Bowker recently released a new publishing industry report revealing trends in traditional and self-publishing. The report shows that traditional publishers released an estimated 288,355 book titles in 2009, down by 1/2% from 2008. Yet, non-traditional book titles, including print-on-demand and other self-publishing methods, increased a whopping 188% over 2008 with 764,448 new titles released. Yowza!
It is also interesting to note that for the first time ever, over 1,000,000 new book titles were produced in 2009.
What does all of this mean for authors? There is no denying the trend toward self-publishing (or self-publishing assistance by custom publishers). Traditional publishing channels are flat and failed to grow in 2009, which is likely due to the challenged economy.
It is also clear that the competition is increasing. With more than 1million titles per year vying for the attention (and wallets) of readers, it's more important than ever that authors make sure to produce titles that stand out against the competition. If you self-publish, avoid cutting corners! Make sure your book is edited along with a professional cover design and all the elements one would expect from a traditionally published book.
And keep in mind that author marketing is more important than ever. Keep the wheels in motion and remember that it is a marathon, not a race. Marketing should be a daily activity that authors engage in to stay competitive.
What do you think about all of this? I'd love to hear some feedback...
