There's a number that rarely makes it into author conversations, but it should. Last year, the Big Five traditional publishers—Penguin Random House, HarperCollins, Hachette, Simon & Schuster, and Macmillan—collectively spent approximately 2% of their revenue on marketing trade books.

Two percent.

For context: that's roughly $650 million spent on marketing across $32.5 billion in total industry revenue. But the real story is worse than that headline suggests, because that 2% is spread across thousands of titles, which means the median book gets almost nothing.

Here's what this actually means for you, whether you're with a traditional publisher or considering hybrid publishing: the expectation that your publisher will market your book is one of the most dangerous fantasies in publishing today.

And understanding why takes us through the economics of traditional publishing, the consolidation that created these incentives, and ultimately, why a different model exists.

The Big Five's Math Problem

To understand why publishers spend so little on marketing, you need to see their cost structure:

Where Publisher Revenue Goes

A Big Five publisher's revenue breaks down roughly like this:

• Author advances & royalties: 10-15% of revenue
• Editorial, design, production: 8-12%
• Printing, binding, distribution: 15-20%
• Overhead (rent, staff, systems): 25-35%
• Retailer discounts (what bookstores pay): 40-50% reduction from cover price
• Operating profit: 5-15%

Notice what's not in that list? A dedicated marketing budget for midlist titles.

Why They Don't Market Most Books

Here's the brutal economics:

A traditional publisher invests roughly $25,000-$50,000 in advance money to a first-time author upfront. Then add editing, design, production, and basic distribution costs—another $30,000-$50,000.

For that $75,000 investment to break even, the book needs to sell:

• At least 3,000-5,000 copies at typical author royalty rates
• More if retail and distributor discounts are factored in

A meaningful marketing campaign—real ads, influencer outreach, media placements—costs $10,000-$50,000+ and is not guaranteed to move the needle.

From a publisher's risk perspective: Should we spend another $30,000 on a book that already has us $75,000 in the hole? Most say no.

The Exception: Bestseller-Tier Authors

If you already have:

• 100,000+ social followers
• A proven platform (speaking, podcast, existing audience)
• A guaranteed marketing budget of your own
• Celebrity backing or media momentum

Then yes—publishers will invest. You'll get ads, a publicist, bookstore placement support.

But that describes less than 1% of debut authors.

For the other 99%? You get distribution (your book is in the Ingram catalog), a modest cover, and an ISBN. You do not get a marketing strategy.

The Consolidation That Created This Problem

This wasn't always the case. Understanding how we got here requires a brief history of publishing consolidation.

The Mega-Publisher Era

In the 1990s and early 2000s, publishing was far more fragmented:

• Dozens of medium-sized independent publishers
• More competition for titles
• More willingness to invest in diverse author voices because there was room to take bets

Then came the consolidation:

• 1998: Penguin and Random House merged (creating PRH)
• 2004: Simon & Schuster acquired Pocket Books and other imprints
• Over the next 20 years: massive consolidation until we arrived at the "Big Five" model

What Consolidation Changed

When there were more publishers, each fought for market share. Marketing was a tool to win mindshare. When consolidation happened, the incentive shifted:

• Fewer competitors meant less pressure to invest heavily in discovery
• Larger lists meant publishers could rely on backlist sales and bestsellers to anchor profitability
• Retailer consolidation (mainly Amazon) meant publishers negotiated with fewer buyers

The modern Big Five publisher optimizes for bestsellers, backlist, and cash flow—not for launching new voices.

The 19% Problem

Here's another number that matters: 19% of books published by the Big Five sell 12 copies or fewer in their lifetime.

Let that sink in.

Nearly one in five traditionally published books sells fewer than a dozen copies. Most of those authors invested years writing, querying, getting rejected. Then they finally got an agent, an agent pitched to publishers, and after a year or more of waiting, they got a deal.

And then their book died quietly.

Why?

Because the publisher acquired it, allocated it a standard advance, printed it, distributed it, and then moved on. There was no sustained marketing effort. No publicity push. No strategy to find readers. The book was simply one of hundreds of titles that month, competing for shelf space and Amazon real estate with no amplification.

This is the reality that most agents and publishers won't say directly to debut authors: traditional publishing is a lottery where the odds are published to be poor.

What Publishers DO Spend On

If only 2% goes to marketing books, where does the rest go? Understanding this reveals the publisher's actual priorities:

1. Celebrity & Bestseller Marketing

The bulk of that 2% goes to books that are:

• Already bestsellers (feeding momentum)
• By celebrities or known authors
• Books that anchor the season's catalog

A high-profile memoir by a TV star might get $50,000-$100,000 in coordinated marketing. A debut novelist? They might get $2,000-$5,000 if they're lucky.

2. Category-Specific Pushes

Publishers occasionally push categories that are trending:

• Romance saw a surge in marketing investment as BookTok drove sales
• Self-help got more attention as wellness became profitable
• Political memoirs get attention during election seasons

But this is still selective and based on trends, not author potential.

3. Trade & Relationships

Publishers spend heavily on:

• Relationship-building with bookstore buyers
• Ingram and distributor partnerships
• Publisher catalogs and sales tools
• Wholesale outreach to libraries and institutional buyers

This is real work, but it's not the same as marketing your specific book.

4. Digital & Amazon Optimization

Publishers invest in:

• Amazon advertising (modest budgets, usually $5,000-$15,000 per book for select titles)
• Email list management
• Website and catalog hosting

Again—this benefits the most profitable titles, not the midlist.

The Honest Publisher Math

If you're in a Big Five house and wondering why your publicist isn't calling with media placements, or why your book didn't get an ad buy, here's the real reason:

You are not economically important to the publisher.

This isn't personal. It's structural.

Your publisher likely acquired your book as part of a portfolio bet: "We'll sign 40 debut authors, and 2-3 of them will breakout and subsidize the others." The remaining 37-38 are there to:

• Diversify their catalog
• Maintain relationships with agents
• Occupy shelf space and mind-share
• Capture any organic word-of-mouth or algorithmic luck

But not to receive substantial marketing investment.

Why Hybrid Publishing Is Different (And Where the Economics Differ)

This is where the model matters.

In hybrid publishing, the economics are aligned differently:

• The publisher doesn't invest tens of thousands in an advance (reducing upfront risk)
• The author invests $10,000-$40,000 directly
• Because both parties share in the upside, there's more incentive to market

When a hybrid publisher builds an in-house PR team, as The Agency at Brown Books has, the incentive is clear: your book's visibility is our revenue.

A traditional publisher's incentive is: your book's sales matter only if they're exceptional.

A hybrid publisher's incentive is: your book's visibility feeds our reputation and future business.

This doesn't mean every hybrid publisher will aggressively market every book. But it does mean the economic foundation is different.

What This Means for Your Publishing Decision

If you're choosing between traditional and hybrid publishing, factor in this reality:

Traditional Publishing Makes Sense If:

• You have a substantial platform (100,000+ followers, speaking circuit, existing audience)
• You're in a category publishers are currently investing in
• You can handle the 18-24 month wait and uncertainty
• You're willing to accept that your publisher probably won't spend significantly on marketing

In other words: traditional publishing makes sense if you're willing to do most of the marketing yourself anyway, and you value the distribution, prestige, and advance money.

Hybrid Publishing Makes Sense If:

• You want more control over timeline and positioning
• You're willing to invest upfront in a partnership model
• You want alignment between your success and your publisher's incentive to promote
• You're building a professional or speaking platform where the book is a tool, not the primary revenue

In other words: hybrid publishing makes sense if you want a partner, not just a distributor.

The Real Question Authors Should Ask

Stop asking: "Will my publisher market my book?"

Start asking: "What is my publisher's actual incentive to market my book, and does that align with my goals?"

For most Big Five authors, the honest answer is: "Their incentive is minimal unless you're already successful."

For hybrid publishers, especially those with in-house PR teams, the answer is: "Their success depends on your visibility."

Neither model is inherently good or bad. But understanding the economics changes everything about how you approach launch strategy, timeline expectations, and your role in creating visibility.

You are not your publisher's responsibility. You are a business line item.

The sooner you accept that, the sooner you can build a sustainable visibility strategy that doesn't depend on someone else's investment decision.

The Agency at Brown Books exists because we believe authors deserve a partner whose incentives are aligned with their success. That's not a marketing pitch—it's the structural difference between a publisher whose profit depends on exceptional outliers, and a partner whose profit depends on your visibility.