“The future is here, it’s just not very evenly distributed.” ~ William Gibson
In the midst of this digital publishing revolution, one of
the major questions all publishers find themselves asking is what the future
holds. This was the topic of conversation last Tuesday, at Pearson’s Future of Publishing event at RocketSpace in San Francisco, which I was fortunate to
attend. The event was full of publishers, digital developers, authors and
entrepreneurs, all anxious to hear the opinions of five influential panelists
from different vectors of the industry.
The session was moderated by Nancy Ruenzel, Vice President
of Pearson Technology Group and Publisher of PeachPit. Panelists included Peter
Brantley, Director of the Bookserver Project Internet Archive; Rob Grimshaw,
Managaing Director of FT.com; Matt MacInnis, Founder and CEO of Inkling; and
Eileen Gittins, Founder, President, and CEO of Blurb. Energy in the room was
high as these impressive panelists took the floor to shed some light on the
destiny of traditional and digital publishing. Here are my major takeaways from the event:
When it comes to this
digital revolution, we haven’t seen anything yet.
The first thing that immediately became clear in the
discussion is that “future” is a relative term. Whether we are talking about
the next generation, 3 to 5 years from now, or even today, the definition of
where we are and what the future holds in this revolution depends on who you are talking to. If you
ask a general audience, we all know that we are in the midst of a changing world.
Almost every one of us has some type of smartphone device and a desire to take
content with us at all times. It is clear that we are more plugged in than we
have ever been before. If you ask a publisher, they will tell you that we are
on a brink of a revolution in the way that we deliver content. The
publisher/reader relationship is changing dramatically, and the industry must
adapt accordingly. If you ask an influential developer, the future is
already here.
“We can already do almost anything today, but we don’t do
that yet,” Matt MacInnis stated, “You can’t go so far from the book that you
uphand the way people are used to doing things.”
So what does this mean? The future doesn’t exist in the
devices we hold in our hands today. In fact, the technology that we are fascinated
with now is far too limited for where we are going.
There is
fragmentation in what the future holds for different segments of publishing.
Another thing that became abundantly clear throughout the
conversation was that we are hard-pressed to say that anything can replace the
book.
“If you think about it,” said MacInnis, “the book as a
device is probably the most important IT device ever invented. It is remarkable
that books worked for travel guides, cookbooks, novels, etc.”
The other panelists agreed. Yes, the technology that we have
developed is exciting, and in many ways can be used to replace the book. But
the book will never be entirely replaced. Why? Because some things can just not
be replicated. Even with today’s technology, there are certain specific
situations in which a book is still the most practicable, functional IT device
we have.
The future of publishing largely depends on what vector of
publishing you are looking at. Newspaper publishers have a different fate and
different opportunities than book publishers, or even magazine publishers. We
can already see that these different areas of publishing translate differently
on to the tablet.
Yes, there is a demand for new and exciting products, which
publishers are thrilled and obligated to meet. Fortunately, it is still clear
that as far as the book is concerned, we don’t have to worry about it
disappearing entirely.
The future holds
exciting opportunities, but there are problems to be solved first.
Anyone who has already dived into the world of digital
publishing and released digital content can tell you that this is an equation
we are still figuring out. For one thing, discovering content remains a
huge issue. Yes, you can put your content onto these amazing new platforms, but
it is a remarkable challenge to make it visible to the appropriate, interested
audiences. There is an exciting opportunity to distribute, with lower prices
and at higher volumes, but we are not sure exactly how to do that yet.
This is due in large part to “Amazon/Apple Oligopoly”, which
was one of the major concerns addressed at the session. Publishers and
developers are giving Apple a very large percentage of their profits because of
the limited access to outlets. As it stands today, these platforms pretty much
determine the fate of any one digital asset.
“Publishers have made some mistakes,” Rob Grimshaw said, “We
have been far too passive with major platform providers. We have allowed them
to define the market. The opportunity is there to redefine the space.”
Still, it seems that publishers are still waiting for
someone to solve this equation. How do we interpret the data we have and use it
to make our digital products more visible? How do we interact with our readers
and customers more directly? This is one of the many questions that the future
still holds.
Overall, the Future of Publishing event held at RocketSpace
last week gave remarkable insight into the opportunities and problems that lie
in digital publishing. We are very grateful to Pearson, RocketSpace, the
panelists for taking the time to hold this important discussion. And a special
thank you to Peter Brantley, for turning us on to the event.
Comments, anyone?
Comments, anyone?
Image Credits: girvin.com
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globalmoxie.com
I like reading and it doesn't matter if it's a book, magazine, newspaper, or a gadget. I think there is room for all of it, and it's exciting to see the technology develop. Good, substantive article!
ReplyDeleteWhew- good to see that good old fashioned books will still be around for a long while yet! I was recently given a Kindle Fire, so I'm not a total dweeb, but I have to say that I can't see it replacing "real" books for me any time soon. Esp with children's books- the joy of sitting with a child on your lap, reading together, anticipating the turn of the next page...
ReplyDeleteThat being said, there is definitely a place for digitally published material as well!
It is true that only the surface has been scratched with available technology and more importantly how we use it. I'm still very partial to holding a book in my hands, but I do use other sources to read, as necessary. Thanks, Cameron.
ReplyDeleteI think print books will eventually disappear, except for those in museums and big libraries. I prefer reading on my iPad. Never thought I'd say that, but I do. I can read on it in the dark or bright daylight. I can easily carry 10 books on a trip and carry them easily in my carry-on purse on the plane. I can enlarge the print, if needed. A generation is now being brought up on ebooks. There will be generations after them that will read exclusively on digital readers -- or whatever new contraption appears.
ReplyDeleteAgree with Helen. I've been an iPad convert for two years now and even get all of my magazines on the device, which give me interactive material beyond anything a paper magazine could provide. As tablets and devices evolve, we're going to see even more amazing interactive content.
ReplyDeleteAs long as I have a way to read, I'll figure out how to do it if I have to! Right now, I love my Kindle 3 and my Kindle Touch, but also love print books.
ReplyDeleteI don't care as much to read on my iPhone, because it's too small, also don't care to read on my computer. It's too uncomfortable on the eyes.If they were the only method I could use to read, then I'd do it.
Morgan Mandel
http://morgansbooklinks.blogspot.com
M
It makes my head spin to imagine where technology is taking us next!
ReplyDeleteMaybe traditional publishers will produce their own digital device soon.
ReplyDeleteBargain with the Devil
I still read a lot of books in paper, but I also have a Kindle and find some of the conveniences of an e-reader more appealing. Since I no longer have little kids or even little grandkids, I had not thought of what it would be like to try to read a story to them on a device. There are still plenty of reasons to have books published the old-fashioned way. (smile)
ReplyDeleteChange is the only constant, in life and in digital publishing. We are comfortable with change. We are dynamic, adaptable, perceptive, and not afraid to experiment, so we are well-positioned to ride the tsunami into the future. Thanks for the great précis of the event, Cameron. ~ Rana
ReplyDeleteThis subject continues to be closely studied in print publication world. With the exponential growth of personal computers in the late 1980's and early 90's, the consensus from 'experts' was that commercial printing would be virtually extinct within a decade. In fact, commercial printing not only survived, it flourished beyond anyone's expectations.
ReplyDeleteWe have some confidence that the iPad, et al, revolution will have an impact on traditional print publishing. Notwithstanding effects of the economy, we expect to see some industry consolidation. How much is uncertain, but projections are relatively modest, and the industry as a whole will adapt.
Despite our best guesses and prognostications, the digital realm is moving so fast, it's nearly impossible to look any further than a couple years ahead, much less a decade. Exciting isn't it?!
I'd like to echo what Dani shared word for word...:)
ReplyDeleteThe one thing we can count on is change. Perhaps books can not be replaced because we love what they represent, how they make us feel emotionally and physically when we hold them.This quote says it all for me"the book will never be entirely replaced. Why? Because some things can just not be replicated". Technology provides wonderful and magical short cuts. I am in awe of all that we as consumers have experienced. As we embrace technology, it is key we stay connected as we ride the wave. Staying connected will allow us to be wise while making business decisions that will impact our future and the lens which we view the world.
ReplyDeleteHi
ReplyDeleteMy name is Katherine, a freelance blogger and author. I found your blog interesting
and refreshing and I wanted to ask if you might be interested in a unique, quality guest post on any topic you like with a length of 800 words? Some prior guest post topics I've done include:
1. Careers in Digital Publishing
2. How to Publish Digital Products With PayLoadz?
3. The History & Types of Digital Publishing
You can just tell me what topic you'd like and I'll do my best to write a catchy and interesting article on it. I am a Journalism Major and like to think I can write fairly good quality articles.
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Hello! I am a volunteer researcher upon the topic of digital publishing. I've conducted little thesis by going to several american libraries, schools and colleges, I've noticed there is no doubt that e-books are a bright spot in the dismal economics of publishing. The current market is strong — I've also come to conclusion that one in six Americans now uses an e-reader, and that number will grow as consumers become more comfortable with the technology. There are several online services too, to give the readers and writers the opportunity to have better digital publications. However, when I need I do use www.reproschicker.ch.
ReplyDeleteThank you