Penguin’s Big Buy

You may have heard the news that Penguin Group has bought Author Solutions—one of the larger self-publishing platforms—for $116m. Not only is that a lot of money to invest in a company, it also speaks quite a bit about how traditional publishers have started to view self-publishing.

 

There’s no doubt that the current eBook market has seen a number of self-publishers find a great deal of success and notoriety. With this investment, it looks like Penguin is betting that self-published authors are a big part of publishing’s future. It is also a step in lending credibility to the self-publishing marketplace and its authors, who were once viewed as writers as who just couldn’t hack it as professional authors. Now, with the potential backing of a Big 6 publisher, that stigma may disappear.

 

It is still unclear how Author Solutions will be integrated into Penguin, though. Will Author Solutions replace Penguin’s Book Country platform? Or, more interestingly, will Penguin open up its own self-publishng arm (like Amazon’s KDP or Barnes and Nobles PubIt!)?

 

What do you think of Penguin’s big buy? Do you think we’re likely to see similar purchases in the future?

One Response to Penguin’s Big Buy

  1. emily says:

    Smart move and clearly there are big bucks in self-marketing-publishing.

    Beyond the obvious, I think the purchase speaks to the revised technology for putting the printed word into reader’s hands.

    Publishing is becoming multi-media – text, pictures, video – and instant reader feedback.

    Yes, I do believe publishing houses will make many similar buys – make many similar market moves.

    It’s a new day all around and while the future is murky, it seems to be moving toward all digital, all the time.

Leave a Reply

Your email address will not be published.

Please type the characters of this captcha image in the input box

Please type the characters of this captcha image in the input box

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>