Self-Publishing vs. Traditional Publishing in 2023
The Difference Between Self-Publishing & Traditional Publishing
Self-publishing and traditional publishing are two approaches to sharing a book or written work with the public. Both have their own pros and cons, so let's explore the key differences between them:
How to Tell If a Book is Traditionally Published: If a publishing company owns the rights and royalties of a book, then the book is traditionally published.
Typically, each publishing house might accept about 1% of works submitted.
This percentage can also be applied to receiving representation from an agent.
When publishing under a publishing house, they will handle the editing process, decide on the cover, design the book’s interior, how to distribute and market the novel, etc.
How to Tell If a Book is Self-Published: If the author owns the rights and royalties, then the book is self-published.
Control: In self-publishing, authors have full control over the entire publishing process, from writing and editing to cover design and marketing. However, this also means there are a lot of up-front costs for the author looking to publish. Traditional publishing involves relinquishing some control to the publishing house, which takes charge of editing, design, distribution, and marketing decisions. The upfront costs of these are put on the publisher rather than the author. While an author receives an advance from the publisher, this is dependent on the success the publishing house believes the book is projected to have, how much upfront costs they put into the book, etc.
Cost: Self-publishing generally requires upfront costs from the author, including professional editing, cover design, formatting, marketing, etc. Traditional publishing covers these costs and may even offer an advance to the author. However, in traditional publishing, the publisher retains a significant portion of the book's earnings. They receive the money coming in, while in self-publishing, the author will receive the royalties coming in.
Publishing Timeline: Self-publishing typically allows for a faster publishing timeline since authors have direct control over the process. Traditional publishing, on the other hand, involves several stages like finding an agent, pitching to publishers, negotiating contracts, and undergoing editing and production, which can be time-consuming.
Royalties and Earnings: Self-published authors usually earn higher royalties per book sale. This is because they retain a larger percentage of the revenue. Self-published authors might also be concerned with making back the money they invested into the book. Traditional publishing typically offers lower royalty rates, but advances and the publisher's marketing efforts may compensate for this in some cases. However, these days, publishers don’t typically invest a lot of money into marketing debut authors.
Marketing and Promotion: Self-published authors need to handle their own marketing efforts, which can be time-consuming and require additional skills. Self-published authors might have to consider hiring a PR team if they want assistance in reaching a wider audience. Traditional publishers have resources and expertise in marketing and promoting books. They have established relationships with media outlets, influencers, and reviewers, which can help in generating buzz.
Distribution and Reach: Self-published authors often rely on online platforms like Amazon or eBook distributors, though they may also explore print-on-demand services or local distribution options. The platform they choose heavily determines their reach and whether their book can get into bookstores, libraries, etc. Traditional publishing provides access to established distribution channels, such as bookstores and libraries, which can enhance visibility and reach.
Credibility and Validation: In earlier years, traditional publishing often carried a certain level of prestige and validation. Being selected by a publishing house implies that professionals in the industry have recognized the work's quality. However, in recent years, self-publishing has become more validating in the lengths an author goes to in order to share their book with the world. Quality in authors investing in professional editing, book covers, marketing, etc. go into viewing that author in a higher light, which has been achieved by many self-published authors in recent years. Self-published authors are climbing the ladder when it comes to establishing credibility.
Ultimately, the choice between self-publishing and traditional publishing depends on an author's goals, preferences, and circumstances. Some authors prefer the creative control and faster timelines of self-publishing, while others value the support and distribution offered by traditional publishing. Authors should carefully consider their options before making a decision about their route to publishing, being sure to stay true to themselves and what they want from the publishing experience.
Earley Editing, LLC pros and cons list for traditional vs. self-publishing
Traditional Publishing
Publishing a work is hard (especially for fiction writers). Query letters and putting one’s work out to literary agents are needed. However, even if an author catches the eye of an agent, there is NOT a guarantee the work will go to a publishing house. Rejections still happen during this phase of publishing.
If an author manages to sign with a publishing house, it takes roughly two years to get the book onto shelves in bookstores, libraries, etc. and only around 8% of royalties go directly to the author. This timeline factors in the editing process, book cover design, a marketing plan, etc. Again, a publishing house is putting in the upfront costs and they will have control on the publication process.
Self-Publishing
While self-publishing authors have full creative control over their “book baby,” they are required to invest their own money to publish, distribute, edit, produce, and market for any promotional merch (bookmarks, mugs, stickers, etc.). The success of the novel is dependent on the author. That is one person compared to a team that a publishing house would have. However, self-publishing can pay off in the end if the work to publishing the work is done well. These days, anyone can self-publish, but not everyone can put the necessary investments, whether that is time, upfront costs, or knowledge. Self-published authors are sharing more and more information to help others with this process, though. Self-published authors gatekeep far less than those involved in traditional publishing.
Who Should Traditionally Publish?
First off, it’s very hard to get an offer to publish through traditional publishers and some will have an easier time getting this kind of offer than others. Such individuals include:
Celebrities
Athletes
Actors
Politicians
Professional Writers with a long history of high sales (think Sarah J. Maas or Dan Brown)
People with connections in the publishing industry
Who Should Self-Publish?
Self-publishing is much more accessible to people, so just about anyone else will take this route.
Anyone has the power to self-publish (YOU have control of this fate)
First-time authors
Business owners
Consultants
Entrepreneurs
Coaches
Those in the publishing industry
Anyone else who wants to write a book
Conclusion:
Again, authors should carefully weigh the pros and cons before making a decision about their route to publishing and stay true to themselves and what they want from the publishing experience.
However, for 97% of authors, the answer is self-publishing.
If an author is to take this route, they need to do all the necessary research and save in order to publish a quality book/product. Self-published authors need to think about their book and themselves as a business, hence why so many entrepreneurs and business-types choose this publishing route. Thinking of your book as your baby and treating it like a business will get you far in the self-publishing world.
