Traditional publishing is the oldest and most familiar form of publishing. It is the process of working with a publishing house to produce and distribute books. With traditional publishing, a book is acquired by a publishing house, who also take care of the production, marketing, and distribution of the book.
In traditional publishing, the author sells the rights to their book to the publisher for a flat fee, or in some cases, a royalty payment. The publisher then manages the entire publishing process, including editing, layout, printing, distribution, and promotion.
In exchange for taking on all of the financial and editorial responsibilities, the publisher generally keeps the majority of the profits from book sales. However, the publisher also takes on all of the financial risk, so authors can still earn a nice advance to help cover the time and cost of writing the book.
Overall, traditional publishing requires authors to put a lot of trust in their publisher and to let go of some of the control that they would have if they self-published. Traditional publishing is best suited to writers who are looking to write works of a certain length and quality that the publisher is expecting.