Trade publishing refers to publishing books for their authors with the intent of making a profit. Trade publishers tend to be larger than independent or self-publishing houses. They can invest more money into each book they publish, producing higher-quality works which ultimately lead to increased sales and greater returns for all concerned.
Most books published each year are trade books, with most published by one of the “Big Five” trade publishers: Hachette, HarperCollins, Macmillan, Penguin Random House and Simon & Schuster – subsidiaries of large media conglomerates that possess sufficient financial resources to invest in authors and their books.
Trade publishers typically acquire rights for books through an acquisition process known as “acquisition.” An editor at a trade publishing house will read through a manuscript and make an offer directly to either the author (or their agent, if represented) in regards to purchasing their book. They then present this offer directly back to them allowing them to decide whether or not to accept or decline it.
Trade publishing exists to bring quality books to market. In order to do this, publishing houses invest significant resources in editing, marketing and distributing books as well as taking on any potential financial risk associated with publishing an opus; typically these risks will pay dividends when sales occur.
Traditional publishing offers authors many advantages, including having their work seen by a broad audience and receiving professional editing, marketing, and support services. Traditional publishing also allows greater control over the final product for quality assurance purposes; additionally, traditional publishers typically pay out higher royalties than self-publishers or other alternatives. Overall, traditional publishing remains an integral component of the book industry with numerous advantages for authors.