since I already had these baggies in the kitchen, total cost for this protection was a few cents.

Re:Publisher's attitude is for you to bend over...

[blanchae]

Readings free, copying it - I take your soul...

ebook pricing too high

[Deb-fanboy]

Barry: This is a critical point. There’s a huge data set proving that digital books are a price-sensitive market, and that maximum revenues are achieved at a price point between $.99 and $4.99. So the question is: why aren’t publishers pricing digital books to maximize digital profits? Joe: Because they're protecting their paper sales. Barry: Exactly. Joe: It's awfully dangerous for an industry to ignore (or even blatantly antagonize) their customers in order to protect self-interest.

This is one thing that puts me off buying ebooks. At the moment they are overpriced.

Another problem is that they come with DRM, and running a free operating system I cannot read them and have to resort to other methods to obtain a free copy. I would much rather purchase a reasonably priced ebook with no DRM so that some money goes to the author.

We are left with the same untenable situation with ebooks as there was with the music industry, that is that you get a better ebook for free which is flexible and can be read on any ereader than you get by purchasing for £12 from an official ebook retailer.