Publishing Options

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The suite of publishing options for authors and organizations hoping to have a financially and critically successful book have been fairly static for many decades but recent changes to the publishing industry have expanded certain options, making them now viable. The publishing routes that are available: self-publishing, traditional advance/royalty, cooperative, and custom.

All four routes have advantages and disadvantages, so it must be determined which route best fits each different project. Not everyone has the means, ability, or wherewithal for certain options. Here are the publishing options and arguments for and against each.

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Self-Publishing

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Whereby the Author/Organization writes, edits, designs, packages, produces, markets, promotes, distributes and sells the title, usually through a digital printing mill such as iUniverse or CreateSpace.

Pros:

1. Author/Organization has total control of the project
2. No revenue sharing (keep all profits)
3. Work within your own timeline

Cons:

1. Industry/customer bias against the project
2. No established distribution or sales channels
3. Production more expensive
4. No institutional infrastructure in place. Creating or hiring infrastructure or scaling up based on success is cost prohibitive
5. Promotional opportunities are strictly limited
6. Marketing channels closed
7. Subsidiary Rights are non-viable

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Traditional Publishing

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Whereby a Publisher is approached to handle the entire packaging of the book and retains control of all marketing but with little contractual obligation for said marketing.

Pros:

1. No initial financial investment or risk for Author/Organization
2. National distribution and marketing
3. Promotional opportunities
4. Prestige factor of “name” Publisher
5. Quality production
6. Publisher infrastructure ensures scalability and professionalism

Cons:

1. Surrender of all design, marketing, promotion, and production – essentially the entire brand – to Publisher – without control or approval by Author/Organization
2. The in-house politics and corporate dysfunctions that affect sales and promotions are unknowns
3. The enthusiasm conflict: crucial personnel are often placed on a project without being consulted on acquisition, thus they are sometimes unenthusiastic about the work and not invested in its success. This leaves the possibility of the project being de- prioritized or orphaned when an editor/PR rep leaves the company or is reassigned
4. Royalties are industry standard (7.5% of retail price of paperback; 10% of hardcover)
5. Surrendering control of rights and sharing subsidiary rights income with the Publisher, usually between 50% (paperback license, audio, serial, etc.) and up to 75% (e- books)
6. Timelines are beyond Author/Organization control. (Publication would most likely be scheduled for 24 to 36 months after acquisition or even later)
7. No one at the Publisher is contractually or practically answerable to the Author/Organization outside of fiduciary obligation

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Co-Op Publishing

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Whereby the Author/Organization enters into a contractual partnership with an existing Publisher to financially supplement costs of promotion/marketing via an outside public relations agency, agrees to purchase a predetermined amount of books, and underwrites production/marketing costs.

Pros:

1. Author/Organization retains control over the brand and concept including title, cover design, positioning, and promotional plan approval
2. Author/Organization’s investment in additional marketing increases awareness to sales representatives and distribution
3. Investment costs are shared between Publisher and Author/Organization, leaving significant incentive for Publisher to give best efforts
4. National distribution and marketing
5. Promotional opportunities
6. Prestige factor of “name” Publisher
7. Quality production
8. Publisher infrastructure ensures scalability and professionalism

Cons:

1. Author/Organization must commit one half of the production/marketing costs as well as engaging a project manager with experience with the specific Publisher
2. Limited time/bandwidth investment by Author/Organization required

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Custom Publishing

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Custom publishing is when the Author/Organization forms a virtual publishing house in the aggregate with a governing entity. Every crucial element – Project Manager, Editors, Graphic Designers, Marketing Directors, PR Agents, Tour Bookers, Speakers Bureaus, etc. – are answerable exclusively to the Author/Organization. A traditional Publisher, with all the assets and benefits included, is confidentially engaged to distribute the book for a fee and a reduced share of sales revenue, keeping some sales incentive without the risk of significant capital investment. This form used to be the domain of enterprise-level companies like Disney or the NFL.

Pros:

1. No enthusiasm conflict, as everyone on the project has not only elected to be on the project but competitively bid to be so
2. Author/Organization has control. Author/Organization has the final say, in all production, editorial, promotion, marketing, and logistical decisions regarding their book
3. Author/Organization receives a significantly greater share of revenues, up to 70% of every net dollar earned
4. Subsidiary rights are retained by Author/Organization
5. Production expenses are less costly and more reliable because they are negotiated
6. Promotional opportunities
7. Editorial, sales, marketing, promotion (PR) are all coordinated with the Author/Organization, and everyone is goal-oriented

Cons:

1. Author/Organization must commit total production/marketing costs, which are considerable
2. Without investment by Publisher, financial incentives are minimal
3. Time/bandwidth investment by Author/Organization is considerable

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