Today I am launching another new feature titled, WSJ Wednesdays. My husband calls The Wall Street Journal a grown-up's paper. Our local paper didn't provide the type of news he was looking for, so he turned in some of our credit card rewards for a free 39-week subscription. I didn't think I would read it much, but it often publishes articles on the book publishing industry--and of course it has that huge review section once a week.
I've been pulling out articles that caught my eye. I'll talk about these articles and hopefully you'll chime in with your thoughts too.
In the December 15th edition (Vol. CCLVIII No. 141) the front page had an article by Jeffrey A. Trachtenberg titled, "E-Book Readers Face Sticker Shock." Trachtenberg's article discusses the soaring prices of e-books. He states in some cases, the price of top selling e-books is within a few dollars of or could even be more than the printed versions. The reason according to this article is a decision by the six biggest publishers to set their own "consumer e-book prices," which doesn't allow retailers to discount these books without their permission. Trachtenberg states that some industry executives believe this may be hurting e-book sales, and goes on to say that Lorraine Shanley, a publishing industry consultant says the higher price might encourage consumers to try self-published works.
I found Trachtenberg's article fascinating. As a writer, I have to admit I've considered self-publishing. While stories of writers making a big splash with self-published works that draw the attention of literary agents are few and far between, the appeal in getting a book to market faster and having greater control is encouraging. The higher royalty rates aren't too shabby either. That said, I've hesitated to move in that direction. There is great value in having an agent to represent your interests in a competitive market. I just received my second rejection from a literary agent in the past three months. It's an uphill battle, but I plan to continue.
As a reader, I tend to look at e-book version prices very closely. If I can get a printed copy of a book from a favorite author for a few dollars more, I'll opt for that instead of a Kindle version. The majority of books on my Kindle cost me under $5.
I would love to hear your thoughts on this issue. If an e-book is priced close to a printed version do you buy the printed one instead? How has the lower price point of self-published books impacted your buying decisions? Are you willing to give an unknown author a chance if his book is priced $2.99 or under? How about free e-books? Do you pick up a lot of those?
Thanks for sharing your opinions.
Note: You can find a video on the WSJ site where Trachtenberg discusses this issue by clicking here.
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11 comments:
Interesting...I went to buy Stephen King's On Writing right. I was going to buy the ebook version and read it on my kindle. I went to Amazon and the paperback was cheaper than the ebook version so I went with the paperback. I think in order for these ebooks to sell, you need to price them under what you'd buy a paperback for. I mean it only makes sense, right?
I am dying to get back into the self-publishing arena again with books I haven't submitted to publishers. I went that route a few years ago but this was before the Kindle explosion. I just have to have a taste of it now you know?
BTW, I love your new feature!
Glad you like this new feature, Dot. I don't see much point in paying a higher price for an e-book, especially when there is next to no overhead. I'm not against a company making money, but it seems like they could be hurting their profit margin more than helping it.
E-readers have definitely changed my desire to self-publish too. We'll have to see what happens.
Thanks again for your comments.
Love the look of the blog, and I agree, my Nook price must be less than I can buy the paperback or hardcover. I still enjoy reading a good book in hand While the nook is convenient for travel.
Definitely a thought-provoking post, Cheryl. Now that I have a kindle, I must admit that I enjoy "clicking" and digging right in to a great story. No waiting!
Best wishes for a joyous 2012!
Thanks for your comments Terri and Dora. I definitely enjoy the easy access to books that e-readers have made possible. I didn't care for reading a book on my computer after working on one all day.
If I find a book by a favorite author I will go with paperback if it also makes a good learning book. Case in point. I'm trying to find,
Miles To Go by Richard Paul Evans in paperback because its cheaper than kindle and that would be one of those books j would keep. I ttry to find bargain prices with the kindle.
Thanks for sharing your thoughts, Becky. I feel the same way.
I think they've allowed the pot to simmer long enough and now that consumers have completely adopted e-readers it seems inevitable that the price for content would rise.
Look at gas—the same thing has happened there. We all used to complain, loudly, when fuel rose above $2.50. Now it's above $3 a gallon and we're only too happy to pay it, glad that it's not $3.50 or $4 a gallon. I don't think we will ever see gas below $3 again.
Unless some consumer /market pressure is applied then e-books will likely float right around a very similar price point to the print versions. If that's the case, I'll stick with my old friend, the bound book, and download the occasional e-version from self-published authors (and of course freebies!).
Thanks for sharing your thoughts, Jeff. I used to prefer printed, but for space purposes, I usually request e-books to review now.
I see what you're saying about pricing. It seems to me, though, that unless the economy improves soon, wallets are going to tighten even more and people aren't going to spend that kind of money on electronic books. I may be totally wrong. I guess we'll have to wait and see.
Thanks again for stopping by.
I agree with you. The upside I see is—potentially—people who may not be readily inclined to pick up a book may be slighly more inclined to read simply because content is available on an electronic gadget. Perhaps some bestsellers, or even classics, are being downloaded and read by these folks where they wouldn't be apt to do otherwise.
Great thought provoking post :^)
How interesting that you mention classics because I'm not a big reader of classic books--being forced to read them in high school turned me off entirely--but I find I'm downloading several now because I can read them and get rid of them if I don't like them.
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