Digital change in the US market really began with Amazon selling physical books in 1995. The ebook component, although it has grown by leaps and bounds in the past five years, didn't really become important for more than a decade. And Amazon, and then Barnes & Noble, as giant players, were able to drive both innovation and market trends in a way that may have been unique. In this talk, Mike Shatzkin will review the changes that occurred in the US marketplace and English-language publishing, including the undermining of the retail bookstore network. The changes in Latin America and Spanish will be different, of course; far more devices at far lower prices are on the market and there is a much bigger support infrastructure in place for publishers to manage a digital business than US publishers had a decade ago. So there are lessons to be learned from the US and English-language experience, but a different trajectory of change -- one which Shatzkin believes will be much faster because it is starting later -- is to be expected.