Are Traditional Publishers Getting the Message?

Today, Penguin announced the acquisition of  self-publisher Author Solutions, Inc. (ASI). Penguin’s CEO stated, “Self-publishing has moved into the mainstream of our industry over the past three years. It has provided new outlets for professional writers, a huge increase in the range of books available to readers and an exciting source of content for publishers such as Penguin. No one has captured this opportunity as successfully as Author Solutions, which has rapidly built a position of world leadership on a platform of outstanding customer support and tailor-made publishing services.”

ASI consists of AuthorHouse, iUniverse, Trafford, and Hay House. Its revenues increased at an average annual rate of 12% over the past three years. The company provides publishing, marketing, and distribution services, with the majority of its income coming from services to authors.

You can read the full press release here  http://us.penguingroup.com/static/pages/aboutus/pressrelease/asi_071912.html