Is Publishing Dead? Wubbit’s Founder Says No
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But to understand exactly how a new business model will benefit the industry, it’s important to first understand exactly where its problems exist. Below Loomer provides a blow-by-blow description of the factors threatening to sink this industry:
PUBLISHING PROBLEM 1:
Authors assume all the risk and reap virtually none of the rewards. The authors, those individuals who drive the publishing industry, suffer even greater losses than the publishing industry itself. Because of the current cost/reward structure, the authors are the last to get paid. And after the distributors and retailers get their cuts, there is little to nothing left over for them.
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