This post is in response to a recent series of Huffington Post editorials about the future of publishing. Each voice in these editorials, like each voice in the larger ongoing conversation, has a valid point of view. Ignoring how we got where we are, however, or the realities of this moment, fails to address the future that is hurtling toward us.

On Thursday, October 7, Mark Coker, CEO of Smashwords, posted an editorial titled, Why We Need $4.00 Books. As the head of a company devoted to servicing the e-book market, it’s not surprising that Coker touted the functional and distribution advantages of e-books over published texts, or that he focused on the crushing costs associated with maintaining the traditional publishing model while ignoring e-book costs and the threat of digital piracy. Coker also took notice of the publishing industry’s recent decision to withhold e-book versions of frontlist titles as a defense against cannibalizing book sales:

Many publishers view ebooks with a skeptical eye. After all, won’t cheap ebooks cannibalize expensive print books?

This is the wrong way to examine the situation. Lower cost ebooks help publishers retain customers who might otherwise abandon books altogether in favor of lower cost alternative media options.

Ebooks also hold the promise to expand the worldwide market for books. Hundreds of millions of new middle class and literate consumers have come online outside the US, especially in developing countries.

In Coker’s view e-books equal a larger market share for an industry facing intense competition for eyeballs. This larger market share would in turn compensate authors and publishers for a lower per-copy price.   Read more