The Hachette/Amazon conflagration is an interesting example of what happens when a oligopoly picks a fight with a monopsony. The oligopoly in this case is Hachette, one of the few massive publishing houses that have absorbed smaller publishers over the past decade and a half. In the wake of that acquisition binge, the publishing world has changed dramatically. Gone are the days where mid list authors were the mainstay of a publisher. Yes, there were bestsellers, but publishing focused on a broad range of offerings.
The new world of publishing is bestseller fixated. The corporate model of global corporations demands consistently high returns. It’s harder than ever to find a published and when you do, it won’t offer much in terms of services. That doesn’t matter if you are a big star since you can spring for your own publicist, editor, etc. But mid list authors and those starting out face an almost insurmountable barrier. Does this model generate bestsellers? Not necessarily. Does it generate better books? Don’t bet on it. Fortunately, there are small and independent publishers and university presses, that offer at least a modicum of what passes for competition.
Continue reading “When Elephants Fight, the Grass is Trampled”
