Two of the best-selling non-fiction authors from the past decade have both indicated they will skip the traditional publishing deals and choose to go with new hybrid publishing entity called Authors Equity for their next books. They have also taken a stake in the company. And it’s founded by the former CEO of Penguin Random House. This is a big deal in the world of book publishing. Traditional publishers are reliant on authors of breakaway hit books … the exact personalities that Authors Equity is likely to steal away.
Interestingly, the business model is exactly the same as the one that our team at Ideapress Publishing and a handful of other reputable and selective hybrid publishers like Bard Press have already been using for years. Consider these five points from the article that mirror exactly what I have been telling authors who consider the hybrid model:
- The “contracts are more straightforward.”
- With fewer titles “the attention to each author will be more concentrated.”
- Authors will “make more money per copy.”
- Books will “get better distribution than via self-publishing.”
- Royalties will be “between 60% and 70% of each book’s profit.”
It is hard to read this as anything but a major validation of the hybrid publishing model and a signal that the future of publishing will likely include far more savvy authors choosing to bet on themselves, go hybrid and keep the lion’s share of their own profits in the process.
