The Future of Books - Creating New Value from Reading

THE SOUND HORIZON BOOKS 2.0: CREATING NEW VALUE FROM READING Dominic Pride 19 March 2010

ABOUT THE SOUND HORIZON ight, T ranslating ins nd intelligence a to things innovation in ! people use. Fast! ! Dominic Pride: Managing Director / Principal Consultant Some of our Clients • Strategic change • Innova5on management • Product marke5ng • Mobile and converged service development • Experience with operators, handsets, agencies, content brands, labels, associa5ons March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 1

TODAY’S SESSION How to transform the desire for change into reality 1.Dawn of 2. Welcome 3. Your new 4. From 5. The digital reading to the digital ecosystem books to change ecosystem partners Reading 2.0 agenda @thesoundhorizon #books20 March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 2

1. THE DAWN OF DIGITAL READING

DIGITAL READING GOES MAINSTREAM CES: 20+ E- reading devices on show The iPad: “ideal canvas” with No. of books rich user interface overtakes games in iPhone App Store* The digital reading use case is becoming widely understood *Source: Mobclix http://blog.mobclix.com/ : March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 4

BUT SERIOUS CHALLENGES LIE AHEAD Digital behaviours established by other services Consumer backlash Pricing and margin in App Today’s rich UI will begun? Stores become tomorrow’s hygiene factor Growth potential for reading beyond e-readers Competition for authors’ content from other media. VCs and disruptive startups targeting reading Disintermediation by self- publishing platforms Perpetual, accelerating pace of innovation Competition for audience and revenue in “reading” category. March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 5

TO THE DIGITAL ECOSYSTEM

FROM BOOKS 1.0 VALUE CHAIN … Actor Author Agent Publisher Distributor Retailer Create Maximise Manage risk Deliver Sell book Role work revenues Market book book • Wri5ng • Finding / • Edi5ng • Storage • Store • Revising developing • Prin5ng • Transport mgmt • Promo5on / placing • Product Marke5ng (incl. • Billing Activity talent • Release management returns) • Customer • Royalty • Account service collec5on mgm.t March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 7

…TO BOOKS 2.0 VALUE ECOSYSTEM Authors Auto-‐ VCs mo5ve Content Agents Consumer Electronics Developers Book Publishers Mobile Magazine Networks Consumers Film Publishers App Stores TV Content Newspaper Brands ISPs Social Networks Owners Publishers Agencies Digital Retail Games Music Publishers Radio Portals Analy5cs Providers March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 8

…TO BOOKS 2.0 VALUE ECOSYSTEM Authors Auto-‐ VCs mo5ve Revenue Agents Consumer Electronics Developers Book Publishers Mobile Magazine Networks Consumers Film Publishers App Stores TV Content Newspaper Brands ISPs Social Networks Owners Publishers Agencies Digital Retail Games Music Publishers Radio Portals Analy5cs Providers March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 9

…TO BOOKS 2.0 VALUE ECOSYSTEM Authors Auto-‐ VCs mo5ve Attention / Agents Engagement Consumer Electronics Developers Book Publishers Mobile Magazine Networks Consumers Film Publishers App Stores TV Content Newspaper Brands ISPs Social Networks Owners Publishers Agencies Digital Retail Games Music Publishers Radio Portals Analy5cs Providers March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 10

…TO BOOKS 2.0 VALUE ECOSYSTEM "   Linear "   Open "   Closed "   Dynamic and sensitive "   Values only end-‐user "   Can visualise ﬂows of revenue, not other new generatives value created "   Recognises customers "   Customer as source of as adding value revenue only "   Can identify new "   Measures value added niches to physical product, "   Helps determine not digital service design March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 11

WHAT IT MEANS FOR YOU •  You are connected to everything –  You are exposed to disruptive innovation –  Your offering will have to respond to this •  Control will be impossible –  Finding niches, collaboration and symbiosis become important •  You will have different models for partners –  Each channel has specific needs and drivers March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 12

THE SOUND HORIZON 3.YOUR NEW ECOSYSTEM PARTNERS

YOUR NEW ECOSYSTEM PARTNERS What do they need and what do you expect in return ? Digital Consumer Access Agencies Retail Electronics Partners and Brands They • Volume • Differentiation • Acquisition • Inventory • Margin • Brand Loyalty • Retention • Audience need • Support retail • ARPU • Engagement proposition You need • Volume • Distribution • Distribution • Data share • Margin • Placement • Activation • Conversation • Activation • Billing • Feedback Your business models and proposi5ons will change depending on partner March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 14

AND HOW THEY COMMUNICATE Content packaged as part of mix of access, services, communica5ons and discovery March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 15

e n ers ar w part e Your n selling ss • acce are w • hard y • inv entor ervices. s need u re o f They t s the fu in this What’ ducts o your pr ent? m e nviron 16

THE SOUND HORIZON 4. FROM E-BOOKS TO READING 2.0

BOOKS TO E-BOOKS: 1.0 to 1.1? “the ebook [doesn’t] really have that much to oﬀer consumers over a physical book” •  [publishers should] turn from the disruptive innovations of ebooks and ereaders to the creation of sustaining innovations that improve those technologies. Ania Wieckowski -‐Harvard Business Review Feb 2010 March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 18

BECOMING WEB AND CONTENT 2.0 WEB 1.0 WEB 2.0 • Read-‐only • Read-‐write • One-‐way • Two-‐way • Authored by webmaster • (Co-‐) Authored by users • Centralised • Decentralised • Des5na5on sites • Syndica5on • “users go to content” • “content comes to users” The Broadcast Web The Social Web March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 19

Digital content is not a format or a replacement for a physical product. March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 20

3Cs VALUE CREATION FRAMEWORK Content at the heart of the experience but only one of three vital elements for customer value Community: • How does it bond me with my friends? • How does it confer status on me? • How does it enable me to make new friends? Context: • What device? • Where? • When? • Why? March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 21

THE SOUND HORIZON SERVICE CONCEPTS AND STIMULUS

CLOUD SERVICE – SUCCESS FACTORS  Accessible from / independent of multiple devices  Value in the service / access and the content  Optimised for device  Abundance of content  Highly personal  Social elements March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 23

CLOUD SERVICE – LAST.FM Widget Lifestream iTunes Plugin Xbox 360 RSS reader Mobile Website app March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 24

CLOUD SERVICE – WHY NOT READING? Syndicated •  All my reading in the cloud •  Optimised for all Shared of my devices and locations •  and therefore reading Mobile / Handheld Tablet styles! In-Car •  My reading comes with me when I change devices •  Personal Investment rewarded e.g. by recommendations E-reader Netbook March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 25

SOCIAL READING – THE CASE FOR •  Reading is highly •  Digital natives: personal –  Use trust networks ﬁrst –  Formative –  Instinctively share –  Creates social capital content •  Reading is highly social –  Expect sharing in the product –  Clubs •  Arouses strong emotions –  potential for sharing at “point of inspiration” March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 26

SOCIAL READING IN ACTION Should be revising Bronte but @Eleanorjb has just halfway through #Eclipse got to the wedding bit, but she’s instead. Just got to the reading a paper book. LOL! bit where they kiss. hfp://bit.ly/df • Content • Context • Community • Audience • Awareness • Desire? March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 27

API MODEL: LEARNING FROM TWITTER •  50K applications / services use API •  “Firehose” now for commercial customers •  Usage enabled by open platform, not service •  Why not a books API? March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 28

THE SOUND HORIZON 5. THE CHANGE AGENDA

CREATE THE VISION OF READING 2.0 •  Deﬁne, own and communicate * the Future of Books –  Inspire your partners, your authors, your readers •  Lead everyone toward the new –  Defending the old has predictable consequences The future of publishing must be deﬁned by what it will be, not what it won’t *Source: Billboard Magazine - 19 Nov 2005 March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 30

START TO EARN AND OWN ALL 3Cs •  Enable conversations / relationships around your content –  service features which let readers talk: •  to each other via trust networks •  to you •  to your authors •  Recognise / measure new metrics •  KPIs for: –  audience –  engagement & usage Don’t wait 5ll the value of content = 0 March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 31

FOSTER AN INNOVATION CULTURE Innovation within Innovation outside •  Evangelism from CEO down •  Position publishers as open •  Involve everyone to innovative partners •  Innovation framework •  Visible innovation –  Create a home for ideas ﬁgurehead –  A structure to manage Y •  Encourage partnerships our –  Bring to life pow most •  hack days er weap ful –  Build on knowledge o capt n for •  workshops u ideas ring •  collaboration with partners •  Become agile ! –  iterate Publishers must invest in sustaining innova5on as they would in crea5ve talent March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 32

Innovation will take place with or without you March 19, 2010 Dominic Pride -‐ The Future of Books. Some rights reserved. 33

THE SOUND HORIZON Thank You! dominic@thesoundhorizon.com www.thesoundhorizon.com @thesoundhorizon Books 2.0

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The Future of Books - Creating New Value from Reading

by The Sound Horizon on Mar 19, 2010

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