Libraries are Killing it!

It may be time for the development of a new model if sustainability is a goal. Other things to consider: the trend lines for many of these changes are interesting particularly the movement towards audio formats, over the past 20 years Amazon (and others) have developed publishing and commercial platforms which have empowered many new authors and content creators and library budgets have not kept up with this level of increasing demand.

AUTHORS GUILD INCOME CRISIS: A new study (June 9) by the Codex Group for the Authors Guild finds that only 25% of books read in the past month were bought new or via paid subscription. Median author income has collapsed to ~$10,000/year -- down 42% since 2009. Only 19% of print/ebook reads were new purchases; 29% came from libraries; 35% from personal collections, friends, or piracy. The structural disconnect between book availability and author compensation has reached a critical threshold.

https://lnkd.in/d_DwXHRQ