The Rise of 'Hybrid Authors'
In 2011, self-publishing is thought to have drained roughly $100 million in revenue from the traditional trade publishing business - a drop in the bucket for the $14 billion business. In 2012, that number is thought to have doubled. With theincreasing success of self-published authors in hitting best-seller lists, the number should continue to go up. Publishers are not only contending with increased competition for readers' attention, they are finding now more than ever that they need to work to attract new authors and retain established ones.