Panelas concedes that the early years in the 1990s were a challenge because Britannica underwent a transition in which sales to consumers of its traditional print encyclopedia were declining; revenues from electronic products were increasing simultaneously, but not always as fast, he says.
“During the years when few people had Internet access and the main electronic publishing platform was CD-ROM, it was tough because CDs are sold in retail channels, where margins are low and publishers have limited control,” he explains. “As everyone joined universities in getting Internet access—consumers, schools, libraries—we’ve been able to develop a constellation of very successful online businesses built around Web sites designed to serve each market. Since we usually market directly to our customers, we aren’t beset by the vagaries of the retail channel, though we still sell software products there, as well as publishing books for the trade.”
ref•er•ence pub•lish•ing n :industry segment faced with dramatic change
Panelas concedes that the early years in the 1990s were a challenge because Britannica underwent a transition in which sales to consumers of its traditional print encyclopedia were declining; revenues from electronic products were increasing simultaneously, but not always as fast, he says.
“During the years when few people had Internet access and the main electronic publishing platform was CD-ROM, it was tough because CDs are sold in retail channels, where margins are low and publishers have limited control,” he explains. “As everyone joined universities in getting Internet access—consumers, schools, libraries—we’ve been able to develop a constellation of very successful online businesses built around Web sites designed to serve each market. Since we usually market directly to our customers, we aren’t beset by the vagaries of the retail channel, though we still sell software products there, as well as publishing books for the trade.”