Pulitzer Prize-winning playwright and author David Mamet is the latest in a string of established writers who are starting to self-publish, according to this story from The New York Times.
“Basically I am doing this because I am a curmudgeon,” Mamet is quoted as saying. “and because publishing is like Hollywood — nobody ever does the marketing they promise.”
Lack of marketing follow-through is often cited as the biggest reason established authors are switching from traditional publishing to a self-pub model.
The New York Times article says:
For one thing, as traditional publishers have cut back on marketing, this route allows well-known figures like Mr. Mamet to look after their own publicity.
Then there is the money. While self-published authors get no advance, they typically receive 70 percent of sales. A standard contract with a traditional house gives an author an advance, and only pays royalties — the standard is 25 percent of digital sales and 7 to 12 percent of the list price for bound books — after the advance is earned back in sales.
None of this is news to independent authors, but it is interesting to see how even famous writers are now abandoning traditional publishing in favor of self-publishing solutions.
So, the moral of the story is: if you’re handling most of your book marketing yourself — don’t despair; you’re in the same boat as Pulitzer Prize-winners!
Have you switched from traditional to self-publishing? Why did you switch models? How’s it working for you?