Innovation is Key

This article in Publishers Weekly talks about the ways that some small, independent publishers have been able to prosper in this tough economy. The two primary reasons are that they are not afraid to be frugal and are not afraid to be innovative. A number of these companies have taken to helping authors grow their own businesses through promoting their books. Publishers should not be afraid to try out new, fresh ideas.
Independent musicians have become increasingly popular via social networking sites such as myspace. Indie film festivals and other events are all over these days. Certain groups of people are growing tired of big name movies and music; the publishing industry should capitalize on this and market to those who 'go independent' in their choice in films and tunes. Technology is important, but it isn't everything. Small publishers should recognize that every outlet should be utilized, not simply those outlets that are the most obvious.