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Joseph Esposito: Stage Five Publishing
 

Joseph Esposito: Stage Five Publishing

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    Joseph Esposito: Stage Five Publishing Joseph Esposito: Stage Five Publishing Presentation Transcript

    • Stage Five Book Publishing AAUP Presentation Joseph J. Esposito CEO GiantChair June 18, 2010
    • Hope is the thing with feathers
      • --Emily Dickinson
    • Topics
      • What is sustainability?
      • The place of innovation
      • Tracking four key properties
      • The 5-stage typology
      • Red herrings
    • What is Sustainability, Anyway?
        • Is the current situation worth sustaining?
        • Sustainability and the status quo
        • Where is scholarly publishing going?
        • Create a picture of the future, and paint yourself in
    • The Place of Innovation
      • Looks to the future
      • Aligns a publisher with trends in the industry
      • Permits a publisher to get in on the ground floor
      • The “inevitability factor”
    • Tracking 4 Key Properties
      • Venue (where are books sold?)
      • Medium (is the book in print or digital?)
      • Sales channels (is the book sold through middlemen or directly to consumers?)
      • Nature of offering (is the book sold by itself or as part of a broader marketing program?)
    • Stage 1 Book Publishing
        • The traditional model
        • Sold in bricks-and-mortar bookshops and to libraries
        • Print books
        • Sold through various resellers
        • Each book is a discrete entity
        • For virtually all publishers, whether scholarly or commercial, this is still the primary way books are published and sold
    • Stage 1 Properties
    • Stage 2
        • Advent of online bookselling (Amazon et al)
        • Most of the traditional model remains:  discrete products in print sold through resellers
        • Perhaps 25% or more of the scholarly book business today
        • Most publishers view online stores as they do physical stores
        • Important aspect of online bookselling is the new priority given to metadata to aid in the discovery of books
    • Stage 2 Properties
    • Stage 3
        • Advent--or the tipping point--of the ebook
        • Sold online; no meaningful bricks-and-mortar role
        • Still sold through intermediaries
        • Highly disruptive
        • Role of online discovery soars, increasing pressure on high-quality metadata and search-engine optimization
        • This is where the industry is now, but note that Stages 1 and 2 are still active and comprise the bulk of revenue
    • Stage 3 Properties
    • Stage 4
        • Emergence of direct marketing
        • Linked to SEO
        • Higher margins, better control of marketing
        • Dispenses with print, bricks and mortar, and resellers
        •   Collection of data about end-users
    • Stage 4 Properties
    • Stage 5
        • Just now on the horizon
        • Selling books by subscription
        • Reduces the cost of acquiring customers
        • Likely to take many different forms
        • The leaders for this stage have not yet emerged
    • Some Reflections on Stage 5
        • The music business is moving toward subscriptions
        • Multi-publisher aggregations are a short-term tactic
        • Likely to result in restructuring of presses
    • Stages and Properties (summary)
    • And that has made all the difference --Robert Frost