Blogger: Janet Kobobel Grant
Location: Enroute to Santa Rosa from BEA
Weather: Um, cloudy, looking at the view below the plane
A couple of you asked for trend info based on what Etta, Wendy, and I observed at BEA. I think the best way to respond is to give a brief report today on the CEO round table, which was held the day before the ribbon was cut to unleash everyone onto the convention floor.
Hearing the perspectives of the heads of publishing companies is a good way to put your finger on the pulse of the industry. This year’s round table was led by Tina Brown, founder and editor-in-chief of the Daily Beast. But she was losing her voice and didn’t make it through the hour-long discussion, turning to her hubby, journalist Harry Evans, to finish out the moderating duties.
The participants were: HarperCollins’s Brian Murray, Macmillan’s John Sargent, Simon & Schuster’s Carolyn Reidy, and Perseus’s David Steinberger. Tina started out the discussion by describing the media as being “in the middle of an industrial revolution,” with a reimagining of an industry taking place, with fewer and fewer places to talk about books (referring to the demise of magazines, newspapers, and book reviews).
One of the questions weighing on John Sargent’s mind was: “Amazon shows Kindle readers buy much more, but do Kindle reader continue to buy long-term?” (My personal experience is, oh, yes. I find I’ve increased my reading–and buying–threefold since purchasing my Kindle July 2008. Wendy would agree with that.)
David Steinberger said, “The danger is the development of monopolies because there’s someone who has come between the publisher and the reader.” (Referring to Amazon, Google, and Yahoo.)
Brian Murray’s concern was: “Consumers are used to paying for books. What are the ways to make the migration to electronic publishing profitable?”
Carolyn Reidy wanted “thinking electronically to be in everyone’s DNA at the publisher’s. The true explosion happens when people can read on devices they bought for other purposes. How do we step into this world and take control of it?”
The publishers talked about crashing books and how that will become the norm in the future. Carolyn Reidy observed that S&S crashed 150 books last year “and they did well.” Rapid response, David pointed out, is the future of publishing.
Each CEO also weighed in on thoughts regarding marketing, and while each gave a nod to viral marketing, they all agreed that, as Reidy said, “The Internet has not replaced ‘The Today Show’ yet.” In other words, national publicity still is the way, in the CEOs’ opinion, to generate word of mouth.
So, there you have it, straight from the CEO roundtable, the trends. You’ll note they’re all preoccupied with electronic publishing and technology and are thinking hard about how to wrestle that beast into submission. They’re determined, but I also suspect they’re very nervous. Who wouldn’t be when you’re in the midst of a revolution?
In this digital age, what does a publisher provide that ONLY a publisher can provide?
The United Airlines magazine yesterday (on my delayed flights, thank you), had an article about the rise and growing respectability of self-publishing, even as traditional publishers decline.
I hope to see Christian publishers lead the way with a laser-beam focus on ensuring top quality materials for the reading public. I think the publishing houses have to define exactly what they can offer that nobody else can, and then hit it out of the ball-park in terms of quality.
I love this discussion; the transition is exciting. Maybe that’s because I still have my day job (and intend to keep it, as Wendy’s blogs have suggested)!
Bill Giovannetti
How to Keep Your Inner Mess
From Trashing Your Outer World (Monarch 2009)
I’m not an expert, but it seems to me that the music industry has already gone through this. They focus on making great music, don’t make MP3 players and let middle men like iTunes handle the go-between. The same thing is happening with TV and movies. NBC famously walked away from iTunes because they were going to provide “quality content” for their viewers and keep all the profits for themselves. Guess what? NBC is back with iTunes.
As an outsider looking in, I see publishing wanting a hand in both cookie jars- money from book sales and device sales. The minute Apple steps into the book reader market (which is exactly what this Mac user is waiting for) things will really change. iTunes is the perfect place to sell books. Publishing needs to share some of the profits, and I believe there will be plenty once e-readers are more universal and come down in price.
I don’t see the e-reader as the end of hard copy books either. There are still music sales, still places to go and sample music and have a latte. This won’t change.
I am not up on all of the publishing lingo. What is “crashing books”?
Extremely interesting! Thanks for letting us in on the discussion of the big CEOs!
I have a friend who has a daughter who is a reluctant reader. Then she downloaded a book to read on her new iPhone. She read it a couple of days and downloaded another one. While the public is still in transition, the new electronic devices may be the answer for some reluctant readers who love their phones.
I still love a book I can mark in, but a post of Michael Hyatt’s blog says we can highlight in Kindle. I can’t visualize flipping pages, but knowing technology, it’s probably possible.
Wouldn’t mind it for my upcoming trip to Dallas!
Could you please expand on “crashing books” and “viral marketing”? I’m not sure I have a good handle on those terms.
Thanks!
Great post. Thanks for the inside look.
I too like the feel, smell, and look of having an actual book in my hands. I read sitting out on the deck or in a bubble bath and I just don’t think that it would be the same experience with a Kindle. Plus you have the worry of dropping it in the water. 🙂
So you are the one bringing the overcast to Santa Rosa today 😉 I have a son who doesn’t like to read and never thought about a Kimble as a tool to get him to read – he is 14 and all about technology. But then, I love the feel of a book.
Catherine
Bill, your question is the one publisher’s need to hone in on: What can they offer that can be found nowhere else. In the past, the answer was keen editorial guidance for the author; marketing that effectively put the word out on the street about a book; and sales reps capable of efficient sell-in to bookstores. So what have become marked weaknesses among publishers in general? Editorial support and marketing as an author’s “partner” (sometimes a silent partner). Publishers need to remember what made them effective before because the reading public could still use intelligent editors with the time to really work on a project; creative and effective ways of finding out about books; and books available in the outlets those readers frequent.
Dawn, the challenge publishing faces is that the entities eager to provide e-readers at this point are the same companies eager to provide books (i.e., Amazon and Google–Google announced today it will be publishing books). The creators of the reading devices don’t want to share cookie jars with anyone; they want to make profits from selling devices and from publishing books. It really is a book revolution.
To answer Gina about what crashing a book is, it’s when a publisher sets aside the standard publishing process, which generally takes a year after the finished manuscript is handed in before the book is printed, and condenses (or crashes) the schedule down to a nugget of its former self. Some books that are especially timely have been produced in a month. This can be a killer of a way for a publisher to function because every step of the process is rushed rather than carefully planned.
In response to Lynn’s question about viral marketing, it’s when word of mouth (or the Internet)generates “free,” unasked-for recommendations of a book. So, if you read a book, love it, and tweet or blog about your fave new read, you’re part of viral marketing. The hope of every publisher is that so many people will be so excited about a book that it “goes viral,” meaning, like a virus, more and more people get “infected” and feel they must buy the book–and tell others.
I so understand the skepticism about e-readers. As a child, my goal was to read every book in the library; so I’m a book lover from way back. But once I put a Kindle in my hand, I haven’t looked back. Sure, I still appreciate the feel of a book, but reading on a Kindle is a pleasure. I can lie in bed and never fuss over how to hold the book without losing my place; I have the sensation of turning pages; and the words are clear and easy to read. The Kindle does have its drawbacks–no page numbers, harder to take notes (although certainly possibleand easy to highlight passage)–but, well, I’m in love and willing to accept less than perfection.
Okay! I’m hooked. I’m really wanting a Kindle now. But the books will still go with me to the tub.
Thanks for the clarification on crashing and viral marketing. And thanks for sharing all the great info.
Excellent information from BEA, Janet. Thanks so much for sharing.
I’m toying with the idea of a Kindle for my birthday late this month, but am finding a number of authors I read are not available yet (Paul Coughlin, Pat Morley).
I question whether to jump in now or wait and get a newer version at a time when there is a more completely library available. I
don’t see it replacing books for research (take too many notes / tab pages) but for novels and enjoyment reading I think it would be GREAT.
Rich, as Paul Coughlin’s agent, I know he signed an agreement with his publisher to put his books on Kindle (and his publisher had received many requests for his material to be available via e-readers); so keep a look out, they’ll be available soon, I hope.
But here’s the best news: Even though I own a Kindle 1 (bought six months before Kindle 2 came out, thank you very much, Amazon), I can buy any books as they become available, not just books that were available when I made my e-reader purchase. I understand you’re saying you want more of your favorite books “Kindle-ized” before you make the purchase, but hundreds if not thousands of books are being added to the list every day. It’s all unfolding very fast.
Janet, excellent report on what is on the minds of the big CEO’s as well as on all of our minds as we watch the transitions occuring in the industry.
Terry
Speaking of transitions – just saw this:
“E-Readers: They’re Hot Now, But the Story Isn’t Over”
http://online.wsj.com/article/SB10001424052748704328104574519851557848662.html?mod=WSJ_hp_mostpop_read
KC, I saw the same article. It’s clear that e-readers are leading the way to a device that does more than one function (i.e., make books available to read). Maybe Apple’s e-reader that as other apps with be the device that does it all. (It releases in 2010.)
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