The advent of e-readers and tablet computers…providing convenient, rapid access to multi-media content and instant publishing…shook the very foundations of traditional publishing (TP)…No, they actually blew TP to smithereens!
The old bureaucratic and autocratic publishing model is gasping its last breadth. TP may be asked to hang around in the future as a ‘status symbol’ form of publishing for already successful e-publishers, but it will be done through a completely different business model…if at all.
You see…today we are ALL empowered publishers.
Kindle, Nook, Other E-Readers Wrecking Publishing Industry: Report
Amazon’s Kindle, Barnes & Noble’s Nook and other e-readers could undermine the market for paper books, wrecking publishing industry revenue.
Amazon’s Kindle, Barnes & Noble’s Nook, and other e-readers might dangle the prospect of convenience for millions of bibliophiles around the world, with their light weight and instant access to whole libraries of e-books, but a new analyst report suggests the devices could eventually prove bad news for the publishing industry as a whole.
“The book publishing industry has entered a period of long-term decline because of the rising sales of e-book readers,” reads an April 28 research note from IHS iSuppli, which predicted a decrease in book revenue at a compound annual rate of three percent through 2014—a reversal from the period between 2005 and 2010, when revenue rose.
For the traditional book publishing industry, the implications of the rise of the e-book and e-book reader markets are frightening, given the decline in paper book printing, distribution and sales,” Steve Mather, IHS iSuppli’s principal analyst for wireless, wrote in an April 28 statement. “The industry has entered a phase of disruption that will be as significant as the major changes impacting the music and movie business.”
The firm predicts that physical book sales will decline at a compound annual rate of 5 percent. While e-book sales will rise during that same period, the increase won’t cover the revenue gap created by the decline in the physical book market. By 2014, the research note predicts, e-books will occupy some 13 percent of U.S. book publishing revenue, more than twice its current level.
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