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Simon & Schuster said Tuesday that it is going to be the first of the major book publishers to take advantage of the booming self-publishing industry.
According to The New York Times, the industry has been booming over the past few years, with the number of self-published books tripling since 2006. There are now 235,000 self-published titles released every year.
The six major publication houses have been apprehensive about taking advantage, since content that they have not reviewed could tarnish their image. However, Simon & Schuster is working with Author Solutions Inc., which is already a respected name in the self-publishing business.
Author Solutions and Simon & Schuster announced the creation of the Archway Publishing imprint. The imprint will offer authors Author Solutions’ editorial and design services, as well as consultations with Simon & Schuster.
“Self-publishing has become a viable and popular route to publication for many authors, and increasingly a source of content for traditional publishers,” Carolyn Reidy, president and chief executive officer of Simon & Schuster said in a statement, reports USA Today. “We're excited that we'll be able to help more authors find their own path to publication and at the same time create a more direct connection to those self-published authors ready to make the leap to traditional publishing.”
Ironically, Author Solutions is owned by Pearson, which owns one of Simon & Schuster’s competitors, Penguin. Pearson bought the company in July, but since the deal with Simon & Schuster was already in the works, the two companies decided to still launch the project.
Author’s will be able to purchase packages that range from $1,599 for children’s books to $24,999 for business books.