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February 29 2012

The ebook evolution

At TOC, you're as likely to run into media professionals, entrepreneurs and innovators as you are publishers, booksellers and others working in traditional publishing. This, in turn, makes the underlying themes as varying and diverse as the attendees. This is the final piece in a series taking a look at five themes that permeated interviews, sessions and/or keynotes at this year's show. The complete series will be posted here.


Discussions about the future of digital and how ebooks and ereading may evolve permeated nearly every aspect of this year's show. From data on how readers are acquiring and consuming ebooks to genres that are working well — and those that aren't — to platform and format trends and predictions, the evolution of ebooks and ereading was probably the most pervasive of the major themes at TOC 2012.

Len Vlahos, executive director of the Book Industry Study Group, and Kelly Gallagher, vice president of publishing services at RR Bowker, led the "Data for Consumer Attitudes Toward E-Book Reading" session. They presented data on how consumers are adopting and consuming ebooks.

An interesting slide provided a visualization of the technology adoption curve in the U.S. between 1910 and 1999:

BISGslide1

The text may not be readable, but the message is clear — as explained in the presentation:

"The X axis is time, the Y axis is percent penetration of U.S. households. The squiggly blue line all the way to the left is the telephone. The two red lines in the middle are television and color television. You can see in the case of almost every technology, a slow ramp up, followed by explosive growth leading to almost total penetration. When utility surpasses earlier technologies and when production capacity increases and cost decreases to a sufficient point, the line curves up."

They then compared this to what is happening with ebooks. Some genres followed the exploding path while others flattened out. Fiction clearly is leading the ebook evolution at this point:

BISGSlide2

The ebook questions in 2012, they said, will include how much more growth in fiction is possible, when will the other genres get moving and what kind of role is technology actually playing in adoption. The presentation also included data about ebook power buyers, the patterns of buying in general and the roles children and youths might play in the future of ebooks.

The slides, along with a transcript of the presentation, can be found here.

Michael Tamblyn, executive vice president of content, sales and merchandising at Kobo, Inc., specifically addressed digital non-fiction — or the lack thereof — in the "Cracking the Non-fiction Code" session. Tamblyn noted that the split in fiction/non-fiction print is about 55/45, respectively, but that in digital, even after several years in, the fiction/nonfiction divide is "abysmal":

TamblynSlide1

Tamblyn talked about the reasons behind the discrepancy and looked at the percent to which digital over or under indexes print consumption:

TamblynSlide2

Looking at the reasons behind the inequalities, Tamblyn said there are some commonsense reasons — the gift economy around children's books, for example, skews toward physical, print books, as do juvenile categories in libraries — but that there are other reasons why genres such as travel, reference and cooking are indexing more toward print than digital. These publishing areas, for instance, have the added component of free online competitors, such as TripAdvisor.com and AllRecipes.com.

He highlighted the non-fiction pricing versus unit sales, which indicates that, so far, "digital non-fiction is a backlist business, to a degree far greater than what we see on the fiction side":

TamblynSlide3

Tamblyn said he's been encouraging publishers "to start digging into that backlist non-fiction catalog, get more of those title made more quickly ... get those rights cleared and get those books out — they have a longer life than you may think."

He also said there are great opportunities around the gift economy in children's books — that the gifts are shifting from physical books to reading devices, indicating digital opportunities going forward and explaining a spike in ebook sales after the holidays. He suggested developing a reading device specifically for children to optimize the reading experience for that level may help push adoption forward.

Tamblyn's session slides can be found here, and more from Tamblyn on what ereader customers want can be viewed in this TOC webcast.

The ebook evolution discussion took a turn toward the technical side in a video interview with Peter Meyers, author of “Breaking the Page: Transforming Books and the Reading Experience” and "Kindle Fire: The Missing Manual." He tackled a question about ebooks versus book apps and whether the forms would merge or one would become dominant:

"I think a lot of people in the industry get hung up on this question of what's the term we're going to use going forward. If we look at the music industry, the terms 'record' and 'album' have stuck around, even as the physical format has largely disappeared. I think the word 'book' is here to stay ... I think the other term likely to emerge is 'app' ... We'll start saying, 'Hey, have you seen the new Stephen King app?' That app might include book-like elements, but it will also be able to accommodate things like interactive features ... I would guess we'll see books and apps coexist side by side, and they'll do different things."

Meyers also talked about how digital is changing publishing over all, that with the infinite canvas of digital publishing, what publishers really are selling is 10, 15, 20 hours of entertainment or assistance in cooking or playing golf. His entire interview can be viewed here.

Sameer Shariff, founder and CEO of Impelsys, agreed in a video interview that ebooks and book apps would both continue as separate products. He also addressed a question about platforms and how the need for conversion will evolve:

"What we're seeing is [that the need for conversion] is not going to dissipate ... [publishers] can't do it themselves ... Now the big thing is EPUB3, and with the Apple iBookstore, there's a new format there. It's not going to be completely automated — there is going to be some element of manual intervention."

Shariff's entire interview can be viewed here.

Along that same line, Sanders Kleinfeld, publishing technologies specialist at O'Reilly, tackled the question of whether or not the industry will see a universal format emerge:

"I'm really optimistic, and I really hope so. I think that's what they're striving for with the EPUB3 standard, which is based around all these open technologies — HTML5, CSS3 and JavaScript. I'm hopeful that ereaders will follow suit with what's been happening on the web, where you can build an HTML5 website and there's pretty good compatibility across the board, whether you're looking at it in Google Chrome or Safari or Firefox. I'm really optimistic that EPUB3, or the next generation — maybe EPUB4, will be the open standard that re-flowable ebooks will coalesce around using open technologies and that that will be supported by the various ereaders."

You can view Kleinfeld's entire interview in the following video, and you can see slides from his session "HTML5 for Publishers" here:

For more on the ebook evolution discussion, sessions with published slides and/or video can be browsed here.


If you couldn't make it to TOC, or you missed a session you wanted to see, sign up for the TOC 2012 Complete Video Compilation and check out our archive of free keynotes and interviews.


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Reposted bypstmn pstmn

February 28 2012

February 27 2012

Business models to monetize publishing in the digital era

At TOC, you're as likely to run into media professionals, entrepreneurs and innovators as you are publishers, booksellers and others working in traditional publishing. This, in turn, makes the underlying themes as varying and diverse as the attendees. This is the second in a series, taking a look at five themes that permeated interviews, sessions and/or keynotes at this year's show. The complete series will be posted here.


As traditional publishing is more and more disrupted in the digital era and deeper and deeper discounts in digital publishing become the norm, big questions about revenues — and where they'll come from — arise. Monetization was a major theme at this year's Tools of Change for Publishing conference. Discussions covered a variety of business models suited to monetize content, including subscription/access, freemium, and ad-based models, and models for moving the focus away from the books themselves to monetizing services, experiences and relationships with customers and readers.

In a keynote address, Andrew Savikas, CEO at Safari Books Online, talked about lessons learned at Safari and why digital subscriptions and access models matter for publishers.

"There are two reasons why subscriptions matter now for books more than they did 10 years ago when Safari first got started: First, we all know readers are much more comfortable with digital reading and other digital media. The percent of adults who own an ereader or a tablet doubled this Christmas — nearly 48% of adults in the U.S. own a tablet, an ereader, or both.

The second reason subscriptions matter more today has to with something Kevin Kelly talked about last year — the shift toward streams of information ... Streaming models are an important alternative and complement to purchase models, and consumers are growing more comfortable with them ... There's a growing product and service economy around access and membership models that reduce the up-front costs associated with things like buying a car; hiring an assistant; or buying enough music, movies or books to build a great library. In addition to reducing the up-front costs, subscription access models also offer on-demand convenience."

Savikas talked about what ebook subscription models look like and with what kinds of books such models work best. He said the model will work with more kinds of books than it's currently used and outlined three reasons publishers should consider the subscription/access model:

SafariSlide

He broke down the payment model and explained how — and why — it can be profitable. He said, "When a book is sold at retail, the publisher and the author get the same amount whether the book is read once, twice or 100 times. In a usage-based model, the publisher is paid only for what people actually read — but, they're paid every single time that page or book is read." Savikas said that at Safari, it's rare for readers to read books cover to cover, but pointed out that it's the aggregate behavior that matters and that brings in the revenue.

Savikas' presentation slides can be found here, and his entire keynote can be viewed in the following video:

Justo Hidalgo, co-founder of 24symbols, addressed the issue of monetization from a freemium model standpoint in the session "New Ways to Sell — Aggregated Content, Paywalls, Subscriptions, and More." He argued that just having free content or paid content alone is not enough — people aren't going to pay for content, he said, unless you have "extremely high-quality, differentiated content," as the Financial Times has, or you have "impressive brand recognition," as the New York Times has.

JustoSlide1

With a freemium content model, the reader gets something for free with the opportunity to get more content, services or a better experience for a price. Hidalgo shared an example from his company's model:

JustoSlide2

Hidalgo's presentation slides can be found here, and more of his thoughts on freemium, paywalls and subscription models can be found in this TOC interview.

The panel session "The Future of the Cookbook" addressed monetization specifically from a cookbook-genre standpoint, but the overall points could easily apply to other areas of publishing. Some monetization ideas that came out of the session included allowing advertising inside ebooks and finding sponsors or co-branding books, and also included subscription-based possibilities, as Andrew Savikas discussed in his keynote. Here are some of the major points the session addressed in the area of monetization:

CookbookSlide

The ideas of chunking — in this case, selling individual recipes — and bundling could be monetized in many genres of publishing. And as Savikas noted in his keynote, the subscription/access model can be applied broadly across publishing sectors.

The slides from "The Future of the Cookbook" session can be found here, and session panelist Adam Salomone, associate publisher at The Harvard Common Press, has further discussions on monetization, ad revenues and the importance of staying flexible in this TOC Podcast interview and in a post at Publisher's Weekly.

Literary entrepreneur Praveen Madan turned the monetization discussion away from content and books and toward partnerships, relationships and experiences in his session "Kepler's 2020: Building the Community Bookstore of the 21st Century." Madan, who is currently working with The Kepler's 2020 Project, said selling memberships isn't anything new but is a very important source of revenue today and an important way to engage a community around a local bookstore. He talked about diversifying the traditional revenue model, moving away from a focus on selling print books and toward a model based on selling memberships, services and experiences, such as charging small ticket prices for author events and educational classes. His monetization discussion revolved around four core principles:

KeplerSlide

Madan elaborated on the first principle and talked about separating the bookstore business into two business — one for-profit and one non-profit:

"More and more, what we find is all the excellent public education programming that bookstores do is really a non-profit activity, and it belongs in a non-profit organization. The community partnerships program — these 120 community partnerships Kepler's has, schools that they're raising money from — that's a money-losing activity. There are about six people on Kepler's staff who do that work all the time. I looked at that and thought, this is really a non-profit organization, but it's stuck inside a for-profit organization, and it's losing money. So, let's just take it out, call it a non-profit and run it separately and fund it separately."

More information on Madan's session can be found here, and a video with further details about Kepler's 2020 Project can be found here.


If you couldn't make it to TOC, or you missed a session you wanted to see, sign up for the TOC 2012 Complete Video Compilation and check out our archive of free keynotes and interviews.


Related:

February 24 2012

Practical applications of data in publishing

At TOC, you're as likely to run into media professionals, entrepreneurs and innovators as you are publishers, booksellers and others working in traditional publishing. This, in turn, makes the underlying themes as varying and diverse as the attendees. This is the second in a series, taking a look at five themes that permeated interviews, sessions and/or keynotes at this year's show. The complete series will be posted here.


As the world — and publishing — becomes more and more digital, more and more data is produced and, ideally, collected. Knowing what kinds of data can be useful and how data analytics can be applied to inform publishing decisions is on the minds of many publishing professionals. Data was one of the overriding themes at this year's Tools of Change for Publishing conference, including discussions on how publishers can benefit from real-time data, practical applications of data and analytics, and how data can not only inform publishing decisions, but can actually aid in content creation.

In a keynote address, Roger Magoulas, director of market research at O'Reilly Media, talked about data research and the view of the data space at O'Reilly. He offered practical suggestions on how to incorporate data and addressed some of the reasons behind the buzz going on in the data space:

RogerSlide1.png

Machine learning and natural language processing, for instance, have become mainstream tools. Magoulas said the tools for making use of big data have kept pace with the increasing amounts of data produced, allowing a small team like his — just three people — to do everything.

When incorporating data to inform business decisions or to analyze business scenarios, Magoulas said data alone isn't enough — the data needs a narrative; the numbers alone won't tell the story. He addressed the area of data science from a functional viewpoint:

"On the one side, you manage data — you've got to acquire it; you might have to clean it up; you've got to organize it. On the other side, you're trying to make sense of it; you're trying to gather insights."

Magoulas said those are the two key parts, but that the most important part probably is having or cultivating a culture that can accommodate the data: "People need to understand the message that you're giving ... and how to value the input ... People need to be able to think in an experimental way and to stay curious."

When offering practical suggestions on incorporating data into a business, Magoulas stressed that becoming data savvy is important; "you can't just go buy big data and expect to know what you're doing." He also said keeping the data close to the analysis is important:

"You want to be agile, and if you separate it out and have a data group, an analytics group, and a design group, everyone is going to be waiting for someone else. Integration is really important."

You can view Magoulas' keynote in the following video (and you can find his slides here):

The data discussion turned real-time and academic in the "Mendeley Case Study: How The World's Largest Crowdsourced Academic Database Is Changing Academic Publishing" session, hosted by Jan Reichelt, director and co-founder of Mendeley Ltd. Reichelt shared some lessons learned at Mendeley and talked about how real-time data on content usage provides important insights into how academics interact with research. He stressed the increasing importance of social and community-collaborated content:

MendeleySlide1.png

MendeleySlide2.png

In addition to insights gleaned from the data around content usage, data around content production also was telling. Similar to other areas of the publishing industry — journalism, self-publishing — Reichelt highlighted the blurring lines between types of content producers and the types of content produced in academic publishing:

MendeleySlide3.png

Reichelt's presentation slides can be found here.

Peter Collingridge (@gunzalis), co-founder of Enhanced Editions, talked about how publishers can benefit from real-time data and analytics in terms of marketing. In an interview, he said data can inform answers to vital questions:

"When you're in a much faster-paced world, with the industry moving toward being consumer- rather than trade-facing, and with a fragmented retail and media landscape, you need to make decisions based on fact: What is the ROI on a £50,000 marketing campaign? Where do my banner ads have the best CTR? Who are the key influencers here — are they bloggers, mainstream media, or somewhere else? How many of our Twitter followers actually engage? When should we publish, in what format, and at what price?

Data should absolutely inform the answers to these questions ... Over time, you build up a picture of which tactics work best and which don't. And immediate feedback allows you to hone your activities in real-time to what works best (particularly if you are A/B testing different approaches), or from a more strategic perspective, to plan out campaigns that have historically worked best for comparable titles."

As the data deluge grows in the digital age, it not only is useful for analysis and informing decisions, it also can be used to create content. In a video interview, Robbie Allen, founder and CEO of Automated Insights, a company that produces narrative content from raw data, addressed this topic. He said for now, quantitative content created from structured data — think sports stories, financial reports — is best suited for automation, but that creating content from unstructured data isn't out of the question:

"In the unstructured world, we still can access what I call 'consistent unstructured data.' If there's patterns to data, we can still pull out data from that and make it structured. So, ultimately, we start with structured, then we go to consistent unstructured, and eventually, we'll even be able to pull data out of completely unstructured."

Allen's full interview can be viewed in the following video:


If you couldn't make it to TOC, or you missed a session you wanted to see, sign up for the TOC 2012 Complete Video Compilation and check out our archive of free keynotes and interviews.


Related:


February 23 2012

Agile for real-world publishing

At TOC, you're as likely to run into media professionals, entrepreneurs and innovators as you are publishers, booksellers and others working in traditional publishing. This, in turn, makes the underlying themes as varying and diverse as the attendees. This is the first in a series, taking a look at five themes that permeated interviews, sessions and/or keynotes at this year's show. The complete series will be posted here.


Agile publishing, in terms of workflow, work environment as well as practical publishing applications was one of the overriding themes at this year's TOC.

Kristen McLean (@ABCKristen), founder and CEO of Bookigee, addressed agile in her session Hippo In Ballet Shoes, Or Greyhound On The Track? Applying Agile Methodologies To Traditional Publishing. She talked about how agile is a workflow strategy and cited "The Agile Manifesto":

AgileManifesto.jpg

She also discussed what the agile environment looks like in real-world publishing. Some highlights from her discussion include:

  • Self-organizing teams with flexible skills — get highly talented and interdisciplinary individuals
  • Accountability & empowerment — Give them what they need and trust them to get the work done.
  • Sustainable development, able to maintain a constant pace — each person should be able to commit only to what they can do in a day, a week, or a production cycle. Cut back features in order to deliver on time.
  • Face-to-face conversation is the best form of communication (co-location) — put the entire team in one place.
  • Completed tasks are delivered frequently — weeks rather than months
  • Completed tasks are the principal measure of progress — focus on real stuff, not on rituals, documentation, or other internal benchmarks that do nothing for your customer.

McLean's presentation slides can be found here, and an interview with McLean on some of the finer points of agile can be found here.

Firebrand Technologies' communications chief Laura Dawson (@ljndawson) held a session on metadata, Metadata is Not a Thing, that reinforced some of these ideas, in that an agile publishing environment requires solid metadata through every phase of the publishing process. Dawson talked more about metadata and workflows in a video interview:

The agile theme flowed in a practical direction in the Real World Agile Publishing session with Joe Wikert (@jwikert) of O'Reilly Media and Dominique Raccah (@draccah) of Sourcebooks, and moderator Brett Sandusky (@bsandusky) of Macmillan New Ventures.

Wikert talked about a variety of agile publishing projects at O'Reilly, including current book projects such as Todd Sattersten's "Every Book Is a Startup," which is based on a model of frequent updates to build content and dynamic pricing, and Peter Meyers' Breaking the Page, which is based on a freemium model. He also addressed other styles of agile publishing O'Reilly has experimented with, including early release projects and rough cuts, which offer early digital access and flat pricing. Wikert touched on short form content publishing as well, which he said allows for a quick turnaround to publish minimum viable products on cutting-edge topics.

Raccah announced that Sourcebooks would be using an agile publishing model to publish an upcoming book, "Entering the Shift Age," by David Houle. She outlined three goals for the model — more efficient product development, a better author experience, and more timely/updated books — and listed six guiding principles of agile publishing:

AgileGuidingPrinciples.PNG

Wikert's presentation slides can be viewed here, and Raccah's can be viewed here.

In a separate video interview, Sandusky addressed a question about whether agile applies universally to all types of books:

"'Books' is the part that I have a little bit of a problem with — I think agile applies universally to all kinds of digital product development. That could include books; that could include traditional print books with a POD component; that could include many different types of digital products. 'Books,' in terms of the traditional model of 'build a print book, take it to manufacturing, and then take it to launch' is not an agile process. But if your workflow is more digitally focused, then I think it applies to all digital products overall."

Also in a video interview, Todd Sattersten (@toddsattersten), author of "Every Book is a Startup" and founder of BizBookLab, addressed a question about how publishers can apply agile development methods:

"I'm interested in how we take the concept of a minimum viable product and apply it to how we develop content. The problem with books is that we tend to believe they have to be big and long and carefully constructed. With minimum viable product, it's really the exact opposite — what is the smallest amount that we have to do? It could be just putting up a splash page and saying, "Are you interested enough in this idea to share an address?" We're very familiar in book publishing with the idea of pre-sales — why not sell a book before we actually invest a whole bunch of money in producing the book?"


If you couldn't make it to TOC, or you missed a session you wanted to see, sign up for the TOC 2012 Complete Video Compilation and check out our archive of free keynotes and interviews.


Related:


Reposted byRKvitaminb
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