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The literary industry

Highlights

  • Making a living with writing is hard
    • Low return on sales
    • Promotion is centralized and expensive
      • To earn money, writers need a brand/audience
      • To build a brand/audience they need to promote their work
    • Written pieces are pirated despite immense efforts to keep them behind a paywall

Current landscape

Currently, the industry is controlled by a small group of publishers, which makes it difficult for new and unrecognized writers to break in.
As of now, the literary industry offers two avenues for publishing written work: traditional publishing houses, and online self-publishing platforms. In this landscape, authors without a brand and/or audience struggle to make a living from their writing.
On one hand, traditional publishing houses can help authors build a brand. But for unknown authors, these centres have incredibly high barriers to entry. And the few authors that make it, see the majority of their profits taken by publishers.
On the other hand, self-publishing platforms do have low barriers to entry. Yet, the nature of such low barriers has shaped a highly competitive marketplace, where the fight for attention has become a real problem for the unknown author, who just wants to write - not to become a marketing agency. As such, to make a living from writing authors who choose the self-publishing route must pay large amounts of money to gatekeepers to promote their work. And even after building a solid brand and base of readers, self-publishing platforms still take a large percentage of the revenue earned by authors (up to 60%).
Authors need an alternative. One that recognizes the cultural value of their work, that fairly distributes the profits from their writings, and that allows them to build a brand and find an audience with ease. That alternative is Soltype.