The self-publishing industry has created a new publishing market that could potentially reach $52 billion, according to a new report from media technology firm New Publisher House. According to the report, this is twice as much money as the traditional book publishing industry in the U.S. brings in in its current total annual sales revenue.
The State of Independence 2014 report looked at insights gathered from publishing executives, Amazon, Google and industry data to come up with its conclusions. The report also revealed that the number of aspiring self-published authors that have completed manuscripts is more than 100x the number of actual published authors. In addition, according to the report, self-published titles are 8x the number of mainstream published new titles.
“Traditional methods of sizing the publishing market have hidden the real industry impact of the self-publishing movement,” stated James O’Toole, founder/CEO of New Publisher House.
EDITOR’S NOTE: THE POST HAS BEEN UPDATED.