Small Fish, Big Pond: An Analysis of Trends in the Independent Book Publishing Industry

Small Fish, Big Pond An Analysis of Trends in the Independent Book Publishing Industry by Jill K Crotty December 4, 2015 Table of Contents I. Introduction a. Scholarly Opinions b. Scope of Topic II. What are the Trends in Indie Publishing? Defining the Trends a. Social Media to Bring in Original Voices b. Virtualization of the Publishing Environment c. The Proliferation of Content & Growth of E-Books d. Competitive Collaboration to Encourage Readership III. What do Indie Publishers Think about their Industry? Considering the Perspectives of Indie Publishers a. The Gap in Indie Perspectives b. Preliminary Findings c. Reflections on Individual Responses d. Recommendations IV. Conclusion INTRODUCTION Change is the only constant in business. As a new era in the publishing industry emerges, this statement reverberates from small indie presses to giant traditional publishers. Although change is nothing new, certain trends have begun to dramatically shape an industry unlike any other. University of Cambridge professor, John Thompson, notes that “changes in working practices, economic developments and technological advances can all have a major impact on the publishing chain, as tasks that were previously commonplace or essential are bypassed or eclipsed” (18). Experts in publishing believe these gradual shifts reflect a larger scale transformation in the book industry. Ted Striphas, a leading scholar of publishing, states “critics on all sides seem to agree that something has changed. The culture of books has been shifting—and continues to shift—under our collective feet,” (3) but the question still lingers what precisely has changed and what impact will this have on the independent, or indie, book business? On the broadest level, the willingness to adapt to new technology has driven all emerging trends. Smart phones, tablets and laptops are commonplace, and now even more advanced software has become user friendly. Publishers rely on web based project management tools, like BaseCamp, to facilitate teamwork across borders. Cloud based storage has also improved, thus enabling publishers to store hundreds of books with no physical storage. In essence the “move to digital is not just a format shift, but a fundamental restructuring of the universe of publishing” (McGuire and O’Leary 2). This rather grandiose statement conveys the complex implications of the growing digital environment. The movement to digital is not just a decision about whether to publish eBooks, but a strategic change in mindset. At the Books in Browsers conference–an event focused on books and technology—speaker, Jamie Bridle, stated, “technology doesn't necessarily always introduce new, entirely novel things, but it frequently brings them to light in ways that we haven't seen before.” For many publishers, ‘going digital’ means exploring ways of acquiring new talent, producing higher quality books, and becoming more efficient. From my personal industry experience and study, I will argue the four main publishing trends, which I believe will have the greatest impact on publishing today and within the next five years. These trends are: 1) the growth of social media platforms to gain new readers and authors through the creation of literary communities; 2) the development of the virtual office to reduce costs, improve global communications, and boost productivity; 3) the proliferation of content due to the dramatic rise of the eBook; and 4) the increase in collaborative competition among companies to widen the market. Although hundreds of trends emerge each month, most become obsolete within a year or two. The four trends I have identified add value to this industry, though the extent to which each trend benefits a press may vary based on the genre, size, and age of the business. I will begin my study by exploring these trends from the standpoint of the industry as a whole. Following this overview, I will analyze these trends from the perspectives of forty-eight small, indie presses. The scope of my argument will focus exclusively on presses who publish in English, and have a diverse mix literature. A firm distinction should be made between the various segments of the publishing industry. This paper will not go into authors who self-publish, meaning they have not published under a particular company’s label. Certain writers may be included if they have had experience with an indie publisher. For instance, they sought out formatting or layout assistance. Vanity publishers, though often mistaken for indies, will not be included. By focusing on small, independent publishing companies, an in-depth analysis can occur and recommendations can be given. I. DEFINING THE TRENDS Social Media to Build Community The pervasive use of social media is still a relatively new phenomenon, with adamant supporters, fierce critics, and bewildered spectators. In a recent study by Johannes Gutenberg University in Germany, researchers explored the link between social media and branding within the publishing industry and concluded “confidently” that “social media strategies behind publishing products increase purchase probability.” They acknowledged, however, that their study had not “specifically investigated why consumers prefer the products with a social media strategy” (Lis and Berz 209). Although the reason remains elusive, the rise of these platforms is unmistakable even as audiences switch between platforms such as Facebook, Twitter, Instagram, and YouTube. Gretchen Peck of Editor and Publisher Magazine points out, “Fickle audiences are fleeing social sites, but participation remains a mandate for publishers.” Presses, both large and small, must make a commitment to learning about various platforms and being flexible to the evolving landscape. Although the advantages of social media engagement are regularly touted, certain noted leaders in the industry seem to have little to say. In Merchants of Culture: The Publishing Business in the Twenty First Century, John Thompson only dedicates a small portion of his text to social media, specifically on blogging. Likewise, Ted Striphas of The Late Age of Print only briefly mentions Twitter at the beginning of his book. In truth, most would expect a larger discussion on social media from these authors, given that the vast majority of the publishing industry has an active online presence geared around creating literary communities. The lack of discussion could be because the authors do not feel these online channels are relevant; however, it is most likely an issue of awareness. Even in just the last few years the way readers, publishers, and writers interact online differs considerably from our current ways of communicating. When we look back, we see that Twitter only emerged in the 2006 and Instagram in 2005. For most researchers in the industry, the rapid evolution of these platforms makes a highly comprehensive study difficult. While scholars are trying to understand the impact of social media in publishing, presses have already begun to realize how incredibly integrated social technology is into the daily lives of readers. Eli James, founder of Novelr.com, notes “social interaction permeates every facet of today’s web publishing: from beta readers in the writing process, to comments, reviews, and blog conversations for web fiction and indie publishing” (128). Early innovators in the industry, typically indie publishers, use social media as a means of reaching a wider audience and creating a brand personality through posts, tweets, graphics, and videos. Already experts, such as Thomas Woll—an analyst on profitability in publishing—feel that publishers should “spend a minimum of four hours a day promoting on social media” among other activities (209). Interestingly, the greatest effect of social media is not promotion, but rather the growth of “reader interaction [which] has kept some web writers happy enough to delay the pursuit of traditional publishing” (James 128). Previously, traditional contracts were holy grails for aspiring writers. Although this remains true to an extent, aspiring writers have discovered smaller presses and self-publishing to be a means of achieving publication without the backing of a giant publisher. The Virtual Environment to Eliminate Cost Barriers Few industry leaders acknowledge the increasing virtualization of the publishing environment, even as eBooks grow in popularity. Yet, as the physical book changes, so have methods of “creating, managing, developing and transforming…content,” which has resulted in a “process that can, in principle, be handled in digital form” (Thompson 327). The once radical idea of a company without physical offices is the new norm. Through content management software and print on demand options publishing companies create unparalleled virtual environments. John Maxwell and Kathleen Fraser of Simon Fraser University caution that traditional books are not to be “displaced, or replaced, but must now co-exist with myriad other forms in a vast digital ecosystem.” Undeniably, the virtualization of the publishing industry is shaping the business models of smaller presses. Moving traditionally manual operations to an online platform comes with growing pains and unexpected expenses. John Brady of the publishing consultancy company, Brady and Paul Communications declares the “virtual publishing environment isn't for everyone. It's not for the change-averse. It's not for technophobes. It's not for people who don't enjoy working alone.” Rising indies and transitioning large presses inevitably encounter learning curves that go beyond just mere technical know-how. Although virtual environments include the usual meetings, deadlines, and fierce conversations, the extent of this change should not be underestimated. The costs saved by eliminating the standard office space, may be replaced by the “level of investments required to build and maintain state-of-the art IT infrastructures” (Thompson 326). This statement rings particularly true for large presses that generate millions in revenue, however smaller presses with fewer needs typically do not face as many IT obstacles. For employees going ‘virtual’ changes job descriptions, and puts “the need for greater sophistication in planning and managing content … on the classical editorial function” (O’Leary 75). To succeed, employees and the company must strive to become flexible and act quickly in their changing environment. Presses continue to move elements of the publishing process online, because the sheer number of opportunities for expansion exceeds the initial hassle and investment. Vice President of Baker and Taylor, David Hetherington, recommends presses “review their traditional infrastructure and operating protocols...to shed non-core activities and free up capital” (385). A growing number of tech companies now offer low cost, or free, SAAS programs, which meet the needs of most small to medium presses. BaseCamp, Join.Me, and Smartsheet streamline processes and enable teams to connect across the globe. As presses find ways of fine-tuning their transition into the virtual world, they enter an entirely new market. Companies discover that the “growth of digital delivery as a viable alternative to the printed text” as well as “on demand and short run digital printing as a financially credible book manufacturing technology” increases a firm’s competitive advantage by lowering costs book costs (Hetherington 386). Presses are no longer bound to economies of scale, which enables presses to take control through harnessing accessible, user-friendly technology. Proliferation of Work Across the Industry The dramatic growth in written pieces produced will continue to increase exponentially as aspiring authors seek to share their stories with the world, and now are able to due to the multiple channels available. Over the last three or so years, the amount of content produced has dwarfed the amount in past decades. This is also partly due to the development and prevalence of Word Processors. In a study conducted by ProQuest affiliate Bowker reveals that “the number of self-published titles in 2013 increased to more than 458,564, up 17 percent over 2012 and 437 percent over 2008.” Once way to determine the number of published titles per year is through the number of ISBN numbers which help gauge the number of books in circulation. One study cited by Digital Book World noted that “jumped nearly 60% versus 2011.” This increase in works has posed a Herculean task to small presses that find themselves swamped by content. For indie presses, as well as larger publishing companies, the increase in quantity makes finding quality amidst poor or irrelevant writing difficult. Thompson writes that “Documents---including proposals and manuscripts—are commonly circulated as electronic files rather than printed texts, a development that has facilitated multiple submissions and auctions” (326). Many authors feel that a growth in the number of manuscripts should mean an increase in the number of books published. Publishers continue to be selective, especially in small presses where a book can make or break the business. Kassia Krozser states “If publishers want us to value their content, then publishers need to lead by example by producing content that shows how much they value both their authors and their customers..”(204). This dedication to value; however is not consistent. He goes on to say that the “The sad face of the matter is these types of errors appear in just about every ebook I read, from publishers great and small (Krozser 204). The push to produce a greater number of works has become incredibly straining on small publishers as they compete with presses that publish hundreds of manuscripts per year. However, even the larger publishers now shy away from generating as many books as they once did. The publishing business discovered it was much easier to market a smaller number of titles, than to invest in multiple. Thompson warns that “Now if you’re going to publish fewer titles and still achieve your growth targets, you’re going to have to do your best to ensure that some of the books you do publish sell exceptionally well. This is the basic organizational necessity that underlies the preoccupation with ‘big books’ (192). So, despite a larger number of works being produced, the economics of the book industry have prompted a certain number published each year for large presses and a select few for cash strapped indie’s seeking quality. The Emergence of Collaborative Competition Undeniably the competition with the publishing business is fierce, however a growing number of small presses have also characterized the current environment as collaborative. Seemingly counterintuitive this change has had considerable impact on the way indie presses do business. By collaborative with other indie’s, book manufacturers can create a market much larger than they can. There is a great power that can be found in size, as well as a great disadvantage. Thompson notes, “Whereas the large publishers benefit from an economy of scale, the small publishers benefit from what we would call an economy of favors.” This economy of favors does make sense when examined in relation to entire competitive industry. Huffington Post reports, “A book has less than a 1% chance of being stocked in an average bookstore” (Gallagher). With odds like this, it is crucial for indies to consistently pursue creative ways of profiting that larger companies may not consider. Thompson goes on to say, in regards to indies, that “problems are exacerbated by the fact that you will not be able to achieve the economies of scale that the larger corporations can achieve and you will have less clout in your negotiations with suppliers and retailers” (179). Although initially grim, small presses have developed means of leveling the playing field. More and more indies see their competition as potential partnerships, this collaborative competition benefits both parties. Thomas Woll remarks “In the many years I’ve worked in the publishing industry, one of the things I’ve learned to appreciate most is that people within the industry willingly share information with others” (xxxvii). This is especially true of small presses that band together. Like village inhabitants, each has something to contribute. “One way it operates,” Thompson explains, “is that small presses commonly share knowledge, expertise and contacts with one another. They see themselves as part of a common vocation and shared mission” (157). This idea has made small presses question truly who the competition is. O’Leary notes that existing firms aren’t so much of a threat as new businesses. He states “New entrants—our real competition—start with the customer. They develop contextual frameworks that help them differentiate both readers and themselves. The new guys like the new tools because they are cheap, scalable, and open source” (11). A closer look reveals that the threat is not new publishing firms per say but their innovation largely driven by top of the line technology. Although indies feel the influence of large presses, it’s important to note that established publishing companies also take notice of smaller presses. Ted Striphas states “As far as the more established publishing firms were concerned, the ultracompetitive environment ushered in by this new crop of book publishers destabilized the book industry” (33). This destabilization is noted by Krozser who also points out, “When publishers navigate them, they face serious competition from the self- published author, the digital start-up, and pirates, not to mention competition from other media” (Krozser 207). The closely knit and charged players in the publishing area have developed partnerships and collaborations in order to reduce other external competition and grow the market of readers. II. AN ANLYSIS OF PRIMARY DATA Despite the incredible amount of research done each year on the publishing industry, studies typically only look at the “big six “of the publishing industry. These carefully conducted studies give great insight into the successes and failures of book producers with worldwide influence; however, in doing so an unhealthy stereotype of the publishing industry emerges. The term ‘publisher’ evokes the idea of a multi-million dollar company with locations in major cities, and a select few authors striking it rich. Although this is one side of the story, thousands of small to medium sized presses remain relatively unheard. These publishers tend to serve unique geographic locations, market to certain niches, and establish close relationships with both authors and readers. These voices, though not easily heard, deserve to have a word in the conversation. To gain a better understanding of the trends within the independent book industry, I reached out to forty-eight small to medium sized presses across the United States. I asked the founders and employees of these companies about the various shifts they have adopted or are considering adopting. While some companies instantly jumped certain trends, other have been more reluctant. The research conducted provides more than simple statistics, but an explanation for the ways the indie industry moves. Social Media: The Indie Marketing Strategy For small indie presses, social media acts as inexpensive means of promoting titles and strengthening the overall brand of the company. One in Wisconsin said, “When you don’t have big budget for marketing, turning to social media is—a free option—to reaching the masses and getting your name out there.” A niche publishing company focused on diversity made similar remarks saying that they are able to reach a much wider audience on “social media versus traditional forms of communications like advertisements and paid co-op placement in book stores.” Although increasing outreach increases the familiarity of the company, it is the element of engagement yields the best results. A press in New York and Oklahoma insisted that social media “ gives our audience the feeling that they’re interacting with real people, and not just some corporate entity.” Social media in this way enables a company to differentiate itself by positioning their brand as more intimate and friendly than a traditional publishing company, which are viewed as more aloof and less personable. A strong brand personality may lead a reader or writer to pick one publishing company over another. However if this marketing is not done properly, publishers can feel as though they are posting to an empty room. One press in New Mexico that publishes a variety of fiction works said “I feel it’s also a more anonymous environment. We can reach millions of people, but we rarely know our audience the way we used to when were maintain a regular mailing list.” Using platforms like Twitter, Instagram and Facebook to establish a brand personality, also boosts the firm’s credibility. Although not as frequently discussed, blogging can produce similar results. A California children’s book press mentioned that blogging “also helps with credibility to our company, especially because all that content stays online and when anyone looks up our books, it’s all there.” By using social media to reach and engage with a wider audience, and establish a brand personality to build credibility, indie publishers will increase their number of readers and attract new authors to their presses. In spite of all the benefits, it is important to realize the cost of social media to the usually understaffed and low budgets that most independently owned presses face. Many of the late adapters of social media expressed the difficulty of measuring the return on investment social has in the long run. One slightly exasperated owner said “I wish I knew” when asked about any effects social media had had on his business. Although indicators, such as Klout scores, exist to measure the influence a person has online it does not directly indicate sales brought in. Likewise, Google Analytics can track certain steps a consumer made before a purchase along with various touch points such as signing up for a newsletter; however, the extent to which the customer was influenced by social media to make these purchases is largely uncertain. When asked about low social media, a handful of presses cited a lack of time. One responder from a press in Washington acknowledged “it seems the road to success with social media involves devoting a lot of time, without clear payoff.” Social media has a considerable opportunity cost. Most feel that the time spent Tweeting and posting could be better spent elsewhere in the company. An overall lack of knowledge about social media has held back many indie publishers as well . A Georgia press that produces young adult literature said “Social media is for socializing not business. The trick is making your business a ‘social thing’. It is rather tricky because it is still uncharted territory. The learning curve is vast and there is no blue print yet.” The hesitancy this founder feels is a valid one. Although anyone can set up an account utilizing these platforms for maximum impact takes experience. In spite of cost of time, publishers can reap great rewards from social media if they post strategically to position their brand and engage authentically with their followers. Virtual Environment: The Decline of the Traditional Office In the survey conducted, 72% of respondents considered their press “primarily virtual”, meaning that employees complete a significant portion, or all, of their daily duties online without the need of a traditional office space (Crotty). The ongoing goal to increase efficiency has driven even hesitant publishers to transition into a more digital environment. A small, diverse press in North Carolina notes “working virtually streamlines our operations and gives us maximum flexibility.” For indies, the ability to adjust to market conditions quickly provides a key advantage. According to an older press in New Mexico, “Being able to use cloud services like DropBox and Google Drive has changed everything.” Previously this press ran contests and “500 entries would fill a garage,” however now they use Submitiable, and “it’s no problem.” Other independent publishers find that the virtual environment reduces operating barriers of the past. A press with a focus on young adult literature in California says they publish entirely through “Amazon and CreateSpace web portals.” The owner describes these platforms as “ the beginning of my business because I had no experience otherwise.” Easy access to technology once reserved for only giant publishers, allows indies to exist. One relatively new founder of a publishing company in New York said “I am a poor man in a rich man’s world. Without the virtual world, I wouldn’t stand a chance to get my work read or recognized.” For companies that publish fewer than 50 books a year, the virtual environment enables their voice to be heard. For small presses access to talent is just as important as improving operations. A children‘s and young adult publisher in Georgia says “ Telecommuting has been a big game changer. It allows you to work with talented designers, artists, editors, printers, distributors, and authors anywhere in the world.” One press specializing in diverse literature in New York mentioned that Skype enables their press to “make appearances without incurring travel costs.” The high flexibility of working hours found in most virtually run companies attracts individuals eager to forego the typically 9 to 5 shift as well. A respondent from a medium sized press in Tennessee mentioned “the beauty of it for me personally, is that I have a disabled child I home school, and I can work at home and also care for her.” Founders and employees with nontraditional situations have an opportunity to balance their work and life that would be impossible in an office environment. By leveraging global talent and taking advantage of flexible working hours, indies develop powerful and diverse teams. Time differences posed a significant problem to small presses collaborating from around the world though. One press in New York and Oklahoma commented “the only difficulty is matching up times that work for everyone, since we’re all in different time zones.” Unlike a regular office, group tasks take more coordination when multiple people across different continents must be present. Publishers turn to meeting applications to reduce the headache; however, one press founded in the eighties in West Virginia remarked that “this created a non-ending day. 24-7 is now literal.” A couple presses seemed to perceive the virtual environment as a low quality alternative. One publishing company founded in eighties stated “ employees who face a long commute, or bad weather are allowed to work from home several days a week.” Although the overarching complaint was the issue of time differences, the current perception of the virtual environment as a supposedly weaker alternative played an intriguing role in publishing company’s decisions. A fair number of respondents, approximately, 28% did not classify themselves as primarily virtual. Although many presses cited reasons such as time difficulties or a desire to work near people, about four respondents expressed confusion over the idea of a virtual environment. One press that focuses exclusively on memoirs said “I’m not sure what you mean by ‘virtually’. Email is about as virtual as we get.” Responses like these reveal that not all founders of indies are familiar with the changing landscape, or were confused by the terminology used. The number of presses which completely skipped the question, or responded with a confused answer were minimal though. Despite the occasional minor scheduling conflict, most independents have embraced the digital landscape with open arms . Indies feel they are on slightly more equal footing with large presses because of more efficient online operations, access to talented team members, and flexibility in working hours. The sheer benefits from a cost perspective outweigh the risks for small presses looking for an edge. A press in Wisconsin noted “the fact that we’re virtual, and our team members can live across the country AND globe, has likely been one of the main reasons for our success.” The virtual environment is the optimum solution for small presses. Proliferation of Content: Indies Balance Increased Workload As the number of self-published works has risen, so have the number of submissions received by indie presses over the last five years. Almost all of the indies I surveyed, experienced a growth in the number of manuscripts submitted. An Illinois based publishing company with a focus on mystery says they “regularly cut off submissions” until they can catch up. Similarly, another press in New York that specializes in memoirs stated that they receive “about 1000 queries each year.” For small presses this influx puts considerable pressure on employees to read and respond to manuscripts. Some hybrid presses that offer self-publishing and traditional contracts “witnessed a larger number of submissions as the term has become more widely understood” as stated by a small press in the north. Despite the seemingly ubiquitous view that quality is declining, the vast majority of the indies contacted expressed a widely different opinion. Presses recorded an increase in perceived quality over the past five years. A new press in California, which takes on self published authors, claims “authors have improved greatly in quality of manuscripts and marketing savvy.” A Texas based publishing company also commented that “ the independent self-publishing tools available to authors today permit many manuscripts to have better quality content, as well as better educated authors…” From these surveys, a possible connection seems to exist between better knowledge of the industry, and the standard of writing. Some presses attribute the rise in quality due to changes in their individual business as opposed to the industry as a whole. One medium sized publisher remarked “as we’ve better established ourselves, we’ve received both more and better submissions including a much larger volume of agented submissions.” Through access to publishing houses and tools, a greater number of quality authors are able to have their voices heard. Many recently founded indies refused to respond on trends of quantity and quality because of how new they are in the industry, and a few seemed to display uncertainty. One press in Colorado that specializes in drama feels “the ability to send manuscripts virtually reduces the perceived risk for a lot of authors” and this leads to writers submitting pieces that “aren’t quite finished.” Others, such as a children’s book publisher in Georgia , feel that new authors, tired of rejections, tend to print books through Amazon with “layout and design errors” and a lack of “copy and content editing.” The growth of new voices entering the market inevitably increases the potential for lower quality pieces to slip through. Admittedly though, most individuals want to publish a work of high standards, and will take advantage of readily available information about the process. Although technology has not created a better writer, it has given indie presses the ability to establish their businesses further, which allows new writers the opportunity to publish their work. In the highly selective world of the book industry, high quality works often aren’t published because of the lack of publishing companies with capital power. A New York press with a focus on memoirs believes “there are more authors seeking publication, and fewer established outlets for their work.” The continued accessibility of publishing tools along with the push to create a work worthwhile has brought new voices to light. Competitive Collaboration: The Unexpected Advantage Unlike large traditional publishers, indie presses perceive the level of competition in the industry much differently. Indies from around the US feel the pressure of the rapidly growing and changing environment, but also expressed a feeling of camaraderie between small presses. In North Carolina a press stated that although “ the rise in the number of self published authors and increasingly aggressive tactics by the Big 5 mean that indie publishers and small presses often feel the squeeze…there is also a strong collaboration among serious indie publishers.” This theme of collaboration runs through much of the data collected. One of the founders of a children’s book press in California remarked that they “prefer to think of publishing as cooperation and not competition.” Comments like these undermine the stereotypical picture of bickering publishing companies. The idea of coming together to share knowledge is one that has gathered strength. A young adult publisher says “among independent, small, and medium presses, it is usually cordial. There is a small group of presses that are very generous with the knowledge and skills that they have acquired.” Survey respondents who expressed frustration with the competitive climate tended to compare themselves to giant, New York based presses. One relatively new company with just one book out, felt that the system is “designed for the big guys, by the big guys.” Two presses used highly similar analogies of being small fish in a big pond. Another young adult press described feeling like “a very very very small fish in an extremely large ocean and sometimes I wonder if I’m in the water.” For companies attempting to position themselves in relation to billion dollar presses, this feeling is understandable. As publishers continue to merge, the gap between large and small companies will increasingly grow. “With the advent of large publishing conglomerates, and self-publishing through Amazon, I believe publishing is more competitive than ever” says one well established publishing company in Minnesota. The enormity of big books can deter small publishers as they find their spot in a busy industry. One children’s book press considered themselves not just a small press, but a “micro-publisher” and stated they were “too small to compete in any real sense.” For emerging indies, examining the entire industry as opposed to simply independent presses can be detrimental. Interestingly, some indies says that their small size gives them an advantage by enabling them to focus on a particular genre. A theater press says “Of course , there is competition, but each company has niches within which it operates the best, and that helps to reduce aggressive practices.” Others create a niche for themselves using their geographic location. A Missouri press feels that “with small presses, and particularly local ones, there is little competition.” It’s important to note that a press can feel competition from book sales as well as publishing services. The particular business model of the press may influence how a publishing company perceives the competition. Some, such as a children’s press in Illinois, believe that a “publisher must have a niche.” Although having a single, genre or location focus may not be for everyone, it can be advantageous to gain power a particular market. The broad topic of the competitive publishing environment elicited multiple responses from all of the presses interviewed; however, the concept of the collaborative competition stood out. By utilizing combined knowledge and connections, small presses gain a distinct advantage and separate themselves from the capital and resource heavy Big Six. By joining together indies grow their audience and attract budding authors. Although some small presses will still try to compete head on, others will act strategically using other presses as “teachers and comrades” as described by a multi-genre press in New York. Other small companies will pick the niche route to become a leader in a smaller market. By embracing competitive collaboration, indies can better use the non-capital resources at their fingertips. IV. Conclusion Although the publishing industry faces considerable threats from new technology, these threats can be opportunities if presses are willing to adapt to the new digital environment. This is especially true of indie presses, who have demonstrated their flexibility and creativity in the last decade. Within this study I discovered four major trends:  the growth of social media platforms to gain new readers and authors through the creation of literary communities;  the development of the virtual office to reduce costs, improve global communications, and boost productivity;  the proliferation of content due to the dramatic rise of the eBook; and  the increase in collaborative competition among companies to widen the market. Indies will experience continued growth as they learn to leverage their small sizes, and connect with readers and authors on an intimate level. With over 70% of indies already considering themselves as primarily virtual, these presses will discover innovative ways of building their brand through social media in the crowded marketplace. Incoming independent publishing companies will likely be entirely virtual in an effort to eliminate traditional infrastructure costs and gain talent from around the world. 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