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The difficulty of publishing an old-fashioned book

According to Brian Hill & Dee Power, authors of "The making of a bestseller", there are about 490 new titles are now published every day in US. However, it is believed that less than 1 in 100 books that are submitted for publication actually end up in the print; some experts place it at 1 in 1,000 books.
This difficulty come from the financial bottom-line. It has been estimated that only 10% of books published ever end up selling enough copies to earn back the advance paid to the author.
There are 24 million people in the US describe themselves as creative writers, but less than 5% of these writers have ever published - the old way, that is.

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