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  • Book Publishers' Regrets in 2025

    By Joshua Kim April 14, 2010 8:45 pm EDT

    In 2025, when book publishers look back to try to understand why their business became first disintermediated and then displaced, the prevailing sentiment will be one of regret. They will ask themselves: "How did we fail to learn from the example of the music industry and newspaper business? Why didn't we take advantage of new technologies instead of fighting them? How did we manage to fail to create a new generation of book readers and book buyers?"

    Book buyers are not born, they are created. Today's college students will become tomorrow's book buyers only if book publishers invest in nurturing their next customers. Book publishers are not doing this. At some point today's book buying market will age out of the purchasing mode (fixed incomes, more time etc.), meaning that the future of the lending library is bright indeed.

    What Should Book Publishers Do:

    - Sell the Book, Not the Format: Whenever we buy a book we should automatically have the option of receiving the book in all formats. This includes the paper format, the e-book format, and the audiobook format. Understand the need to meet readers where they are. Grasp that the demand for the reading platform shifts across time and place within a single reader. Sometimes I want to read my book on my iPad or Touch, sometimes I want to listen, and sometimes I want to curl up with the paper version. The marginal cost for providing the additional format is trivial compared to the revenue on the book sale. Nor does providing the book in 3 formats for one sale cannibalize profits, as readers do not purchase the same book twice.

    - Integrate the Formats: Book publishers should partner with book sellers to make reading across formats as seamless as possible. Persistent web connection on portable devices (e-readers and audiobook players) should allow dynamic book marks and page progression. If I listen to my audiobook and leave off on page 120, than my e-book should automatically be at page 120 the next time I open it.

    - Sell to the Tribe: The "star system" of book publishing, where a handful of books make enough money to carry an industry, serves nobody well. It does not serve authors, as this system limits the attention of editors to established "brand name" authors and disadvantages niche and specialized books. It does not serve readers, as we get less choice and less quality editing. And it does not serve publishers, as gambling on a few big "hits", and spending massive amounts of money to secure the rights and market the blockbuster represents a Vegas type gamble. Instead, book publishers should bring out more books, and sell these booksto smaller groups of passionately interested readers. Print-on-demand technologies, combined with e-books and audiobooks, will allow supply to meet demand. Book publishers overestimate the power of mass marketing to sell books, and underestimate the potential of social media. Publish what the tribe wants, and let the tribe market your book.

    - Treat Book Readers as Marketers, Not Potential Criminals: Why can't the book publishing industry learn the basic lesson from the record industry that locking down your content (through overly restrictive DRM) is the fastest way to make this content irrelevant? If you offer the book in multiple formats (paper, e-book, audiobook) - a book borrower will be motivated to convert to a book buyer. If someone lends me a book, I'll want to reciprocate and be a lender (and therefore a buyer) myself.

    - Start with College Libraries: Here is my nakedly self-interested plea. Start with the college libraries. Book publishers and book sellers (Amazon), you have the chance to both instill habits of lifelong reading to do engage in some experimentation. Find ways to to allow academic libraries to economically and efficiently build collections that are format universal. If the college library buys the paper book, give them the audio and e-book version. Help them deliver the new formats to their patrons. Hire local college reps (say students) to market the idea that a book checked out from the library can be checked out in any format, and read on multiple devices.

    The grim future of the book publishing industry became clear to me as I began gathering my vacation books. Like many readers, I like to have an abundance of books on hand - and luxuriate in the anticipation of spending every possible moment absorbed in carefree vacation reading. But I will read less, and read with less satisfaction, because each of my books is locked into one format. The paper book will remain trapped between its covers as I walk on the beach, where it could have so effortlessly been transformed into my audio strolling companion. The audiobook will sit neglected on my iPod, instead of accompanying me to my quality time with my iPad. And of the four books I'm bringing on vacation, only two were purchased - as the paper books were checked out of the library. If I'd been given an audio and paper book with one purchase, I would have purchased all four.

    Speaking of vacations, this blog will return on Tuesday 4/27, as I take an extended break from all things productive. Until then, happy book reading.

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Comments on Book Publishers' Regrets in 2025

  • Posted by PRT on April 14, 2010 at 10:30pm EDT

  • The only thing I disagree with here is your assessment of audio books. While on a selfish level I wouldn't mind having the audio book wrapped up in the purchase of the total book, I don't think the book and an audio book are the same in the way a hard copy and electronic copy are the same. I listen to an audio book for the particular performance of the reader, not for the book alone. There are some books I won't read, but will listen to because of who reads the book; there are some books I won't listen to because I dislike the reader. This makes it a very different product than just the book itself. So, while I like the idea of not having to pay an extra 50 bucks to buy James Marster's reading of the latest Dresden File book, I don't mind paying it either--I'm paying mostly for his performance, not the content of the novel.

  • Audiobooks vs Books
  • Posted by Gerrit at Warmdiscovery.com on April 15, 2010 at 5:30am EDT

  • PRT I agree with you. Audio books and books is two different products even thou they cover the same subject. It's a very interesting observation and mist by many publishers.

    I also listen to the audio book format if I like the narrator, but I also listen to the audio version if I want to know fast what the book is all about.

  • Audio Too?
  • Posted by Neil M , Editor at BeWrite Books on April 15, 2010 at 5:30am EDT

  • I tend to agree with the last poster that audio is a slightly different animal.

    Having said that, my own wee house is post-production on our first audio version of a book, previously published, as are all our titles, in treebook and several ebook formats.

    Something to bear in mind is cost.

    Although even small independents are now often geared up to produce digital versions, acceptable audio requires professional actors, studio facilities, specialist editing and very, very different technology.

    Audio is a darned expensive sideline.

    Beswt wishes. Neil Marr. Ed. BeWrite Books.

  • Audio, too, and DRM
  • Posted by Rebecca Hedreen , Library Coordinator for Distance Learning at Southern CT State Univ on April 15, 2010 at 9:45am EDT

  • I have to agree about the audio. For most of us, it's a different product for a different purpose. Plus the additional publication costs make the bundling idea impractical.

    I have two metaphors for DRM and proprietary formats. Since many protected ebooks are only readable on a small number of devices/programs (you can't read a Kindle book on a Nook), you have to keep track of where you purchased a book. It's as if you had to have a separate bookcase for each bookstore you shop in. And, you need a separate lamp for each type of book, too. Maybe you can buy both a floor lamp and a flashlight version, but you still need to have the right one when you want to read a particular book. Right now, all my "lamps" are attached to my "bookcases" (all my proprietary ebooks are still active in the accounts, and so directly accessible on each device or program), but once my collection grows I'll have to archive some things, and then I may be in trouble! (Did I buy that at Amazon or B&N?) Cross platform compatibility, as well as DRM-free files, are crucial for the long term survival of the industry--another lesson from the music industry.

  • Posted by Barbara Fister on April 15, 2010 at 11:00am EDT

  • Starting with public libraries would do more for book culture. Our students love to read, and we have data to prove it, but they say they have too little time to read much by choice. And academic libraries have shrinking book budgets, thanks to the big bite of scholarly journals and aggregated databases; they can't afford to buy many books that students want to read for fun. Lifelong readers regardless of income or educational attainment are created and nurtured at public libraries. They are not legalized piracy schemes, as many publishers seem to think, they are integral to the growth of a reading public.

    Sadly, I think there will be more future regret than forward thinking today in the book industry. When I hear people in the industry (the ones who have power--the older ones) talk about lessons learned from the music industry, they all think it's "we need to lock everything down harder and pass more laws." And that's what their industry organization advocates, too.

  • Two points to clarify...
  • Posted by Mark Berrafato , National Account Manager at John Wiley & Sons on April 15, 2010 at 11:30am EDT

  • Interesting article. I'm not in disagreement with the key points, but I think it's worth noting the following:

    Cost of producing numerous formats to a publisher - Your point that choice in formats will drive purchasing decisions is true, however a publisher has many costs in developing a book - some fixed and some variable. The biggest variable costs are those of the physical book - it must use 3 items that are always subject to variable prices - paper, printing, and binding. Then you have the very expensive costs of inventory and distribution - buildings have to be used to store books, people have to be hired to stock and move them, and a company has to hired to ship them - all VERY expensive costs. So your argument that offering a print option, an E-option and an audio option is no more expensive than simply producing a book is incorrect. As a publisher all the digital and audio formats only become truly affordable and attractive when you can eliminate the physical book costs, especially recognising your point that you often don't buy print books, but rather borrow them anyway.

    The second point I want to mention is in regard to your comment on restrictive DRM. This is the most challenging issue as I see it. We in the publishing industry are very carefully studying what is happening to the music, movie, and magazine industries. When your 'stock and trade' is in Intellectual Property, yes, you want to do everything you possibly can to protect it. However, you don't want to do this at the expense of your customers - we get that. But there are also many of us in the Intellectual Property business that feel strongly that just because a consumer may have the technology to access and take our property without our permission, it's still our right to tell them no, they can't have it without our permission. So how do we do that? I don't know - yet.

    I agree that the book publishing industry is facing huge challenges, fortunately I work for one that is not identifying itself as a book publisher, but rather a producer of 'must have' content for life, learning, and working. We'll figure out a way to get you the content you need, in the format you want, at a price that is reasonable. Stay tuned!

  • audiobooks should be included
  • Posted by Joshua Kim at Dartmouth College on April 15, 2010 at 12:30pm EDT

  • Thank you to the all the people who have contributed to this discussion with your posts.

    I'd still argue that audiobooks should be included.

    My case:

    1. Right now I pay ~$10 per audiobook (Audible Platinum plan). I'd pay $15 if I got all 3 formats. I bet I"m not alone. And I'm not talking about the hardcover. I'd take a cheap, print-on-demand, paper copy.

    2. At $15 for all 3 formats we don't have any cannibalization. Let's say that the deal is only available once books go to softcover. I still think that you have enough profit margin if you gave all 3 formats for the hardcover - and that you'd again drive sales.

    3. The 3 format sell needs to happen if publishers are going to integrate the platforms. An investment needs to be made to insure that the digital book and audiobook integrate - bookmarking etc.

    The other big thing that I think book publishers are missing is how passionate audiobook readers are, and the degree to which they could accomplish your marketing and advertising. (Same thing probably for e-book readers). You will achieve multiples of paper book sales if you get audiobooks into more hands.

    Will have to think about the college vs. public library issue. On DRM - we need to have this debate.

  • I'm with Joshua--Make it easy for the reader to buy/enjoy books
  • Posted by Cherie Dargan , Associate Professor, Communications at Hawkeye Community College on April 26, 2010 at 10:45am EDT

  • I was fascinated by your column because it hits many of my concerns about the book publishing industry. I'm an English teacher who is married to a librarian--we're both geeks, with our laptops and I-phones,and we use Twitter and Facebook to talk about a great article or book we just read. I never thought I would read a book on my I-phone, but I have and enjoyed it. I listen to books on CD all of the time while I am grading--on loan from one of our two local libraries. I can tell you from my husband's perspective that books on CD get a lot of use at public libraries, and even though people can download abn audio book onto their computer, some prefer the books on CD. Even so, when I go on a trip, I still like to pack a couple of "real" books, too.

    While there has been a lot of rather passionate debate about the different formats by other posters, I agree with you. When I buy a book that says I have some additional features available online, I feel like I want to buy more books from that publisher. Making the same book available in alternative formats and packaging them would definitely appeal to many readers who have different needs and tools. I love to re-read a book, and have checked out books on CD that I have already read. As you note, summer travel presents some special challenges--and opportunities for reading and listening--all the more reason for publishers to consider bundling multiple formats into one price.

    I also share your concern about all of the different devices (and formats) now available and it makes me think of some of the platforms of the past. Remember lazer disks from the 1980s? They were like big fat records that were going to transform the classroom with multimedia! Or how about that old beta max vs. VHS player feud? Which one of the current batch of e-readers will emerge as the winner? Should I buy a Kindle, an I-pad, or a Nook?

    While I think your column focused on reading for pleasure, what about textbooks? I have been thinking about using some electronic textbooks--I even fantasized about piloting an e-textbook on an I-pad, but wait. That device is sort of expensive for my students, isn't it? (Of course, in my fantasy, the book publisher GIVES me an I-pad for this pilot. After all, I teach at a community college. But what if I could just use my mini Dell netbook instead?) One of my book reps just stopped to see me last week, and we chatted about this situation. I told her about some of my concerns: after attending a Library Technology conference in March, I am much more cautious about adopting an e-book. Some publishers have their books "expire" in X number of days: if the student needs the book for two semesters, they have to pay for it twice. That makes no sense. Other publishers make it difficult to print or use the book on more than one device. To me, these policies are creating obstacles to using e-books.

    I hope ALL publishers are reading your columns and thoughtfully considering how best to serve our students--as well as all readers. Also, I COMMEND your comments regarding how we can use college libraries to instill reading habits in students. With the economic downturn, budgets are tight everywhere, while demand for library services is higher than ever. Please remember that Public libraries serve college students and avid readers too!

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