What Does Book Publishing Stand For? ...Middle East

Seven years ago, when Amazon was in the midst of a contentious pricing battle with one of the country’s largest publishers, a group of famous authors banded together to make the case that publishing was a crucial industry for the nation’s cultural and intellectual life. “Publishers provide venture capital for ideas,” the authors wrote. “They advance money to authors, giving them the time and freedom to write their books….Thousands of times every year, publishers take a chance on unknown authors and advance them money solely on the basis of an idea. By assuming the risk, publishers expect—and receive—a financial return.” The letter was signed by a who’s who of American writers: Stephen King,

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What Does Book Publishing Stand For? ...Middle East

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