Latest updates on the future of publishing

The publishing industry is one of the most dynamic industries I know, with new products and innovations coming almost every week, if not every other day.

Just think about the last couple of weeks, where we saw the release of two new tablets (Kindle Fire and Nook Tablet), significant reduction in the price of e-readers (again the Kindle and the Nook), introduction of Amazon new e-library and a new innovative book publisher (i.e. iPad editions of children's classics), Ideal Binary, raising $1.03 million in venture capital. And did we mention the upcoming Publishing App Expo?

And these are just the tip of the iceberg.. We keep tracking the most interesting stories on our 'future of the publishing' webpage. Here are links to couple of interesting articles we read in the last couple of weeks:

Amazon lending library and the future of digital publishing - Virginia Postrel, The Washington Post, November 13, 2011

Amazon.com Inc. is at it again. To the consternation of much of the book industry, the online giant is again offering digital titles for less than major publishers think books are worth. And this time, the price is zero.

The future of books? Publishing by numbers - The Irish Times, November 11, 2011

BARELY A week goes by without something – a full-page discursive article in a newspaper, a hefty blogpost on an arch American culture website – declaring the death of publishing. “Books are doomed. Doomed I tell you!” is the general gambit of these pieces, but many don’t share that view. At a time when books are engaged in a paper-versus- electronic tussle between physical copies and e-reader editions, at least people are still reading.

The Future of Publishing - Rocky Lewis, November 11, 2011

Let's talk about the future of publishing. This conversation usually looks like a self publish vs. traditional publish debate. I believe that is not the “bunny” we should all be looking at behind the camera.

Our relationship with e-books: It's too complicated - Mathew Ingram, GigaOM, November 1, 2011

One of the best things about media going digital is that it can be easily shared and distributed to others with just a click — except of course that it often doesn't work like that, thanks to copyright or licensing restrictions and competing platforms. E-books are a great example:

Epstein on the future of the publishing industry - Sophie Rochester, The Frankfurt Book Fair Blog, October 12, 2011

Jason Epstein has had an incredible career in books – co-founder of the New York Review of Books, a long-standing and lauded editorial career working with literary stars such as Mailer, Nabakov and Roth, and a pioneer in the 1950s when he created a whole new category of book publishing – the Trade Paperback. Most recently he has brought us the Espresso Book Machine – named by Time magazine as Invention of the Year in 2007 – which now gives retailers, libraries and other institutions the chance to offer readers a much wider choice of reading through a print on demand service.

Enhanced E-books and the Future of Publishing - Peter Osnos, The Atlantic, October 9, 2011

Enhanced e-books are thought to be the next major threshold in the digital book universe. We are still in the very early stages of the development and availability of these books, which contain audio and video features. An informal count of enhanced e-books, according to a publishing executive who is following the field closely, numbered about one thousand available on a variety of devices.

Will book publishers be able to maintain primacy as ebook publishers? - Mike Shatzkin, The Shatzkin Files, October 4, 2011

Here’s an assumption that is not documentable; it is my own speculation. I think we’re going to see a US market that is 80% digital for narrative text reading in the pretty near future: could be as soon as two years from now but almost certainly within five. We have talked about the cycle that leads to that on this blog before: more digital reading leads to a decline in print purchasing which further thins out the number of bookstores and drives more people to online book purchasing which further fuels digital reading. Repeat. Etcetera.

For more updates visit our Future of Publishing webpage at http://www.ecolibris.net/publishing_future.asp

Photo credit: marklarson, Flickr Creative Commons

Yours,
Raz @ Eco-Libris

Eco-Libris: Plant a tree for every book you read!

The future of Publishing - a talk with media industry expert Scott R. Singer

Scott R. Singer has spent the past 20 years advising companies on how to adapt to change, to embrace technological advances, and to put the best strategy in place to deal with the next big thing—essentially, teaching them how to hit curveballs. Therefore we thought he is the right person to speak with on the changes that the book publishing industry is going through.

Scott, a noted media industry expert, investment banker, strategy consultant and the author of HOW TO HIT A CURVEBALL: Confront and Overcome the Unexpected in Business, join us for an interesting conversation on the future of publishing. Here it is:


What is the influence of the launch of the iPad on the book industry?
I think the iPad's launch is a game changer. Not only is it a fantastic Internet surfing, photo storing, app powered, movie viewing device, but it's also a powerful iPod with a gorgeous screen, functionality, and e-reading capability. The iPad opens the door for full color books and magazines to jump into the digital reading sphere.

Do you think the trend of transforming from print to digital is currently no more than just a hype when e-books sales are less than 2% of the market?
Clearly, not everyone will want to read books or magazines in a digital format. There is still high demand and great pleasure derived from reading materials in printed form. That said, a large and growing base of consumers are on the go, looking for more convenient ways to consume
the content they enjoy, and like the eco-friendly nature of an e-reading device.

It is important to keep in mind though that for the most part, every child that's born is "digital" and every elderly person that passes away is "analog." As a result, we are experiencing the third
tectonic shift in traditional media - first music, then video, now print. My middle school-aged children don't have printed text books. They are all electronic.

What is your advice to bookstores, both independent and big chains, who look for innovative models that will help them to thrive in the digital age?
Bookstores need to reinvent themselves as centers of learning and brand development for the content industry. They can be the social hub of all types of media, not just print. By realizing that a portion of their retail sales are likely to be disintermediated by digital content, they
should focus on ways to keep customers coming to their establishments and offer them products that can be consumed in such a manner.

Bookstores are still a place to browse, socialize, and share ideas. They're not libraries, so you don't need to keep quiet. You can drink coffee, meet friends, and buy many things. Not just books.

What's the potential of the e-book market in the next 10-15 years?
There are many projections concerning the penetration of tablet devices. It is my view that there is a huge market for a device that can fill the gap between full computing and a PDA. The more content that's available, the greater the potential. And by that I mean magazines,
newspapers, and text books, not just consumer fiction and non-fiction books.

It is clear that newspapers in a printed form are headed the way of the dinosaur. That industry needs to embrace this change and redesign its business model to deliver valuable, hyper local content in a form its consumers want. No one else is better at reporting on high school sports, the goings on at town hall, or issues facing local school boards.

Do you think the publishing industry can actually gain from the cannibalization of physical books market by e-books?
TV was supposed to kill radio, VHS tapes were supposed to kill TV, and the Internet was supposed to kill them all. But that's not what happened. More content is being created on more platforms and consumed to greater degrees than ever before. I think the publishing world will
thrive in this environment, especially if it is able to deliver more quality products at lower costs, not to mention in shorter production times.

Do you think the publishing industry can actually gain from the cannibalization of physical books market by e-books?
TV was supposed to kill radio, VHS tapes were supposed to kill TV, and the Internet was supposed to kill them all. But that's not what happened. More content is being created on more platforms and consumed to greater degrees than ever before. I think the publishing world will
thrive in this environment, especially if it is able to deliver more quality products at lower costs, not to mention in shorter production times.

Do publishers still have the same added value in the age of POD (print on demand) and social media?
The need for the curatorial and editing skills publishers bring are even more important in the digital world when anyone with Internet access can essentially be a published journalist/author. We as consumers will rely to an even greater extent on our media brands to help us sort through
the online clutter.

Finally, we are going to celebrate Earth Day tomorrow - what should be done to make the book industry more eco-friendly?
Well, the e-reader is perhaps the best answer to saving trees and lowering the use of fossil fuels and reducing emissions. Fewer trees will need to be cut to make books, newspapers, and magazines. Fewer chemicals will need to be mixed to create ink. And fewer trucks will
need to roll to deliver these physical products assuming e-reading grows to the levels many expect. A great result for our planet overall.

Thank you, Scott.

Scott R. Singer is the author of the recently published HOW TO HIT A CURVEBALL: Confront and Overcome the Unexpected in Business (Portfolio 2010). A Managing Director and Head of Media & Entertainment at The Bank Street Group, Singer has more than twenty years experience in investment banking and strategy consulting. He previously held positions at BMO Capital Markets, Deloitte, and Bear Stearns. He lives in New York City and Connecticut. For more information on Scott's new book, see http://www.hitacurveball.com.

You can read more updates on the future of publishing on our website at http://www.ecolibris.net/publishing_future.asp

Happy Earth Day!
Raz @ Eco-Libris

Eco-Libris: Promoting sustainable reading

The future of publishing and bookstores - updates from last week

We are closely following the interesting discussions on the future of publishing, bookstores, magazines and the paper industry in general. Our interest in these shifts are mainly to see how environmental and social issues are been integrated into the future of the book industry. We believe that we will see these issues taken into consideration not just as a form good doing, but also and mainly as business opportunities.

We have created special webpages on our website with updates and resources on the future of publishing, bookstores and magazines and soon we'll have a webpage for the future of paper as well. Not only that, but from this week. we'll update you every Sunday with the latest interesting discussions, articles, lectures and debates that took place last week. So, here we go:

The Future of Publishing:

The Future of Publishing - Ben Werdmuller von Elgg, April 18, 2010

Thanks to everyone who came to Intersection: Publishing yesterday. Our fascinating round-table discussion was cut off far too soon: I think we could have gone on for days and only barely covered the issues. It's clear that an open conversation that treated publishers, authors, readers, technologists and lawyers as equals was long overdue. (Missed it? Watch this space.)

The Future of Publishing - by PastorGear.com, April 14, 2010

There's been a lot of talk about how the iPad is the future of publishing and that's probably true. People point to the various newspaper and magazine apps for the iPad as examples of where the industry is heading. To be sure, a lot of those apps are very strong and I'll be reviewing them here in coming days but to see what publishing is really going to looking like in two years you're going to need some help from Woody and Buzz.

We would also like to recommend an interesting talk of Richard Nash(Cursor Books) on BNC Technology Forum 2010 that took place last month and was entitled: Publishing 3.0: Moving from Gatekeeping to Partnerships

The Future of Bookstores:

The bookstore in a future full of iPads - iPad Watcher, April 12, 2010

I love reading books and I love shopping for them. Okay, let me rephrase that. I love browsing through a bookstore, but I rarely buy a paper book these days, always preferring the digital version if one is available. This duality of feelings and the certainty of the inevitable demise of the paper book in the future makes me a bit sad each time I go to a good bookstore.

Yours,
Raz @ Eco-Libris

Eco-Libris: Promoting sustainable reading

Cartoon: Alan Moir, The Sydney Morning Herald

A great video on the future of publishing

Here's a clever video prepared by the UK branch of Dorling Kindersley Books and produced by Khaki Films. We like it and we hope that you'll enjoy it as well:



Here are some more details about it from its YouTube's page:
This video was prepared by the UK branch of Dorling Kindersley Books and produced by Khaki Films (http://www.thekhakigroup.com/). Originally meant solely for a DK sales conference, the video was such a hit internally that it is now being shared externally. We hope you enjoy it (and make sure you watch it up to at least the halfway point, there's a surprise!).

Read an interview with the creator of the video on the Penguin Blog: http://bit.ly/futureofpublishing. The clip was inspired by a video created by an Argentinean agency, Savaglio/TBWA entitled Truth:
http://www.youtube.com/watch?v=lFz5jbUfJbk

If you're looking for more resources on the future of publishing, please check our 'Future of Publishing' webpage at http://www.ecolibris.net/publishing_future.asp, where we share with you some of the most interesting articles, posts, updates and news we find on this issue.

Yours,
Raz @ Eco-Libris

Eco-Libris: Promoting sustainable reading!