Cover Story: Amazon: The Elephant in the Room
There’s no way around it: The Seattle-based e-tailer has become the
dominant force of change in book publishing today. Whether that’s good
or bad for the industry is no easy question to answer.
Generally, publishing industry observers grant Amazon the right to publish its own titles, and compete with other publishers for authors. They also note that while it may hurt retailers, publishers and agents, it's good for authors, because another buyer in the market increases competition and compensation for their services. But it may not be a game changer. "I remember 10 years ago, everybody was up in arms when Barnes & Noble decided to publish books," Norris notes. "They had some pretty lofty goals about how much of their revenues they wanted to be from their books." Today, of course, Barnes & Noble talks much less about publishing than it talks about the Nook—and in January, put Sterling, the publisher it bought in 2003, up for sale.
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