I very much enjoyed seeing in today’s NY Times that the Daily Beast is forming a new imprint (in a joint venture with Perseus Books Group), Beast Books, that will publish books (first in e form, then in paperback) by Daily Beast writers (who are mostly freelancers). The idea is to condense the period of time it takes to get a book from the author into the world (with traditional publisher, the process can be up to two years; Beast Books is going for a few months). Best of all is that “writers will receive low five-figure advances from Perseus, then split profits from the sale of both the e-books and paperbacks with Perseus and The Daily Beast.” While neither group would specify what the amount would be, it will be more than the typical 15 percent an author usually receives in royalties — and to me, lower royalties and a bigger share of the profits is a step in the right direction.
Speaking of changes in publishing, I really liked this blog post from literary agent Nathan Bransford about whether authors of the future will even need publishers — an insightful look at the challenges in the industry as we e-books become more and more popular. And speaking of, check out this story about the two latest devices. Booksquare also posted a blog that takes a good look at digital publishing.