Publishers' Outlook 2011
According to West Academic's Justin Hummel, the company's digital tools, such as The West Education Network (TWEN) "are changing how people are using [and] accessing content."
BB: Which products/segments do you expect will see the most revenue growth in 2011?
Spilka: Today, about 45 percent of Wiley's overall revenue base is digital, and that figure is obviously growing. Print-on-paper books will be a part of the publishing landscape for the foreseeable future, although most of our anticipated future growth is digital.
The percentage is higher in our scientific, technical, medical and scholarly (STMS) business, where our customers showed readiness for online delivery much earlier than in Wiley's other businesses. Today, about 56 percent of our STMS revenue comes from digital products, services and solutions—at this point, predominately (79 percent) from journals, and about 11 percent comes from digital books on Wiley Online Library or e-books (available through digital book vendors). Online advertising and databases are also growing sources of revenue.
BB: Do you anticipate more integrated print/digital offerings in 2011, or will the trend be toward replacing print with digital?
Spilka: We see a growing demand for digital books. Over the next several years, we're going to see more flexible and customizable delivery of content/solutions, more digital license-based business models, e-books, e-learning, branded and vertical websites, online advertising and nontraditional revenue. We are becoming more and more focused on end-users: delivering greater ease of use/purchase [and] discoverability; and providing 24/7 access and support.
… We see opportunities to serve the research community with new journals, online reference works, workflow tools, continuing education services, virtual conferences and community sites.
BB: What's on the horizon for Wiley in terms of mobile/app initiatives?
Spilka: We have submitted three apps for approval to Apple that are derived from Current Protocols, an online, full-text collection of laboratory manuals offering step-by-step laboratory procedures. … The apps were developed in-house and are based on popular tools from the CurrentProtocols.com website. Each app is $1.99.