As celebrities choose Amazon, is this the end for publishers? – The Independent – Guy Adams
The deal [between Amazon and James Franco], which was reported yesterday but has yet to be formally confirmed by either side, represents an ominous development for the industry, which in recent months has seen similar deals signed by the likes of New Age “guru” Deepak Chopra, self-help writer Timothy Ferriss, and the actor and director Penny Marshall.
For years, the rise of Amazon, which heavily discounts books, has been eating into the once luxurious profit margins enjoyed by mainstream publishers. There are therefore growing fears that the online giant could soon send their industry the way of the high street bookstore.
Personally, I scoff at big names like Amazon taking over, creating monopolies. One day they’ll collapse. But maybe I just haven’t had my tea this morning and am not thinking straight enough to feel worried.