Traditional Publishers are in Trouble

From J.A. Konrath’s Blog:

(Note- Legacy means “traditional publishers” aka Established Publishing Companies.)

Right now I’m looking at the Top 10 Kindle bestsellers in occult fiction.

Every one of them is self-pubbed. In fact, there are only three legacy authors in the Top 30. I count only ten legacy pubbed in the Top 100, and most are brand names.

That’s… staggering.

It also doesn’t bode well for legacy publishers.

Long ago, I said ebooks aren’t a competition. But that only applies when they are affordable. Once an ebook costs over five bucks, readers become choosy. The above list is proof. There are ten ebooks on that list priced more than $4.99.

Bet you can guess which ones. Hint: none of the self-pubbed.

A good read, worth checking out-
via A Newbie’s Guide to Publishing: Self-Pubbed Author Beware.