“Surely going through a traditional publishing house is the best way, perhaps only real way, for authors to be published?” It’s a common assumption, and for decades it was true. Traditional publishing has long been seen as the gold standard, the ultimate validation of a writer’s talent. But the reality, especially today, is much more complicated.
In 2022, an anti-competition case brought by the US Department of Justice against Penguin Random House prised open the lid on the industry. Evidence showed that only a tiny percentage of traditionally published authors actually make any money. Just 35% of published books were profitable at all, and 60% of those profits came from only 4% of authors. Put another way: 85% of books published were considered commercial failures.
That’s sobering enough. But then comes the marketing question; with so much at stake, surely publishers would invest heavily in promoting their titles? Apparently not. The evidence revealed that only about 2% of revenue goes into marketing. That leaves authors themselves doing the bulk of the publicity, often with very little training or support.
It’s true that being published by one of the “Big Four” or other major houses gives you immediate exposure. Booksellers and libraries pay close attention to those catalogues. But does that guarantee sales? Not really.
If being on a publisher’s list were enough, then 85% of their books wouldn’t fail. And for smaller print runs, the economics often don’t stack up. Publishers can end up taking a loss, and when they do, there’s nothing left for the author.
Add to this the discounts demanded by large retailers and the “sale or return” policy (which allows retailers to send back unsold stock), and it’s clear that both publishers and authors can end up struggling. Galley Beggar Press, an independent publisher, laid this out in striking detail, showing just how much the system can erode earnings for everyone involved.
According to the Society of Authors, a typical royalty is around 10% of the RRP for hardbacks and 7.5% for paperbacks. And that’s only after a book has “earned out” its advance. Many never do. So, unless your book is one of the rare commercial successes, the financial reward is slim. And remember, by the time the bookseller, distributor, and publisher have taken their cut, the slice left for you, the writer, is the thinnest of all.
Against this backdrop, it’s easy to see why so many authors are turning to self-publishing. Once derided as “vanity publishing,” it’s now a serious, credible option. With independent publishing houses on the rise, digital platforms, print-on-demand, and the ability to hire freelance editors, designers, and publicists, it’s entirely possible to create a book that looks and feels every bit as professional as something released by a traditional publisher.
But here’s the catch, self-publishing means you’re running a business. You’re not just the author; you’re also the project manager, the marketer, and often the distributor. You can outsource these roles, but that means additional costs. The upside? If your book sells, you keep a much larger share of the profits. Amazon, for instance, offers up to 70% royalties on eBooks, a world away from the 7.5–10% typical in traditional publishing.
So, Which Is Better?
The truth is neither route is perfect. Traditional publishing gives you inherent prestige, editorial polish, and easier access to bookshops and libraries, but it comes with tiny royalties, high competition, and little marketing support. Self-publishing offers freedom, control, and potentially much better returns, but it demands entrepreneurial grit and financial investment up front.
There are also hybrid models out there, some reputable, some not. These can offer a blend of support and control, but authors need to be cautious. Many so-called “hybrid publishers” charge high fees while offering little in return.
The Bottom Line
If you want to write exactly what you want, keep creative control, and are willing to treat your book like a business, self-publishing can be empowering and financially rewarding. If you crave the validation, wider distribution, and the cachet of being “traditionally published,” then brace yourself for fierce competition and modest returns.
Either way, one truth remains, whether you’re signed by a big publisher or uploading your book yourself, the responsibility for selling it rests largely with you. Writing the book is only the beginning; selling it is the marathon that follows.