Amazon has purchased the rights to the latest book from best selling self-help guru Timothy Ferriss, in what many are calling its first "major publishing deal."
The e-tailer will begin publishing the book, "The 4-Hour Chef," in digital, print and audiobook starting in April.
Over the course of the past 12 months, Amazon has been moving into publishing, striking deals for imprints covering all genres. Additionally, they hired former Time Warner Book Group CEO Larry Kirshbaum to lead their New York division.
Says Ferriss of his move away from Random House's 'Crown':
Rival publishers are notably scared of the move, with HarperCollins UK's chief executive Victoria Barnsley saying (via Guardian):
Over the course of the past 12 months, Amazon has been moving into publishing, striking deals for imprints covering all genres. Additionally, they hired former Time Warner Book Group CEO Larry Kirshbaum to lead their New York division.
Says Ferriss of his move away from Random House's 'Crown':
It wasn't just a question of which publisher to work with. It was a question of what future of publishing I want to embrace.
My readers are migrating irreversibly into digital, and it made perfect sense to work with Amazon to try and redefine what is possible. This is a chance to really show what the future of books looks like, and to deliver a beautiful experience to my readers, who always come first. I could not be more excited about what we're doing.
Rival publishers are notably scared of the move, with HarperCollins UK's chief executive Victoria Barnsley saying (via Guardian):
Amazon's foray into book publishing ... is obviously a concern. They have very deep pockets and they are now a very, very powerful global competitor of ours. They're this weird thing. We call them frenemies ... They are very, very powerful now – in fact they are getting close to being in a sort of a monopolistic situation. They control over 90% of physical online market in UK and over 70% of the ebook market so that's a very, very powerful position to be in. So yes, it is a concern.
