It's a textbook example of The Innovator's Dilemma. The crazy part is we all know it's a big problem and yet very few publishers are taking evasive action.
I'm talking about the reliance on print, even at the expense of digital transformation and growth. Here are a few reasons why print is a publisher's silent killer:
I try not to be a proponent for or against Amazon. But I have to say, I was a bit worried after reading David Streitfeld's article in The New York Times a few days ago, "Amazon, a Friendly Giant as Long as It's Fed." If the title wasn't ominous enough, the sentiment of one of Amazon's authors, Vincent Zandri, was.
Paper Lantern Lit is a literary incubator that helps writers plot new story ideas and coaches them through the writing process. After helping an author complete a novel, Paper Lantern Lit sells it to a publisher. Neither a publisher nor an agency, Paper Lantern Lit has sold 30 books and made several movie deals to date.
Unless your organization is a startup it's highly likely you're using a strategy and business model that's worked for many years. That same strategy and business model might span multiple generations. Even though you've embraced the latest technologies and devices, are you also meeting the needs and expectations of the younger generation?
As I scroll through Google News articles about the now infamous Hachette-Amazon dispute, I see several impassioned headlines that urge authors and readers to pick a side in the brawl, as if allegiance is somehow a reflection of one's moral fiber. "Amazon is Not the 'Putin of Books,'" and "Amazon is Not Your Best Friend," are two such examples.
We're swimming in a sea of numbers. Sales data, subscriber trends, website analytics, etc., are just a few of the indicators we can touch on a daily basis. The key is to figure out which numbers to pay close attention to and which can be ignored.
It's amazing that in this day and age of geo-tracking, data capture, and rich content there's no killer app for location-based content. I'm talking about a service that does the following:
With paywalls coming back in style readers are discovering more brands are clamping down on content access. Whether it's accomplished through metering or subscriber-only access, a day doesn't go by when I don't run into a paywall.
For many years publishers created content, used it once, and never considered its value beyond that initial use. Some publishers created remixes in the print-only era but everyone needs to explore content reuse in the digital age. At its heart, reuse leads to additional ROI on your initial content investment.
I'm continuously struck by the discombobulated nature of discussions about publishing. This haze is a problem, because if you can't have a well-structured and properly framed discussion, you can't solve problems. Publishing is littered with problems, and solving these problems should be the primary aim of any "disruptive" publishing enterprise.
