Though many see publishing as a declining industry, there are a lot of new entrants to the business. There have been over 900 publishing startups, as noted by consultant and Future of Publishing blogger Thad Mcilroy, who was recently interviewed by London Show Daily and shared his opinions on the state of publishing startups.
He believes that we are “in a period of extraordinary innovation and generous investment” when it comes to the startup scene in general, not just publishing. He brings artificial intelligence as an example, citing it as a reason for the launch of thousands of startups.
He also has a strong sense that the people behind publishing startups “are mostly newbie’s”, but thinks that is a good thing, as “naivete has always been an advantage for the entrepreneur”. These new startups target self-published authors instead of publishing companies and operations.
It’s interesting to note that the failure rate for publishing startups is consistent with the failure rate overall for all startups, so publishing is just as viable a field to enter as technology.
Source: “Publishing’s Startup Culture”, Andrew Richard Albanese, London Show Daily, P.29