This is incredibly incorrect! The examples you've pointed to illustrate the smiling curve [1].
Publishers still have an enormous amount of leverage and power, and that is extremely important for other businesses operating in that space. Not everybody is an individual creator, and some creators prefer to work on small teams. You're describing this incredible transformation of the value chain (who provides value, who captures value) while missing the point!!
> It's just that the power asymmetry is disappearing
This is so fundamentally untrue. Do individuals have more power? Yes! Their BATNA (best alternative to a negotiated agreement) is now "fine I can self publish and survive." That doesn't mean there's not a huge power asymmetry still. Without the blessing of Microsoft, Sony, Apple, valve it is hard to get my game featured. Can I still go viral? Of course! But listen to Zach Gage talk about the funding difference for making a game for Apple Arcade. It prefunds development and allows him to hire a team.
As for rights negotiations, even Taylor Swift had some difficulty reclaiming ownership of her masters. The power asymmetry is alive and well.
> Would you rather I delete my comment
No, I want you to read more carefully and engage with the things people are actually saying and not what you think they are saying from briefly skimming what they write.
> You're describing this incredible transformation of the value chain (who provides value, who captures value) while missing the point!!
Yikes. I really do not appreciate your unkind tone in these last few messages.
There's a really big trend you're missing by focusing on old anecdotes.
The creator economy is on pace to exceed the size of Hollywood and the music industry combined.
There are kids on Roblox making six figures while still in school. The next generation knows what's up - they want to be YouTubers and not movie stars, because they know how fundamentally the world has changed. How a world that once relied on nepotism is opening up more opportunity. (It's still hard, but you don't need the "right parents" anymore.)
$100M brands and franchises are launching on YouTube.
Publishers and distributors will take what they can get. They make money on volume now, and if they screw over publishers, new players enter to fill the gap.
You could even go raise capital on that narrative of servicing the creator economy. The VCs I've talked to are excited about it.
> But listen to Zach Gage talk about the funding difference for making a game for Apple Arcade.
It's becoming easier than ever to raise funding for video game development. There are now dozens of funds specially for this. Including funds that give you six figures without a demo if you've already worked in the industry.
> As for rights negotiations, even Taylor Swift had some difficulty reclaiming ownership of her masters.
Taylor Swift is a billionaire and she negotiated her early contracts two decades ago. Before steaming, ie. ancient times, ie. when dinosaurs roamed the earth. And she's found ways to wiggle out of them.
> There's a really big trend you're missing by focusing on old anecdotes.
We're talking about the same trend: the transformation of the publishing industry across all different types of media.
I'm not missing it. I'm paying attention to the context of this transformation and what it implies for all of the participants, not just individuals.
The point I was making in my original post is that an author in the 80s did not have the same options as a creator today. You have repeatedly responded by talking about how creators today have so much power.
Please, go read a piece about the smiling curve from Ben Thompson, because it's important. This trend implies that margins accrue to the two ends of the spectrum. Yes, individuals with low costs win, but also there is another side to the smiling curve. While life can be good as a YouTuber, TikTok, Meta, and Google are not taking risks on content like the publishers of old but they still reap the profits from media production. It is the creators who now bear the risks.
This also means that the traditional mechanisms of funding your book through an advance are fundamentally different (they exist, yes, but they're different)
And because the smiling curve implies a hollowing out of the middle, it is harder to survive as small publisher (see the transformation and aggregation of magazines, newspapers, tv stations)
Am I excited about this future? Yes! But it's not an unmitigated good. And one can't understand it if they don't know any of the historical context or see what's happening to other players in the industry
This is incredibly incorrect! The examples you've pointed to illustrate the smiling curve [1].
Publishers still have an enormous amount of leverage and power, and that is extremely important for other businesses operating in that space. Not everybody is an individual creator, and some creators prefer to work on small teams. You're describing this incredible transformation of the value chain (who provides value, who captures value) while missing the point!!
> It's just that the power asymmetry is disappearing
This is so fundamentally untrue. Do individuals have more power? Yes! Their BATNA (best alternative to a negotiated agreement) is now "fine I can self publish and survive." That doesn't mean there's not a huge power asymmetry still. Without the blessing of Microsoft, Sony, Apple, valve it is hard to get my game featured. Can I still go viral? Of course! But listen to Zach Gage talk about the funding difference for making a game for Apple Arcade. It prefunds development and allows him to hire a team.
As for rights negotiations, even Taylor Swift had some difficulty reclaiming ownership of her masters. The power asymmetry is alive and well.
> Would you rather I delete my comment
No, I want you to read more carefully and engage with the things people are actually saying and not what you think they are saying from briefly skimming what they write.
[1] https://stratechery.com/concept/aggregation-theory/smiling-c...