... a healthy book industry is a diverse one, in which it’s possible for a talented author to knock on several doors before resorting to self-publishing. The more gatekeepers, the better the odds ...
Too bad the book industry is going in the opposite direction, as the editorial points out. Penguin and Random House have since merged and are now 25% of the entire global market for publishing.
It's tempting to suggest these big outfits will create sub-imprints that target specific markets, in essence recapitulating the way the big labels acquired indies and let them run their own A&R, simply handling the distribution. But I suspect it'll be more akin to the way George Lucas's predictions about the multiplex went terribly wrong. Instead of having art films and blockbusters cheek-by-jowl in the same building, we ended up with back-to-back showings of the same lousy movies -- except in 2D, 3D, and glorious IMAX.
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Other Lives Of The Mind