Riding to the rescue of publishing comes Penguin Press. They must be thinking that the literary agents aren't doing the gatekeeping job in a fiscally sound manner.
Yes, that Penguin Press, the major publishing house that doesn't accept unagented submissions is starting up a new program that's remarkably like Amazon's CreateSpace, only more expensive. Authors self-publish their manuscripts using Penguin's platform, and are granted access to Penguin's distribution network. Penguin gets their cut, the authors get published, and even more books are released to the reading public.
It sounds like Penguin is admitting that the old system just doesn't work.
All those blockbuster books brought in by literary agents aren't always such blockbusters. Readers aren't responding as anticipated, sales are down, so what to do?
Turn the authors loose and maybe something will come out of the slush. If not, well, there's always that piece for Penguin that drips in from every sale. Why let Amazon get all the income?
Book Country is an online writing group writ large, with authors providing feedback for each other. It is also going to be the business entity that will allow authors to download their fully prepared manuscripts for publication, hard copy or e-book.
Like Amazon's venture, the author is responsible for the whole book, from content to cover and promotion. Unlike Amazon, Penguin's unit will distribute the book to wherever the author can manage to get them stocked.
Of course, when you've paid $99 as compared to Amazon's $0, you'd expect something in return.
Don't think the bean counters at Penguin won't be watching the sales figures in case there's someone out there in Book Country who manages to sell a large quantity.
They know there are authors in existence who can't compose a captivating query letter but can write intriguing prose, and those are the authors who are overlooked by literary agents at the gate.
In a way, Penguin is allowing the community at large to act as readers of the slush pile, a gatekeeping job of old within publishing houses looking for the next F. Scott Fitzgerald. Penguin isn't so sure the literary agents are doing it any longer, and they may be beginning to suspect that their own acquisitions editors aren't doing it anymore.
But beyond that, it's far more cost effective to let the author do all the work without costing Penguin a dime. It's pure profit, no editors or proofreaders needed. If a book sells, Penguin makes good. If a book doesn't sell, it hasn't cost Penguin anything so what difference does it make?
Book Country may be the future home of the mid-list author.
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