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Publishing Predictions for the Future
The book publishing industry continues to change. It is important to know what publishing predictions will hold so that consumers and publishers alike can prepare for different possible outcomes or change any potentially bad predictions to become better for those affected.
Big publishers may start to aggressively price their eBooks. Big publishers have shied away from pricing their eBooks competitively compared to indie authors because they are scared that the lower priced eBooks would negatively impact their profitability. On the side of the consumers, it would be unfair to price a digital copy to that of a physical copy so it actually did no favors for the big publishers. This was an opportunity that indie publishers readily exploited. There has been a big spike in terms of revenue for indie publishers because they priced their eBooks competitively against physical copies. Now the big publishers are catching on and they will most likely start to lower their prices, thus leveling the playing field in terms of pricing.
Next on the list of publishing predictions is an increase in eBook unit market share. What this means is that eBook consumption, which is measured in downloads and unit sales, will increase. If major competitors are going to lower their prices to that of the indie eBooks, then this means that there are even cheaper eBooks available to the reading public more than ever. A lot more eBooks are going to be read and unit market share will rise.
As prices of eBooks are more competitive than ever, this means that the competition will increase dramatically. There are tons of eBooks getting published each year. This means that retailer catalogs are going to be filled to the brim with millions of eBook titles. By then, competitors will be looking for new ways to stay ahead of the game. The differentiating factor of price is no longer going to be the main factor so these competitors will be looking for something else to separate them from the rest of the pack. In this regard, though, indie publishers still hold a bit of an edge. As indie publishers, they can bring their product to the market faster, have greater freedom in terms of creativity and can have closer relationships with readers. By doing these things, indie publishers can connect with the reader base better. This gives them a small albeit good advantage over the big publishers.
Last on the list of publishing predictions is that authors with big publishing companies may defect to become indie publishers. Since competition is going to be fierce, the advantages of being an indie publisher may push authors to change sides. Also, big publishers hold royalties over their authors and this can cut into the possible additional income of the authors and they may want to become indie publishers instead because of it.