A Business Model May Emerge, But Will The Product Be The Same?
A music exec fessed up to Michael Arrington recently that the music business was near bottom. I smirked when I read that because the book business seemingly isn’t contemplating a bottom let alone looking for one. Two new imprints came into existence last week. Blago and Kathy Griffin got book deals. The Kindle, Shortcovers and Fictionwise are ascendant. Why worry? Digital distribution was what blind-sided the music business. At least the book business knows what is coming.
Maybe not.
The transition from the CD to the web didn’t transform the product at the heart of the music business. A song is still a song. The book, on the other hand, is about to be blown up.
This week I was introduced to an online learning platform for textbooks. As a student, you can’t link to a particular destination within the platform’s content (if you wanted to reference a page in email for instance) and you can’t search within the book. It was like the whole learning experience was taking place inside a .flv file. It was garbage.
Any company that creates information products — video, text, powerpoint — could easily muscle in on academic publishers by providing something the academic publishers aren’t — a user-centred approach.
Imagining a better textbook made me realize a better non-fiction book wouldn’t be much different. The aspiring business book authors of the world could contract with Duarte Design (Al-Gore-Style), instead of signing a book deal. The prestige would be there. The book paradigm wouldn’t be.
The music exec that talked to Arrington basically said the labels would be ok because the foundation of the business — the artist and the song — was still in their corner. When you start thinking about books as information products, you quickly realize book publishers are maybe third or fourth on the list of go-to information providers. We aren’t bad, but we aren’t the best. Academic and non-fiction houses need to start thinking in terms of excellence in information delivery rather than being best seller machines. To paraphrase Chris Brogan, books are souvenirs for experiences in other media. Open your R&D labs soon.
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