Is self-publishing worth it? The shifting landscape of writing

As the world of book writing continues to evolve, the rise of self-publishing has ignited a fiery debate about its role in the industry’s future. From its humble beginnings as a niche endeavour to the digital revolution of the 21st century, self-publishing has undergone a remarkable transformation, with advocates and sceptics battling it out over its merits and potential pitfalls.

The digital revolution and the emergence of self-publishing

The advent of successful e-book readers, such as Amazon’s Kindle, ushered in the digital era of publishing and inadvertently transformed self-publishing into a formidable force. With platforms like Amazon’s Kindle Direct Publishing offering a direct route for authors to publish their works, self-publishing became a viable option for writers eager to share their stories without enduring the traditional publishing gatekeepers.

Read: Amazon issues new AI policy for KDP platform

This shift was further bolstered by the entry of new intermediaries and the strengthening of existing ones, which lowered the barriers for authors to self-publish their works. As a result, a more significant share of the book industry’s surplus began flowing towards authors, resulting in a significant surge in the availability of books.

However, this proliferation of books has given rise to a new set of challenges, including intensified competition and the difficulty for consumers to navigate the sea of available content. The central argument here is that while self-publishing has alleviated the problem of book scarcity, it has simultaneously introduced a new issue – asymmetric information about the quality of books. This is when there is an imbalance in the level of knowledge or access to information between the buyer and the seller in any financial transaction. Hence, the question now looms: will the market evolve to provide appropriate measures to tackle this knowledge gap?

Quality vs. quantity: the perceived downside of self-publishing

One enduring criticism of self-published works has been the perception of lower quality. This notion harks back to the earliest days of the print industry when there existed a stark divide between off-set printing and one-off or vanity printing. Many critics argue that self-published authors, often eager to rush their work to market, overlook fundamental aspects, thereby undermining the potential success of their books. This haste can result in lower sales and readers’ dissatisfaction.

Despite these concerns, data from Bowker seen by Publishers Weekly reveals a thriving self-publishing segment within the industry. The number of self-published titles with ISBNs and BISAC codes reached a staggering 2,298,004 in 2021, although this represented a decline from previous years. Additionally, 2,300,336 new self-published titles had only ISBNs, marking a 15% decrease from 2020. These figures encompass print books, e-books, and audiobooks, underscoring the continued growth of self-publishing across various formats.

Fiction dominates the self-publishing landscape, with juvenile nonfiction and fiction closely following. Business/economics and literary collections round out the top five categories.

The case for and against self-publishing

Prominent figures in the publishing world shared diverse perspectives on self-publishing’s future with us at How To Be Books. Dr. Nick Courtright, CEO at Atmosphere Press, envisions a landscape where talented authors opt for self-publishing due to its speed and control while emphasising the importance of quality. He also highlights the rise of hybrid publishing, where authors retain control while benefiting from professional publishing assistance.

Jock Brocas, author and editor-in-chief of Paranormal Daily News, expresses concern about AI-generated content diluting the soul and heart of authors’ work, reiterating the emotional connection between readers and writers as a crucial aspect of quality literature. He said “what we will miss is the soul and heart of an author that can be picked up by the reader.”

Assistant Professor Douglas Giles of Elmhurst University discusses the advantages of self-publishing for academics, allowing them to reach a broader audience and receive fair compensation for their research. He anticipates that more academics will choose self-publishing in the future. The founder of Insert Philosophy Here added that: “there is still a stigma within academia against self-publishing, but for those who want to reach a broader audience, self-publishing can work for them.”

Read: Amazon halts AI-generated books impersonating author Jane Friedman

Douglas Bell, the author of “Cakewalk,” believes that while self-publishing will continue to grow, the future of publishing lies in the adaptability of the big four publishers. He argues that these publishers will find ways to stay in business, but they will increasingly prioritise less risky projects as margins shrink.

Bell stresses the importance of self-published authors adopting a business mindset, outsourcing services like marketing, PR, accounting, and editing to professionals to ensure success in a competitive market.

He also acknowledges the absence of standards in self-publishing, with books of varying quality and effort, as “Amazon will take all kinds of books.” The challenge for self-published authors lies in defining their own success, promoting their work diligently, and identifying their unique brand and niche. Bell sees the potential for AI to assist self-published authors, but he cautions against replacing real authors with AI-generated content. He highlights that loyal readers value the authenticity of authors’ lived experiences and perspectives, which AI cannot replicate.

The content creator’s perspective: self-publishing as an empowering trend

Morgan Gold, a verified content creator, is set to self-publish a children’s novel titled “Toby Dog of Gold Shaw Farm” on September 18. He told us the reasons behind his decision to take the self-publishing route and highlights the changing dynamics of the industry.

Gold cites the increasing accessibility of self-publishing in 2023, with major platforms like YouTube, Meta, and TikTok introducing shopping tools for creators. These tools allow content creators to sell their self-published works directly through their channels, eliminating the need for traditional marketplaces. This integration enhances opportunities for self-published authors to connect directly with their readers, aligning perfectly with the ethos of self-publishing.

Read: BookTok: please don’t let TikTok publishing lower the bar

Moreover, the rise of subcultures like BookTok, a TikTok subsection dedicated to book reviews and recommendations, underscores the shifting dynamics in literature. It provides a platform for readers to share their favourite books and has become a powerful space for self-published authors to gain exposure.

The business of self-publishing: challenges and opportunities

One key factor behind self-publishing’s growth is its potential for profitability. Self-published authors represent a significant portion of e-book sales on platforms like Amazon’s Kindle Store, offering higher royalties than traditional publishing. This financial incentive encourages content creators to explore self-publishing and leverage their existing audience for higher sales.

Crucially, self-publishing provides authors with greater control over marketing strategies, enabling them to tailor their approach to their specific audience. This control can be a boon for those who intimately understand their followers’ preferences and behaviours, ultimately increasing the chances of a book’s success.

Looking ahead: the future of publishing

The debate over the future of publishing continues to rage on, with self-publishing undeniably playing a pivotal role. Whether the traditional publishing giants will adapt and coexist with self-publishing or be overtaken by it remains uncertain. The industry is witnessing a shift toward greater openness to diverse voices and perspectives, opening doors for content creators who may have once been marginalised.

As the publishing landscape evolves, so too do the opportunities and challenges faced by authors and content creators. While self-publishing is not without its pitfalls, it has become an integral part of the modern publishing ecosystem. Its future appears promising, driven by technological advancements and an increasingly content-hungry audience. Nevertheless, there’s a crucial point to consider. Similar to the growing prevalence of AI in our discourse and writing, we must also make sure that it doesn’t lead to a deterioration in quality. However, in this ever-shifting landscape, the only certainty is change itself.