The other news from NYC today, besides Hurricane Sandy, is that Random House and Penguin, two of the "Big Six" publishers, are merging, and the NYT article adds that the remaining Big Four are considering mergers, too.
I predict that within a few years the two publishers remaining will issue and aggressively market 6 to 12 books per season. These and any other books they issue, whether electronic or paper, will contain ads or product placements and will be bundled with a related video game. This will allow the prices to be doubled. Ebooks and video games will collect the reader's personal information, and his or her reading and game habits. To read a book you will have to sign a privacy-policy agreement. Reader and gamer information then goes into artificial intelligence which will generate new books and games based on buyer preferences. Ultimately a novel will be a video game only, and the buyer will have the option of inserting himself as a character. People will dress and act like their favorite characters and many of them, given a fiction-writing template, will ultimately write spinoff books giving themselves further adventures.
Until the day that books are written entirely by computers, most writers will work really hard to copy this year's bestseller or prizewinner formula. Ultimately they self-publish, or publish with tiny independent presses, and rather than sell the book they mostly trade books with their self-published friends. These books become a form of business card or greeting card and almost nobody reads them, especially the fiction. Your true friends will be those who have read your book. Writers who still think stranger-readers are important will pay professionals or famous people to read and mention their books.
Then, regardless of quality, education, sales figures or status, everyone will become his own favorite writer, reading his own stuff wherever he goes, and writing more. I think everyone already is his or her own favorite writer. I hear lots of moaning about the death of the industry and the writing profession and quality going down the tubes, mostly from people who want to be other people's favorite writer. The time for that is just about up.