Hmmm, this doesn't bode well for the future of literature at all. Unlike music, the DIY route is not a good thing as it only leads to a market flooded with badly written books filled with grammatical and spelling errors. A professional publishing industry is really necessary to maintain standards in writing.
Book publishing crisis: Capitalism kills culture
Publishing teeters as Random House and Penguin plan to merge. It's time for a government policy to protect the arts
BY SCOTT TIMBERGBut the biggest issue is digital technology – e-books, Amazon, Kindles — which has put downward pressure on author advances, which now stand, by some estimates, at about half of what they were just four years ago. The digital revolution has effectively marginalized traditional publishers, as the center of financial gravity shifts from Manhattan to Silicon Valley and Seattle. “Like record labels, publishers have become arms suppliers in the cold war between technology companies,”Robert Levine writes in his 2011 book “Free Ride,” about the Internet’s damage to the culture business.
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