SPECIAL REPORT: Embracing the ‘Kindle Effect’
On the other hand, as Greco notes, the industry’s core strengths make the overall outlook good.
“The book business is stable, meaning you have numbers that are quantifiable and that you can model, and that’s of interest to an awful lot of people on Wall Street,” he notes. “And it’s historically a growth business, unlike technology or housing. There are certain sectors [of the economy] that have boom years and bust years, and this is a business that is far more consistent when you look at who owns some of the major publishing houses—large, global conglomerates who are in this business because they like this business.”