Publishers Making Room for E-Books

Another example of a publisher conceding the growing import of e-books came from an interview with Penguin Group CEO John Makinson in yesterday’s Wall Street Journal. To his credit Makinson defended bookstores and physical books, but just last Friday Penguin along with Simon & Schuster and Hachette Book Group (Little, Brown & Co., Orbit {sci fi}, Grand Central {formerly Warner} and other imprints) announced the launch of, a website that will compete with Goodreads in trying to create a social media environment for readers to exchange book likes and with Amazon in offering a direct sales channel for their books.

It’s clear that self-publishers selling their e-books for $4.99 and less are causing major upset in publishers’ boardrooms. It’s the kind of pricing that publishers can’t compete with and that is attracting more and more authors because, as the authors interviewed for the Washington Post story that I referred to in my previous post point out, they make MORE money per sale at $4.99 than they do when selling a hardcover book at $24.95!

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