When we look back at this time in history, we will surely mark it as the beginning of the Creator Economy.
This decade–this year–will mark the point at which media tools become robust enough in the hands of writers, video producers, film makers, photographers and other artists to shift the power from publisher to creator.
An author no longer needs the structure of the publishing industry to get his work noticed. He can create his book with online tools and use print-on-demand services to produce a small number of copies, mitigating the risk of financial failure. She can market his book through the 24/7 storefront that is a Website and distribute it through Amazon. And he can gather a significant audience for his ideas via powerful social networks such as Facebook or Twitter or Ning or Zazzle or LinkedIn or Plaxo.
The only thing she cannot do is edit her own work, and for that there will spring up a phalanx of freelance editors to help her see what she cannot see himself.
How will traditional publishers fare in this new economy? Not well. Change is the only way forward.