An open letter to his readers appeared on Stephen King's official website Friday that has far-reaching implications for the publishing industry. Since Riding the Bullet, he has been eager to try something similar. Creative people should be paid for their work, King writes, just as plumbers and carpenters and accountants are paid for theirs. He said he'll cease publication if too many people steal the story. But I just don't believe that will happen.
King finishes up by asking.
King appears to be picking up the torch raised last November by Jason Epstein of Random House. At the time, industry executives were skeptical. In fact, in March, Stephen King's own agent, Ralph Vicinanza, said in Publisher's Weekly that King had no desire to become his own publisher. In light of King's newest Internet venture, Epstein predicts that in the electronic future publishers and authors will have to agree upon an equitable distribution of proceeds reflecting their respective contributions which will bear little resemblance to traditional formulas. Welcome to it, Stephen, look around and find out what many of us have been doing here for the past few years.