Extracted from The Guardian, UK
by Ilana Masad
These days, it is minimally staffed and funded firms who invest in new authors. The giants avoid such risk, only picking the writers once their names are made
Independent publishers have existed since the 19th century; it wasn’t until the 20th and the 21st that we saw the industry dominated by a few corporations. “The Big Four” publishers – Simon & Schuster, Penguin Random House, Hachette and HarperCollins – have grown big by buying up small publishers. Hogarth, for example, was founded by Leonard and Virginia Woolf in 1917; now it is an imprint at the Crown Publishing Group, which is in turn a part of Penguin Random House – which itself used to be Penguin and Random House before their merger in 2013. Phew.
Some success stories have already been written about, both on the Guardian and elsewhere. His Bloody Project, published by Contraband – a imprint of Saraband, which is run by two people – was nominated for the Man Booker prize, for example, and Transoceanic Lights by S Li was published on a shoestring budget by Harvard Square Editions and named as one of the National Book Foundation’s Five Under 35. (…more)