Deciding between the publishing options for your book can always be a struggle. Having the best story in your hand but wondering how to reach millions of people can always be the big question.
Legacy publishing and Traditional Publishing are like synonyms used in different periods.
The primary distinction between self-publishing and traditional publishing is who writes the checks. Legacy publishing will save you money, but you will give up some control and most likely speed to market. If you self-publish, you must do everything necessary to create a great book, whether you do it yourself or hire someone to do it.
We must look at the Publishing terms in detail to find the most suitable option.
Without any further delay, let’s get into the particulars of Publishing.
What Is Legacy Publishing?
Legacy publishing is the process of publishing books, magazines, or newspapers in print or electronic form. The publisher is responsible for editing, marketing, advertising, promoting, and distributing the work.
Legacy Publishing isn’t a word you would hear nowadays because it’s an age-old term.
Legacy publishing refers to publishers still active in the industry but has been around for a long time.
What Does Traditional Publishing Means?
Traditional publishing means you submit your work to publishers, who will then decide if; they want to publish it and distribute it.
The publisher also decides the price and print run. Traditional publishers are new to the industry with a more modern approach to their business.
There are now many different ways to publish a book, and authors can choose which one is best for them.
Difference Between Legacy Publishing And Traditional Publishing
There is not much difference between legacy publishing and traditional publishing.
Keeping their definitions in mind I’ll try to explain how they are similar to one another.
The word Legacy means something that happened in the past. Tradition means something already existing or is part of a tradition.
With both the terms, something that remains common is the word “Publishing” which is the occupation of making a book for use and sale.
Publishing started in 1234AD before that there was no record of information anywhere and was only carried with word of mouth or through actions. Only when publishing pieces of equipment came into being was when the legacy of people saved in papers and book format.
Hence Legacy publishing is now known as traditional publishing.
If you want to know about the difference between personal finance and financial literacy, you can check my other article.
Difference Between Legacy Publishing and Self Publishing
|Legacy Publishing||Self Publishing|
|Legacy Publishing is a time-taking process||Whereas self-publishing is a much more convenient option to get your book on the market|
|Legacy Publishers need your book idea||But with Self Publishing, you don’t require anyone’s approval or validation by offering or showing your book idea|
|Legacy Publishers incur all the costs to get your book to the market by hiring proofreaders to designers and arranging the royalties for the author.||But with Self Publishing, you control the power of your money. Either: you hire someone to do all the things for your book or do it yourself. The investment can range anywhere from zero to hundreds|
Difference Between Legacy Publishing And Vanity Publishing
Legacy publishing or traditional publishing is at the expense of the publishers. Vanity publishing is at the cost of the author.
You may confuse vanity publishing with self-publishing, but it’s different. In vanity publishing, the author pays the publishing firm.
But in self-publishing, the costs can be cut-down with software and designing websites. In self-publishing, the author can hire someone to do all the work like writing, editing, and creating the cover or do it by himself.
So you might wonder then, how is legacy publishing different from vanity publishing?
The audience’s reach is what makes them different.
|Legacy Publishing||Vanity Publishing|
|Legacy publishers cover all the expenses of the book, including marketing, editing, and promoting, and offer royalty to the author once they find the book idea is of their set standard.||Vanity Publishing accepts almost any kind of book, publishes it, and markets it to a limited number of people when the author pays for this service.|
Pros And Cons of Traditional Publishing
Sometimes deciding what’s best when it comes to publishing can become a real struggle. Listing its pros and cons to getting a clear idea is always handy.
Legacy/Traditional Publishing Benefits:
- Zilch-Investment: The great benefit of traditional publishing is the author doesn’t have to invest in anything. But he gets to enjoy the royalties.
- A Reknown Name: Getting published with a publishing house that has been in business for years offers recognition to the author.
- Placement In Bookstores: The added pleasure of getting published with a traditional Publisher is to see your books get placed in the bookstores.
Legacy/Traditional Publishing Disadvantages:
- Complex Paperwork: The biggest con of traditional publishing is that it has complex paperwork the author has to sign and eventually give up some rights over the work.
- Low Royalty Rates: The traditional publishers give a lump sum before the book gets sold. Hence you lose your right over the profit earned for your book. Therefore, the author has low royalty rates.
- Long Term: It’s a long-term process when the book is published through traditional publishing because first, the book idea needs to be approved and sent forward for review. In the pile of books, yours might get stuck in a long line to get its chance.
Pros And Cons of Self Publishing
Self-publishing offers freedom to independent writers to showcase their craft. However, it is subjective to some pros and cons.
Some Benefits of Self Publishing are:
- Easy Publishing: With self-publishing platforms getting your book published is just a click away. Once your manuscript is ready, you have to log in to the self-publishing website, upload the content and click publish.
- Control The Editing: You have easy access to control the editing you want to make in your book. In the draft, edit the changes and republish.
- Long-Term Benefit: Experimented with ebooks, then published as books. Due to their online presence, self-published books have long-Term benefits than traditionally published books.
Some Disadvantages of Self Publishing are:
- Promotional Activity: All the promotional activity lies on the shoulder of the author. He has to get his book noticed by the reader. If the author has some following, it will be beneficial. But if he’s a newbie, he’ll need to invest his time in promoting his book.
- Low Chances in Bookstores: Most bookstores stock up books published through traditional publishers, so as a newly self-published author, you’ll be spending a lot of time getting them to agree to keep your book on the shelf. That too only when your book is a success online.
- Can Be Expensive: As a self-published writer, you run short of time to proofread your work, design a good book cover, or find ways to market your book and hire a professional. This is one of the cons of self-publishing. It can become expensive.
Pros And Cons of Vanity Publishing
If only for the sake of getting your name out in public. If you wish to pay publishers then vanity publishing is for you.
Some Pros of Vanity Publishing are:
- You get to set a discounted price for your book.
- Your book reaches the market way more quickly than you imagined
- You own the right to set the price and the distribution of the book.
Some Cons of Vanity Publishing are:
- You pay a heavy price for your professional services.
- The chances of earning a livelihood through vanity publishing are low.
- Returns on the book are much less than the price paid by the writer.
A career in publishing is for a person who is a risktaker. Whether you enter as a publishing firm or an author you need to have your survey.
As Legacy/Traditional publishing holds a substantial place. In my opinion, if you choose their platforms you might be able to create a name for yourself.
As traditional publishers edit your work and only agree when you give quality work, your freedom to express gets narrowed. That said, you can publish your work through them to get recongition.
Once you’ve got the recognition, you can always select self-publishing to access more opportunities to get your word out!