Only it’s not.
Instead, Random House handed out $5,000 bonus checks from windfall profits. Simon & Schuster signed a critically acclaimed author whose #1 bestselling book was self-published.
And despite Amazon reporting that more than a quarter of its bestsellers were self-published last year, revenue from traditionally published books held up.
Self-publishing is a huge and disruptive force in the publishing industry, but contrary to popular belief, it’s largely benefiting publishers.
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