Over the next few weeks, we're sharing snippets from "A Blueprint for Book Publishing Transformation: Seven Essential Processes to Re-Invent Publishing" by the Gilbane Group, a division of Outsell, Inc. The report truly is a must-read for book publishers but other types of publishers will also gain value from the trends and research the study has collected.
Today, we share the overview from the report:
It truly is a whole new world for book publishing. Publishers know this of course, as do their partners, vendors, and, of course, their booksellers. There are the obvious signs – the Kindles you see in friends’ hands and on the subway and the lines at the Apple store when the iPad was introduced. For industry observers, there are also the daily headlines about Google, Sony, Apple, and Amazon. PW Daily, the Monday-Friday e-mail blast from Publishers Weekly has e-book-related articles in almost every edition; we have counted more than one edition in the past year where every article was about e-books.
After the devastating economy of late 2008 and early 2009, book publishers are seeing more numbers that are positive. The revenues for digital publishing – and e-books specifically – are very strong and promise to continue to grow. Some segments of book publishing, including STM (scientific, technical, and medical) and professional, reached the digital revenue tipping point long ago. Some research from our Outsell colleagues, summarized later in this report, suggest other segments will start to tip in the next year or two.
These larger forces are creating significant pressure inside of book publishing. The goal of this study was to look at how publishers are adapting their traditional processes – many decades old and older – to adapt to digital publishing. Since these processes are usually aided by technology, the study took aim at the tools and systems publishers have been using and are starting to use.
The excitement of the marketplace is tempered by some of our analysis. While there are many bright spots – production and digital printing jump to mind – other process areas lag, are too nascent, or are waiting for industry standards and best practices to coalesce. What makes the landscape particularly challenging for book publishers is the rapid-fire addition of new channels and business models and the need to codify these models in their internal processes and systems even before they can fully evaluate how valuable some of these channels and models are.
Still the big picture for book publishers is very positive. The revenues are there, and growing. Readers are excited by the new devices and are demonstrating their excitement in fast-growing device and e-book sales. Publishers are moving ahead quickly across a broad front of process improvement and technology investment.
Our case studies point to some of the smartest bets publishers can make in the near- and medium-term. We expect that a look at these process areas in another year would show steady improvement in most areas and marked improvement in those areas tied most directly to revenue growth and e-book promotion.
Stay tuned for more information from this report or download your own copy here.
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