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Lulu.com CEO Bob Young on how authors are becoming less reliant on publishers through self-publishing.
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Our but the best selling self published.
Erotic novel fifty shades -- -- heads up ended the traditional publishing business model.
Now authors are now ditching -- got together and trying to do on their own so is the future of the book industry.
Joining us now -- -- CEO of self publishing company Lulu dot com.
And a place to disintegrate because it started basically online and is now an actual hard copy -- remember -- back in 2008 when I was trying to publish.
Taboo to self published is it still.
No.
The key thing to self published is the publishers themselves admit to turning away nineteen out of twenty books.
But most of those -- get turned away because the market for them isn't big enough.
So if you publish it yourself you can bring your product to market directly.
And that's where it services like Lou -- enable you to do.
But existed at the trends should.
Write a book put it online first self publish it with someone like you and then hope that a big house finds it and I get I get -- cover that does happen.
We we think of ourselves the low -- is the farm system for.
Based culture.
-- is fifty shades of -- actually started on -- right and then went to saint Martin's press -- some.
-- it's a -- get a lot of that but more importantly we we get authors who are very successful one -- wouldn't have no interest in going to traditional pop because -- stay -- -- or publishing self publishing in general I should say.
You keep more money -- south that's dramatically.
So suddenly you only need to sell a few thousand books a year.
And you suddenly make a -- of money.
Where is that a real publisher would expect you to sell 101000 books before they pay you when and -- all the publishing house is reacting to this and they have to change their -- them what they're doing very well -- sued the publishers when the rate down to what what -- do with the help you sell your book so the fifty shades of -- book is now selling more books thanks to the help of their -- publisher.
Says -- random house yet so whether it's of the net effect is the thing is is that it works very well a publisher when you get raked -- -- is simply sales.
Organization.
If you're capable of selling your book to your audience.
You don't need to publish -- you get to keep all of -- -- But if you need help selling your book.
Having a publisher and sharing the profits -- these -- publishers aren't doing so much helping quite frankly so that you may even be better refiner out.
You co founded Red -- and 1993.
Took the company public it is trading over fifty -- right now is that what you gonna do to Lulu dot com -- the whole -- to any successful businesses to find a market that is underserved in our case it's helping.
Authors bring books to the marketplace that the traditional publishers can't help them -- and yet.
That's that's the goal that is adopted turn -- into a very big this not to want -- the.
Would people be reading this much -- heart covers of books are gone the way they don't -- warrant and.
Is even their.
And physical books are still doing very well so -- you can read on your iPad or your Kindle but equally well you can still read on paper paper is still the most popular form of book reader.
There especially for old folks like me back down as CEO of really that come thank you for being -- act thank you could step.
