One question I am often asked by authors is whether they should self-publish or seek a traditional trade publishing deal. In essence, show me the right path. Unfortunately, just as Oscar Wilde’s truth is ‘rarely pure and never simple’, questions in publishing are rarely straightforward. There are however clear advantages and disadvantages to both options, so let’s begin by considering each of them in detail.
Traditional Publishing
One clear advantage of traditional publishing is cost. If a publisher decides to acquire your book, they finance the entire process. When it comes to the cost of publishing a book, expenses include editing, design, printing and marketing/promotion costs.
These days, publishers often request authors share some of the financial burden. If so, these publishers should correctly be called ‘hybrid publishers’ rather than ‘trade publishers’. Hybrid-publishing, in certain circumstances, is legitimate, although ‘vanity publishers,’ namely companies that charge extortionately for often substandard services, are to be avoided like the plague. (All of this will be covered in a later blog, so follow us on social media or subscribe to our newsletter below.)
Another advantage of traditional publishing is specialised expertise. If your publisher is reputable, then they likely have years of experience with book publishing, and experience is invaluable when it comes to something specialised like book publishing. If self-publishing is right for you, then using a service like JM Agency is highly advised, as that specialised expertise and experience is so invaluable.
Disadvantages
The first disadvantage of traditional publishing is you will be asked to assign rights and/or licenses to the publisher. When an author signs a book contract, he or she does one of two things. They either assign copyright of their book to the publisher, ie. sell their copyright, or grant the publisher a license to publish their book. While there are significant legal differences between both, for the purposes of this blog, both typically entail granting the publisher the final decision on what appears in the book and on the front cover, as well as how the book is sold and promoted.
They also entitle the publisher to a large share in net sales revenue, and not just from the book itself, but also from ‘subsidiary rights’, which includes sales from movie & TV rights, merchandise rights and more. Naturally, how much authors make per book is an important consideration when weighing up the options.
Another disadvantage, for many authors at least, is the long wait. Publishing via a trade publisher can be a long, drawn-out process. The initial submission process can be long, as several in-house departments, including editorial, marketing and legal, must evaluate the manuscript before a final decision is made.
When a decision to offer a contract is made, the publishing contract must be negotiated and signed. Then the author must join a queue. The length of time between the signing of the contract and the date of publication varies, but it typically can take over a year, sometimes longer.
Self-Publishing
If self-publishing, you don’t assign your rights away. You retain all the rights and licenses to your work. Final editorial and design decisions, what goes into the book, what cover image you use, and how the book should be promoted and marketed, remain with you. The flip-side of this is the expenses also remain with you. If self-publishing, the editorial, design and production costs need to be covered.
The cost of producing a self-published book, and how much an author makes per self-published book, varies of course, but budget is a very important consideration if self-publishing. That said, using publishing consultancy services like JM Agency, who have years of experience in editing, designing and promoting independent books, helps enormously.
Which One to Choose?
Which brings us to the question you really want answered, right? Should I self-publish, or seek a traditional publisher? Since I set up JM Agency in 2018, it is a question I get asked a lot, and the easiest way to answer it is is ask yourself what you want to achieve as an author. Some literary goals are more realisable within the self-publishing model, others within the trade publishing model. So when asked, I generally probe into what kind of book the author has written and what his or her aspirations are. Only then do I advise.
Consider the following two examples: You are a historian who has written a book on a specialised area of history, primarily of interest to a specific local region. You have a budget and it is essential that the book is published to coincide with an upcoming centenary. My advice would be to self-publish. On the other hand, if you are a literary novelist, who is ambitious to win literary prizes, have limited savings, and you are prepared to wait for fame and glory, then my advice would be to seek a trade publisher.
Our answer therefore very much depends on the kind of author you are and what kind of book you are writing.
If you would like the discuss the advantages of trade publishing vs self-publishing in more detail, then get in touch. In consultation, we can discuss your book, and your unique aspirations, more specifically. For every book, there is the right path, it is just a matter of identifying it. Initial consultations with Jeremy and the JM Agency team are complimentary. Get in touch via the contact details below and subscribe to our newsletter for more news, updates and insights on all things publishing.