By Guy Adams
Who needs publishers? Not James Franco, the artsy Hollywood star, who has just signed a deal to write his first novel; and not Amazon, the vast online retailer which beat the traditional giants of the industry to secure the high-profile author.
Franco, 33, has become the latest in a string of big names to join the increasingly glamorous stable of authors now on the payroll of Amazon. According to reports, his book, which has the working title Actors Anonymous, will be loosely based on his career in the film industry.
The deal, which was reported yesterday but has yet to be formally confirmed by either side, represents an ominous development for the industry, which in recent months has seen similar deals signed by the likes of New Age “guru” Deepak Chopra, self-help writer Timothy Ferriss, and the actor and director Penny Marshall.
For years, the rise of Amazon, which heavily discounts books, has been eating into the once luxurious profit margins enjoyed by mainstream publishers. There are therefore growing fears that the online giant could soon send their industry the way of the high street bookstore.
Since it was unveiled last year, Amazon’s publishing arm has launched an array of imprints majoring on genres from science fiction to romance, and has already released more than 100 new titles, in hardback, paper back and electronic formats. It has also shown itself willing to pay huge sums to secure the services of what it considers to be the stars of the writing profession, using aggressive charm to woo them from the clutches of their former houses.
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