Funky Monday.
Today I ran across and shared two recent articles from the Globe and Mail at work. One being that the Globe and Mail was opening up its business model, and the other being that the Metallica was endorsing a new way of doing business on the web (but really it’s not that new).
I was asked … what does this mean?
It’s just what I’ve been stating over and over again. Book publishers are no longer able to be purely book publishers. Technology has provided a way for different forms of media to converge — take a look at the iPod (and other new mp3 players) or even newer ultra portable laptops like the Asus EEE. This means that your product must be flexible and adaptable (mostly figuratively speaking, although literally would be nice too). This doesn’t mean you can’t have a printed book, but rather that any static product is pretty much obsolete.
Sadly enough, publishers actually have a choice to focus on their core business or diversify. Their core business is typically the reader that literally consumes books at an incredible rate. The funny thing about this market is that despite that consumption level, book publishers still pump out way too many books and overwhelm that market. We expect slower readers or occasional readers to pick up the slack but it just doesn’t happen. Why? I don’t think we really put enough thought into the value of the product — what the customer wants or desires. A customer doesn’t necessarily know what they want but customers are smart. They have and will find more ways to ensure they are getting the best value and experience for their money. If a book uses cheap paper, they know. If we don’t invest time into a book cover, they know.
Production values are interesting because they appear to me as very similar to school work (remember that?). When we don’t put in the time and thoughtfulness into a project, it really shows.
Movies and music are two types of products that have been forced to continually re-examine the way they sell their product. In the late 90s, movie cinemas began raising prices after creating bigger screens and sound systems in order to improve the customer experience. Did that bigger screen and bolder sound help the movie industry? Yes but not necessarily as good as it could have if it were introduced earlier because it coincided with the increase of movie rentals. But the cash kept flowing because people were still interested in seeing a movie on the bigger screen.
Fast forward to 2001 and the mass adoption of DVDs. The bigger screen is in decline. Why? Because the customer experience has changed. DVDs now provides greater value directly into the hands of the customer than a night at the cinema. That and the seven reasons that The Big Picture lists out in an old blog posting. Will the DVD sales decline? Potentially as legal and DRM-free digital downloads become prominent, while pirated DVDs continue to propagate. Toss into the mix far-reaching/long range cellular frequencies and an uncapped/unlimited wireless connection — the movie purchasing equation will be altered forever.
Despite the long and controversial existence of the mp3 file, the music industry has been very lucky in the sense that the mp3 itself and Apple’s iPod infused the customer with a sense of power and freedom that they had not felt before. Sure it caused chaos on the sales of CDs but what really has happened is the resurgence of interest in a wide-range of music regardless of time. Cut the waste (i.e. CDs and albums), focus on the music itself, give the customer the freedom to do what they please with the product sans the packaging, a lower price point for the work they do (i.e. pick and choose individual songs) and they will come back for more to do more. People want to be able to customize their own little jukebox full of music and they want to do it in their own way.
Now with books, add on the fact that Acrobat 9 is about to be released and as Mark puts it, it’s a game changer. The ability for rich media to be embedded within PDF files has arrived. Can’t figure out what that means?
What if you could be read a book and watch movie clips as part of the story? What if you could interact with the characters? What if we could draw our own animation — upload it to the book and share it with other readers? Or on a particular connection point over the internet where all other readers of a book could meet up? What if we could discuss an idea directly within a book with all other readers? Can you imagine what it will be like in the future? Take a look at the introduction of Disney’s Treasure Planet. These ideas aren’t taking away the essence of a book; they are enriching what’s within every book — far beyond the means of text on a page.
