PREDICTIONS FOR THE FUTURE OF “BOOK PUBLISHING SERVICES”
There have been several bold predictions of the book publishing services – and of course, the industry is still evolving at a rate unprecedented. The rate of change means that the future remains highly uncertain, but then, like cyberpunk writer William Gibson commented, ‘The future is already here, it’s just not evenly distributed.’. His point is well made.
The shift that will determine the future is here. Making predictions about that future comes down to a judgement about how those trends will play in Book Publishing Services for Fiction and Non-fiction.
A set of predictions follow, and to each one is assigned a probable rating of how likely it is to happen. Trade publishing deals with Fiction and non-fiction Services for the general reader.
The future of non-fiction books is bright, but it looks very different from the past.
Though still successful in many ways, the model of traditional publishing is no longer the dominant model. Publishing has changed in significant ways over the past decade, and those changes will only continue as the years go on.
Therefore, when people question the future of publishing, the answer always starts:
There is no such thing as a single future of publishing.
Future of non-fiction books:
Every year, traditional publishers release fewer and fewer non-fiction books. That’s because, on the whole, non-fiction is not very profitable in terms of book sales. Meanwhile, the total number of non-fiction books published is going way up because more Authors are self-publishing. The future of non-fiction books is bright, but it looks very different from the past.
Let us see how the publishing world has changed in the last ten years and understand what this means for non-fiction Authors.
As the Book Publishing Industry Segregates:
There are some interesting and noteworthy trends taking place across the publishing industry. Technology has spurred critical shifts that are recreating the business and the art of the literary industry. For Book Publishers, these trends also offer a peek into the future. The change throws some awareness of what to expect, how to prepare for growth in a shifting landscape, and how it can evolve and stay the same.
*Independent bookstores are on the rise.
One among the most exciting trends in the recovery of independent bookstores across the U.S. After many mom-and-pop bookstores went dead in the 90s; the data now tells a much different story. As we look to 2021, these large retailers are clinging onto life and smaller, independent bookstores that are undergoing a renaissance.
For one, it may indicate a more profound relationship that many readers have with eBooks. While the market may lean towards convenience and cheaper prices (offered by outlets like Amazon or got through eBooks), a significant segment of readers is still interested in the experience of buying and sharing new work.
*EBooks fall in popularity.
In recent years, eBooks’ explosive growth seems to be flattening out, signalling that digital formats have plateaued in popularity. As with most technology trends, eBook Services has likely conformed to a wave pattern, rapid growth in popularity, a rising peak, and a decline to an eventual stasis much lower than the highest point. We have hit the peak of the eBook’s wave. While eBook Publishing is likely to remain a steady revenue stream, publishers should approach this technology with reasonable expectations.
*Audiobooks are self-assured to overtake eBooks.
Like eBooks, audiobooks have greatly influenced the Publishing Industry in the last decade. It is no surprise that we are using those devices to consume a variety of media through audio. Looking at similar eBook publishing trends, we can conclude that audiobooks are likely to hit a natural ceiling soon. While they may still grow, only a specific segment of book lovers will likely take up audiobooks as a long-term alternative to hard copies. The new fact for publishers will be a fragmentation of the market and sales.
eBook Publishers are under financial and operational pressure to maintain multiple revenue streams and manage their titles across an array of channels and formats.
Technology will eventually emerge to help Publishing and Typesetting Services industry manage their broadening sales and marketing operations, measure, and track essential segments, and optimize their overall portfolio to maximize revenue.
*Nonfiction titles blow past fiction.
As short stories and novels have seen dwindled popularity, one other category has gained steamway more than making up for the decline in fiction book sales.
Interestingly, few publishers seem assured to benefit digital content marketing strategies to drum up interest and sales for the book. Embracing this tact would mean reconfiguring the traditional publishing workflow and rethinking the business model fundamentally.
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