I went to an SCBWI conference winter 2011. I met and talked with Rubin Pfeffer and some PB and MG authors. Many PB authors, in training, were given the same grim outlook. Authors were telling me PBs they'd been paid to write were either being totally scrapped or shelved for a year or two. (they got to keep their money
) The word was, those that purchase most of the PB-Libraries and schools, have been purchasing less and therefore PB publications declined and will continue to do so until the market turns around. Mr. Pfeffer told me, although he liked my PB, I needed to prove I was more than a 'one trick pony.' Advice was to write a novel and maybe the PBs could be packaged with the novel. That's when I decided I needed to work on my YA novel. However, a SF novel has pushed it into the shadows. Until this novel is finished, there's no way I'll be able to finish the YA.
Anyway, I've found an artist who will work with me and I like his style for some of my PBs. Will definitely e-publish them when he's done.
As an author you need to be considering all the forms of publication.
print, audio, movie, digital, and especially for children's books-apps.