Monday, April 4, 2011
Market News for the Week
First off, what I think is the most interesting news, Amanda Hocking, self-publishing author, switched over to the traditional route. That's right, Amanda Hocking, the 26-year-old who self-published nine Kindle books which sold over one million copies combined, earning her nearly two million dollars, just sold a four book deal to St. Martin's Press. The "Watersong" series, a young adult paranormal romance, sold at two million dollars for world English rights. Hocking stated openly that she has "done as much as she can do" with self-publishing. According to Hocking, promoting her books became a full time job and selling to a traditional publisher will help her focus on her writing. For more information on Hocking's choice, please follow the link to Amanda Hocking Goes Traditional.
In other news, Barnes and Noble's sale period will soon end without the sale of their company. Barnes and Noble approached Lazard Ltd last year to look for a potential buyer of the company. However, after the first round of bids, things are not looking up. According to anonymous sources, buyers gawked at how long it would take Barnes and Noble to catch up in digital sales in order to compete with e-reader companies, like Amazon. For more information, please follow the link to Barnes and Noble With No Buyers
In non-surprising news, ebook sales have reportedly jumped with the start of this year. Personally, I find that to be no surprise, considering sales of everything jumps at the beginning of the year. There's this little holiday called Christmas, which is usually responsible for it all lol. For more info, go to Ebook Sales Jump in 2011
Finally, Google's conquest to create the world's largest digital library and bookstore has received a major reality check: copyright. The judge who rejected Google's proposed deal brought to light interesting issues on Google's ability to control mass amounts of information. For more detail, please go to Judge Rejects Google's Digital Venture
Hope the market news was helpful! Til Wednesday ;-)