Death By Irrelevance
Now that I'm no longer in the book publishing industry I've realized something very important: Amazon isn't killing book publishers. Publishers are killing themselves. Book publishers, or more accurately, their products, are becoming less and less relevant every year.
Snacking vs. dining
Let's start with the distinction between information snacking and long form reading: More of my time is now spent snacking, reading short pieces of content. The time I spend snacking has largely shifted from the time I used to read more long form content. My tablet and phone are almost always with me and I find the web as well as services like Instapaper and Byliner are replacing much of the time I used to spend in books.
I find myself much more attracted to short bursts of content and I doubt I'm alone. Book publishers, on the other hand, are still caught up in making products built for yesterday's container, the 300-page print book. That's fine for the rare storytelling author who can capture your attention for many hours, but let's face it...most authors and their books don't meet that standard.
Publishers are an Inefficient breed, but not in the typical sense. I'm not talking about production or editorial processes. Widespread outsourcing and staff cuts mean publishers are more efficient in these areas than ever before. But what about being efficient from the customer's point of view?
Where does most content consumption happen these days? On the web. Where is the book publisher's content? It's not on the web and it's certainly not exposed to the major search engines. Google is amazingly efficient at enabling content consumption, but the results benefit info snacking, not long-form consumption.
Publishers will shudder at the thought of exposing all their content to the search engines. How about simply taking some baby steps in that direction? Start with the ebook sample. Why are samples always under lock and key via DRM? Publishers need to encouragesample sharing and not lock them down.
How about giving prospective customers even more content than today's samples offer? Instead of 5%, give 10% or 20%. Maybe give that larger chunk only to customers who are willing to provide their contact info on your website. Then you'll have a way to market directly to them. And be sure to expose that additional content to the search engines, btw!
Changing revenue models
Finally let's talk about something that will give every traditional publisher heartburn: the need to change revenue models. Publishers are tied to yesterday's revenue model in a classic case of The Innovator's Dilemma. I'm talking about the difference between content purchased at today's prices vs. sponsor/ad-based content consumers will pay less, if anything, for.
At some point, even longer form content will be offered via a new model, where the content is fully exposed on the web, searches lead to it, and it's partially or fully subsidized by advertising or sponsorship. That's a model today's publisher is simply not structured for and they simply cannot fathom.
Startups will understand it though, mostly because they'll exploit the opportunity created by incumbents who are desperately trying to protect their outdated model.