Sales of print-format scholarly monographs (books) have dropped to record lows. Because of digital technology and financial pressures on academic libraries, the economic model that has supported the publication of print-format scholarlly books has collapsed. The good news is that initiatiaves by scholarly publishers to create open-access scholarly books have the potential to save, and possibly enrich, long-form scholarship. The success of open-access book publishing depends, however, on the willingness of faculty promotion and tenure committees to reward young scholars for publishing in open-access formats.