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The Book in Transformation

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Presentation given at Congresso internacional do livro digital 2011 in Brazil, July 2011. The consumer and textbook data at the front of the presentation is from BISG and

Presentation given at Congresso internacional do livro digital 2011 in Brazil, July 2011. The consumer and textbook data at the front of the presentation is from BISG and

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  • By the way, consistent finding
  • P-book adult non-fiction 42%
  • This is a surprise
  • And in the US market Kindle is #1 ereader, followed by BN’s Nook.
  • Obviously that’s an important thing to think about.
  • Free is key for e-customers
  • So I’m going to start by talking aobut the results…because it provides a frame for you of where Sourcebooks is…and the kinds of results that these ideas have generated for us.
  • What we’ve actually sold to customers
  • The lay of diffusion of innovation, shows that the adoption curve (a typical bell curve) can be segmented out into the following sections.Of all our population:2.5% innovators13.5% early adopters34% early majority34% late majority16% laggardsWe all sit at various places at various times along this scale.If you want mass market appeal, mass market success or acceptance of an idea (the two 34% sides), you cannot have it until you have achieve this tipping point, between 15% and 18% market penetration.I love to ask businesses, what is your conversion, and they respond proudly 10%. Well you can trip over 10%. There’s always 10% who will just “get it”, in fact, that’s how we describe them.The problem is what 10%.It’s this 13% that matters, as Jeffery Moore describes in “Crossing the Chasm”.The early majority will not try something, until somebody else tries it first.How close do you think we are tothat tipping point? http://life-engineering.com/1757/how-great-leaders-inspire-action-the-golden-circle/
  • You can see October, Nov and then Dec and Jan “took off like a scalded cat” to quote my husband
  • The June numbers are literally off the chart
  • What’s most impacted by ebooks in the US today. Look at the sourcebooks list in terms of sales. The bulk of our pos is still adult non-fiction. Followed by fiction, followed by juvenile.
  • Now take a look at that same list in terms of ebooks. And we look like a fiction house. Fiction dominates (at least currently) ebook sales.
  • Steep distribution decline. So focus on your top titles.

The Book in Transformation The Book in Transformation Presentation Transcript

  • The Book in Transformation
    Dominique Raccah
    Sourcebooks, Inc.
    CongressoInternacional de Livro Digital
    July 2011
  • today… book publishing in the United Statesis an industry in transformation
  • advantages of hindsight
  • The Book in Transformation
    Consumer data — BISG & PubTrack
    Practical implications
    What’s beyond ebooks
  • [consumer data]
  • 3 Year Study (11 contracted publications)
    5 publications to date
    Methodology
    • PubTrack™ Consumer panel of U.S. book buying men, women and teens balanced to US Census
    • Survey pool of ~78K book consumers at the time of last fielding
    • 95% probability threshold
    © 2011, the Book Industry Study Group, Inc.
  • 2 Year Study (4 contracted publications)
    2 publications to date
    Methodology
    • PubTrack™ Consumer panel of U.S. college students
    • All institution types – all grade levels balanced to statistics from American Council on Education
    • 1,500 students per fielding
    • 95% probability threshold
    © 2011, the Book Industry Study Group, Inc.
  • Benefits of e-reading devices…
  • Why consumers purchase e-books instead of print books
    © 2010, the Book Industry Study Group, Inc.
  • Trade E-Book Market Growth Rate
  • [Trade Consumer]
  • Who is Today’s Core Trade E-Book Buyer?
    Woman (66%)
    ~44 years old
    HH Income ~$77K Yr
    Predominantly Fiction (58% of all ‘e’ sold)
  • Core buyer of trade E-Books is growing and has tremendous buying power!
    Frequency of Purchase
    18% of buyers = 61% $$$ for ‘e’
  • Dedicated e-readers Now Dominate the Trade Market…
  • Dedicated e-readers are the dominant choice for all book genres now.
    15
    © 2011, the Book Industry Study Group, Inc.
  • …And Kindle still dominates the trade device market…
  • Kindle is the dominant source for Trade E-Book downloads…
  • …Not So in the Higher Ed Market
    Spring Semester 2011
  • [Textbook Consumer Data]
  • Who is Today’s Core E-Textbook Buyer?
    Male
    ~23
    Graduate Student or Distance Learner
    More likely ‘pirate’ print or digital texts then under-classmen
    Still only buys a small portion of his texts 17% as ‘e’
  • E-Texts do not have a clear source for download
  • Feature requirements from students are demanding on E-Books
  • When given a choice, students choose print over ‘e’ 3 out of 4 times…
  • …And find ‘other’ forms of digital content more useful than E-Books
  • While still lacking functionality, students perceive similar value points to trade
  • For now…ebooks having significantly larger impact on trade books than textbooks
  • Wish list of trade E-Book buyers offer clues for the future
  • The rise in e-book units is not offsetting the cannibalism of print.
    28
    © 2011, the Book Industry Study Group, Inc.
  • E-book buyers still look to ‘free’ as a major component to digital transition.
    © 2011, the Book Industry Study Group, Inc.
  • Downloading of FREE e-books is central to the digital content experience.
    30
    30
    © 2011, the Book Industry Study Group, Inc.
  • [practical implications]
  • Sourcebooks results at a glance
    10 years of consecutive sales growth.  Of those, 5 years of double digit growth
    YTD 2011 BookscanPOS (through the register sales) up 8%(industry down 8%)
    YTD p-book market share is up 23.5%
    Net sales up over 20% at the end of 1st half 2011
  • aninteresting aspect…
    When add ebooks into both 2010 and 2011, “total POS” has grown by 60% so far in 2011
  • [ebooks]
  • Licensing &
    Administration
    Trademark/
    Copyright protection
    Accounting;
    Royalties
    Positioning
    Cultural Filter
    Content
    Development
    Copyedit and
    Proofread
    Physical & Digital
    Warehousing
    what
    book publishers do
    Content Design
    Physical Distribution
    Creation of content
    portable files
    Digital Distribution
    Printing/
    Manufacturing
    Author branding &
    career development
    Trade Shows
    Niche community
    building
    PR, Marketing
    and Advertising
    Creative Partner
    Retail Marketing
    and Sales
    eCommerce
    Administration
  • law of diffusion of innovation
    -Simon Sinek, Ted Talk
  • Ebooks. How far? How fast?
  • for Sourcebooks,
    January 2011 eBook dollars
    = 35% of $ sold
  • 2 major trends driving this growth
  • 1. anytime, anywhere…buying
  • Trade E-Book Consumers are buying more titles…
  • …Majority of trade consumers now report spending more money overall
  • 2. anytime, anywhere…reading
  • 80% of ebook readers reported reading somewhat or a lot more
  • What categories of books are most impacted by ebooks today?
  • What’s Transforming (2010)?
  • What’s Transforming (2010)?
  • It’s about stories…
  • Slower ebook transformation for categories such as reference and children’s books
  • Continuing downward
    pressure on pricing of ebooks
  • How much infrastructure is enough?
  • [what’s involved in making ebooks]
  • ebooks require
    additional workflow
  • with printed books, we ship exactly the same product to different retailers
  • ebook distributors timeline
    Amazon
    Apple
    Barnes & Noble
    Blio
    Copia
    Google
    Kobo
    Overdrive
    Sony
    + 2-3 more
    Amazon
    Apple
    Barnes & Noble
    Overdrive
    Sony
    Amazon (85%)
    Overdrive
    Sony
    2008
    2010
    2012
  • ebook retailers use different file formats
  • Two kinds of changes:1. Changes to workflow process2. Additional workflow
  • ebooks were a by-product of the file out
  • creating a new workflow;
    from bookmaking to content delivery
  • What conversion costs (will vary by kind of publisher/list):
    Simple Titles: $54.93
    Moderate Titles: $96.70
    Complex Titles: $180.95Average price
    per title: $111.00**
  • What do ebook sales look like(average unit sales per month):
    Top 10 Titles: 479.6 Units
    Top 50 Titles: 235.3 Units
    Average for all ISBNs: 13.3
    (October 2010)
  • What’s next for ebooks:
    • content management systems
    • epub 3
    • bundling
    • still no good reporting mechanisms
    • there are new devices every day
  • [what’s beyond ebooks]
  • 3 different kinds of digital opportunity
    e-books
    apps
    web-based
    1.
    2.
    3.
    enhanced e-books
    communities
    book
    publisher
    content sites
    developer
    interactive programs
  • developing a digital roadmap
  • some of what we’re seeing…
  • 1. Vertical focus means we compete harder in fewer categories
  • developing reader (user)-centric models ~
    based on key verticals
  • ?
    ebook
    $0.99 - $4.99
    $$$
    $19.95
    $12.99
    $5.99
    $4.99
    Complete Book of Baby Names
    25,001 Best Baby Names ebook
    25,001 Best Baby Names MM
    Baby Name Treasury
    iPhone
    apps
  • 2. greater need for partnership between authors, agents and publishers
  • ebook
    $0.99 - $4.99
    $$$
    $19.99
    $14.99
    $12.99
    $17.99
    Gruber workbooks
    Gruber SAT ebook
    Gruber Word-Master
    Gruber’s Complete
    SAT
    MyMaxScore
    Gruber Test Prep software
    iPhone
    apps
  • 2. Metadata matters
  • 3. Digital has cultural implications within your organization
  • impacts every department
  • 4. Conceptualizing beyond the physical book
  • The Book Wheel
    Print
    Apps/interactive
    /software
    Audiobook
    RTF
    Web PDF
    Book/Content
    Kindle/Mobi
    ePub
    Enhanced/
    additional media
    Other/licensing
  • 3 different kinds of digital opportunity
    e-books
    apps
    web-based
    1.
    2.
    3.
    enhanced e-books
    communities
    book
    publisher
    content sites
    developer
    interactive programs
  • Author
    Publisher
    Developer
  • software
    developer
    book
    publisher
    Software/App customerSoftware retailersPublicity, marketing and advertising that drives software purchasesContent editing for flexible format productUser-Interface and designTechnical programmingDatabase design and programmingPlatform and device portabilityOngoing content updatingOngoing software updatingOngoing consumer support
    Book or ebook customerBook or ebook retailersPublicity, marketing and advertising that drives book purchasesContent editing for fixed format productDesign and layoutPrinting and warehouse/storage capabilities
    Content
  • Let Every Nation Know
    Apple iBookstore
    November 2010
  • iDrakula
    App • Free, $1.99
    Book
  • Where is the line between a book and an app?
  • enhanced
    ebook
    iPhone app
    software
    interactivity
  • 5. focus on the user/reader & that person’s experience
  • “You’ve got to start with the customer experience and work back toward the technology — not the other way around.”
    Steve Jobs
    May 1997
  • user interface=
    experience design
  • “We don’t pay for content.
    We pay for the experience.”
    Nick Bilton
    I live in the future and here’s how it works
  • Digital opens opportunities
    beyond ebooks
    Focus on key verticals
    Metadata matters
    Digital has cultural implications
    Publishers can conceptualize books in new ways
    Focus on user experience
  • enhanced e-books
    e-books
    web-based content
    the world for book publishers
    just got a lot BIGGER
    apps
    user-generated content
    communities
  • It’s not just the book that’s transforming.
    It’s the book publisher.
    Digital changes everything.
  • “We should try to be the parents of our future rather than the offspring of our past”
    -Miguel de Unamuno (1864-1936)
    Spanish essayist, novelist, poet,
    playwright, and philosopher
  • Thank YOU!
    Email: dominique.raccah@sourcebooks.com Twitter: @draccah
    LinkedIn Group: Ebooks, Digital Books and Content Publishing Network