Book publishing is at a crossroads. Years of consolidation have led to a few major players controlling the majority of the market. At the same time, publishing has been reluctant to embrace new technologies and techniques, failing to keep up with the needs of a changing audience.

SMERILLO ASSOCIATES believes that the future of the publishing industry lies with small, independent presses that are more willing to think outside the box. With their greater flexibility, innovation and entrepreneurial mindsets, independent presses can experiment with new formats and technologies. Their ability to exploit niche markets will provide the best opportunity for growth.

According to RR Bowker, there are over 80,000 independent publishers in the United States, with 8,000 - 11,000 more getting into the business each year. Because the market is intensely competitive, and profit margins remain traditionally low, small publishers have to be smarter and better if they want to survive and flourish.