Okay, so why does the news I've been waiting for happen right when I swamped with some unmovable deadlines? Well that's life. Unless you are living in a cave (this is all over the Interwebs) New York Times Best Selling author Barry Eisler walked away from a 2-book deal with St. Martin's Press even though they offered him a $500,000 advance.
For those who have not read the 13,000 word interview between Joe Konrath and Barry Eisler you can find it here.
So goes the first, in what I think will be many...already established traditional published authors going indie as they SHOULD. It is the best way for them to maximize their income - their legacy published works have built them a platform, now its time to take that platform out for a spin to maximize their income.
In related news...Amanda Hocking is in auction for a 4-book deal with a number of traditional publishers in a deal that is reported to be more than $1 million.
Are these two bits of news sending mixed signals? Not at all. People wonder why Amanda would take ANY deal considering she has made a reported $2M on her own. Because if she has done this well on her own...its quite possible that she can make the REAL big time - i.e. be right up there with Stephanie Meyer, J.K. Rowling, and Stephen King if she get bookstore distribution.
I think what we'll see a lot more of traditional publishing will be "one-timers" where and author signs to get some credibility and wide distribution (bookstore, libraries, schools, foreign rights) then do all their other books self-published.
Exciting times! I'm going to start making a list of those that make the jump (in either direction).