Indie Publishing vs. Self Publishing vs. Traditional Publishing
With commissioning editors at mainstream publishers increasingly under the corporate cosh, any literary submissions calculated to sell less than 5000 copies are turned down regardless, which leaves the field open for independent publishers to come in and have a go at the roulette table imagining winners that might come their way.
An experienced commissioning editor may be able to spot high-quality writing and know their target readership, but s/he is no less a gambler than anyone else playing the publishing game. Their gut instinct counts for little in the corporate boardroom nowadays, even though the way in which advances are calculated is an inexact science, and tales of legendary rejections make for juicy water-cooler chat. Harry Potter and the Philosopher’s Stone was rejected 12 times before being picked up; Gone with the Wind got the thumbs down 32 times; Under the Frog 22 times; Dune 20 times; and The Tale of Peter Rabbit was rejected so many times it was self-published.
Smaller publishers generally avoid formulaic writing for the genre market, provide greater personalised support, and – as opposed to a vanity press – do not ask the author for money. Added to which crowdfunding has become a more than viable option, not only to raise funds, but to develop a community of readers ahead of publication (Peirene Now! No. 3, Shatila Stories was recently successfully funded with 327 backers pledging £13,350 via Kickstarter). Best not confuse authors self-publishing their own books only – generally via a digital platform such as Amazon or Kobo – with indie publishers; the term indie authors would be more accurate.
According to a recent report in The Guardian, “Independent publishers have unleashed a boom in sales,” and “turnover across the Arts Council England-funded portfolio surged above its budget by almost £100,000 this year, reaching £277,930.”