Nine myths about publishing books, films and magazines
Publishing is changing fast, and so are its rules. This is fantastic opportunity for anyone willing to take it, and a problem for traditional publishing houses (unless they’re willing to adapt, and quickly).
At the same time, the danger is to walk into this new world carrying the baggage of the old. We’ve seen it happen a lot in video. Whether you’re publishing ebooks, digital magazines, podcasts, a blog or video, here are some “rules” which apply to traditional/mainstream publishers, but not to you.
.01 you need to publish to a regular schedule
Traditional magazines publish weekly or monthly and it’s easy to fall straight into that mindset if you’re publishing digitally. But remember magazine schedules are based on the cost and systems of printing paper. Publishing digital products, like ebooks, magazines and apps online you are free from those constraints.
Think for example of California Is A Place: it’s a video web series, but new episodes appear only when they’re good and ready. That hasn’t stopped each video racking up tens of thousands of views.
.02 you must make advertising revenue
Again it’s easy to jump to the conclusion that the only way to make your journalism pay is to stick adverts all over it. GQ and Grazia might be 60% advertisement but your digital publication doesn’t need to be.
How come? Well, firstly your overheads are lower so you don’t need big contracts to keep going. Secondly, the web opens up a whole host of other revenue streams from subscription, to events and other products.
Here’s the thing about advertising: in an ideal world, does your audience want to consume adverts? No. So do a good thing and spare them the pain.
NOTE: by coincidence, the New York Times has just revealed it is starting to rely less on advertising, in the face of big slumps in revenue.
.03 you need to publish a certain quantity every month
Isn’t it funny how a newspaper is always the same size no matter how much news there’s been that day? How the evening news is always 30 minutes long no matter what? Again, these are constraints created by those specific platforms.
And yes, publishing online frees you from this too. So, if you’re publishing a digital magazine don’t feel you need to fluff it out with more pages just to fit a quota. And don’t feel your ebook must be at least 100 pages to make it valuable. If you’ve got 20 pages of fried gold your readers will appreciate the quick read.
Incidentally, I read somewhere once that physical books often need to have a certain number of pages in them, so their spine is thick enough to get noticed on a bookshelf!
.04 you need to publish forever
Again the overheads associated with magazine production make it necessary to aim to publish indefinitely. While it’s impressive to build a formidable brand over many decades of publishing, it doesn’t have to be so.
The Domino Project was a publishing business that ran for a year with great success and published 12 titles before Seth Godin decided to wrap it up. “Projects are fun to start,” he said “but part of the deal is that they don’t last forever.”
If that feels a bit futile, don’t forget you can start a company that runs short projects, each one temporary but contributing to a larger brand.
.05 people won’t pay for digital products
This is being proven wrong all over the shop. While a couple of years ago it seemed consumers were hesitant, ebooks now generate $2billion of revenue a year; meanwhile iTunes and Spotify are the biggest forms of income for record labels.
Furthermore, it’s not the cheapness of digital projects that appeals. Don’t get fooled into pricing your next book at 79p. Instead try charging £5 – and making it worth all five pounds.
.06 you need to reach a large audience
The mainstream media and mass communication is about just that: the masses. Traditional books, movies, magazines and TV shows are judged solely on numbers and can’t survive unless they have big audiences.
It’s a relief to see the debate around online publishing moving away from its obsession with hits. The internet is designed for niches: slim, deep verticals where people are small in number but big in passion and engagement.
You only need 2,000 passionate readers willing to pay $100 a year to subscribe to your work and you’re making a tidy $200,000.
.07 you need to control your content
Audiences are grateful for your act of generosity, and your idea and brand are spread far and wide. So don’t try and own your content so hard; make it easy to share, let other people remix, transform and copy it, let it spread far and wide.
Acts of generosity always come back to you in the future.
.08 you need to be short, snappy and controversial to get attention
While “50 pictures of cats wearing sweaters” and their ilk may be around forever, the debate about journalism and content is finally appreciating deep, high quality – if less regular – journalism. I’ve written about Matter before, it’s the science magazine launching in September, aiming to publish one long-form article a month.
They’ll be specially commissioned in-depth pieces, with their own bespoke illustrations. This is clever because rather than trying to get lots of eyeballs and attention, they’re setting a standard for quality: something worth paying for.
.09 you have to have a consistent price
We slip into this mindset of commerce without even thinking about it: when one charges for a product, one must choose a single price.
Says who? Here’s two ways you can mess with that idea: firstly, scaled pricing where you offer a bronze version, a silver price and a platinum edition. Each layer gives you more stuff. Kickstarter has proven how well people respond to tiered pricing levels.
Secondly (and I love this idea): have a dynamic price for your product that increases by one-penny every time a new copy is sold. In other words, the book gets more expensive the more people buy it. If you’re a customer, that injects an urgency in buying the book.
It bears repeating: this really is the time to get into this game. Choose to be a creator, not just a consumer. Make great stuff and build a crowd around it. And forget how publishing has been done, and instead think about how it could be done.