Friday, September 16, 2011

The Economist: "Great Digital Expectations"

The Christian Science Monitor jumps off the bookwagon, too.

Great digital expectations. (The Economist, 9/10/2011)

Excerpt:   To see how profoundly the book business is changing, watch the shelves. Next month IKEA will introduce a new, deeper version of its ubiquitous “BILLY” bookcase. The flat-pack furniture giant is already promoting glass doors for its bookshelves. The firm reckons customers will increasingly use them for ornaments, tchotchkes and the odd coffee-table tome—anything, that is, except books that are actually read.

In the first five months of this year sales of consumer e-books in America overtook those from adult hardback books. Just a year earlier hardbacks had been worth more than three times as much as e-books, according to the Association of American Publishers. Amazon now sells more copies of e-books than paper books. The drift to digits will speed up as bookshops close. Borders, once a retail behemoth, is liquidating all of its American stores.

Having started rather late, books are swiftly following music and newspapers into the digital world. Publishers believe their journey will be different, and that they will not suffer the fate of those industries by going into slow decline. Publishers’ experience will, indeed, be different—but not necessarily better.

In some ways the transition from paper to digital distribution is a boon. E-books currently have high profit margins, and are free from many of the drawbacks of print. Peter Osnos, the founder of PublicAffairs Books, says the biggest challenge small publishers face is managing their inventories. Print too many books, and lots of them will be returned by stores. Print too few and publishers will forgo sales while they order reprints (at higher prices). None of these problems exists when distributing books digitally
.

Donna Hayes, chief executive of Harlequin, 
says digitisation has given new life to old books.



Yet these advantages are outweighed
 by several looming hazards. The first is piracy.


Link to March 1, 2010, New York Times article, "Math of Publishing Meets the E-Book".


...the gradual disappearance of the shop window.

Related posts:
Lev Grossman presents a short history of the reading device..  (9/6/2011)
Speaking of gadgets, here's the latest iteration of ebooks.  (8/25/2011)
Sounds like another digital divide in the making.  (7/30/2011)
Libraries and ebooks:  Any book, not any time soon.  (6/1/2011)
On the distinction between the book reader and the book owner.  (5/10/2011)
Demand for ebooks grows exponentially in Wisconsin.  (5/2/2011)
Struggling to find an ebook common agenda between libraries and publishers.  (4/5/2011)
Ebooks and libraries:  "The challenges just keep piling up".  (3/28/2011)
Publishers Weekly tracks ebook sales.  (3/18/2011)
Word is getting out:  Ebooks @ your library.  (3/18/2011)
Ebooks continue to gain market share.  (3/17/2011)
Publishers look to bottom line in formulating ebook policies for libraries. (3/15/2011)
News stories on HarperCollins ebook decision go mainstream.  (3/5/2011)
9 years of book sales:  trade and ebook.  (2/17/2011)
Will ebook readers be wooed by Barbara Cartland?  (2/12/2011)
The impact of ebooks on libraries.  (2/11/2011)
OverDrive news release: Library eBook circs up 200% in '10. (1/10/2011)
Mashable: 5 ebook trends that will change the future of publishing. (12/29/2010)
Christmas 2010 the tipping point for ebooks?  (12/24/2010)
Ereader as brown paper bag.  (12/9/2010)
The ebook reader compatibility surprise.  (12/3/2010)
Ereader ownership:  Survey says....  (11/30/2010)
David Carnoy asks, "Does the Kindle pay for itself?" (11/29/2010)
Need to repair that ebook reader?  (11/19/2010)
Who uses an ereader:  Survey says....  (9/22/2010)
Book industry wrestles with print vs. pixels.  (9/2/2010)
Coming soon to a screen near you:  Ads in ebooks.  (8/20/2010)
Ebooks now comprise 8/5% of book sales. (8/12/2010)
Genre paperback publishers drops print.  (8/6/2010)
Ebooks and libraries.  (5/4/2010)
Ebooks eliminate a free form of adversiting:  the book jacket.  (3/31/2010)
Ebooks: another round of false promises?  (3/19/2010)
The skinny on ebooks.  (3/8/2010)
Hardcover vs. ebook:  Breaking down the costs.  (3/1/2010)

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