The SoLoMo DEN Thursday, February 23rd.


The Lowry was host to a Digital Editors Network meetup in which the main theme was the exploration of new opportunities and innovation when combining Social networking, Local news and the Mobile platform.

Mobile doesn't seem to appear very much on the publishing horizon but everywhere else it seems to be the next big thing to exploit for business opportunities or worry about depending on where you stand on this ever-changing landscape of change in the media.

Three presentations particularly piqued my interest. The first was a presentation by Sarah Hartley of the Guardian  Media Group. According to the website, "n0tice.com is a new version of a very old idea – a community noticeboard. Users can post reports, offers or events for everyone in their area to see or set up their own noticeboards – become ‘noticeboard owners’. The website focuses on three areas: news, events and offers. Their main selling point is that all the content whether it be news, events or adverts can be filtered according to your location.


<http://tyneandwear.sky.com/>

So Lo Mo Digital Editors Network Meetup

E book distribution models for publishers with particular reference to aNobii.comThis presentation looks at the challenges facing publishers and how they plan to collaborate in order to help each other with the distribution of ebooks.This is a case study on the services provided by aNobbii.com in which I look at the position it takes in the distribution of the ebook market and the integral role of publisher in this model. Anobbi.com are soon to relaunch their social networking site for book lovers and plan to make e-commerce an integral part of their site. New and improved networking features will allow users to go straight from discovering the new book to purchasing it from the same site. Anobii has seen some serious investment from some of the biggest publishers in the country and in return they get to sell their own ebooks direct to the buyers as well as getting access to valuable data on readers' interests and buying habits. This is an ebook sales channel in which the publishers call the shots and have a real stake in its delivery. Whether it will stand up to the competition of Amazon's kindle and Apple's iBookstore remains to be seen. But it is a step in the right direction.

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Assignment 1 Business Presentation

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SMEs...the Innovation!

Small and medium enterprises (SMEs) comprise 99.9% of all European businesses. Such SMEs account for 90% of companies within the publishing sector. Clearly SMEs are pivotal components of the European economy. The importance of SMEs within the publishing sector across Europe has been recognised by political and economical figures.

Government backed and private funding initiatives are being made available to ensure that small and medium enterprises are able to maintain their level of creativity and continue to be the backbone of innovation within the European economy as a whole, but specifically within the publishing sector. “We recognise that by improving the incentives for companies to innovate they will continue to create life-changing products to drive further innovation and growth.” (Cable, 2011)

Evidently with small and medium businesses comprising such a dominant section of European economy, particularly the publishing sector, helping to keep them growing is the key to current media innovation.

Unbound - Crowd-sourcing meets Publisher

Unbound’s ambition is to make the existing online crowd-funding model Kickstarter work for book publishing. Kickstarter is a funding platform. It lets a creator sign up and ask for a specific amount of funding for his/her creative project, if this is reached then the project goes ahead. Unbound works almost identically for books, except that it places emphasis on curating the end result. Editorial, design, and distribution processes still take place once the book is written.

This makes for an innovative business enterprise along the lines of process innovation, which improves upon the increasingly popular crowd-funding and self-publishing models. Authors and readers have greater control over what gets published, whilst at the same time through several aspects of traditional publishing there is a greater degree of quality control and a greater likelihood of finding a market.

Unbound can also be considered a product innovation because subscribed readers when they pledge are treated to a “literary package” containing updates, interviews, sample chapters and rewards such as their name in the back of the book and lunch with the author. Readers are arguably being sold a more comprehensive literary experience instead of a single book.

The main flaw in Unbound’s innovative model is that they are not currently in the position to accept unsolicited manuscripts. So far they have predominantly been funding experimental projects by well-known authors that bigger publishers do not see as marketable, such as Kate Mosse’s Chichester Festival Theatre. Unbound do plan to “build a mechanism for unknown authors to make their pitches before moving over to the main site,” (Watters, 2011) and once this is achieved the true innovative potential of the model will be realised.

This video is an interesting introduction to the concept of Unbound: http://www.youtube.com/watch?v=de9CQA7G6vk

This article is also a useful resource: http://www.fastcompany.com/1769453/unbounds-spine-tingling-effort-to-reinvent-book-publishing

Watters, A. “Unbound Aims to be the Kickstarter for Book Publishing” ReadWriteWeb 30th May 2011. Web. 15th March 2012. < http://www.readwriteweb.com/archives/unbound_aims_to_be_the_kickstarter_for_book_publis.php>

Innovation in a business model

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Pottermore: Innovative Distribution Process

'Pottermore' is the unique collaboration between the Harry Potter creator and Sony to develop an innovative website that aims to enhance and expand the readers’ experience, and, more importantly for the publishing sphere, act as a distribution forum for the eBook versions. This new website aims to complement the novels and provide backgrounds to minor characters, act as a community for fans to discuss and explore the literary phenomenon, including the opportunity to 'role play' as a 'Hogwarts' student, and exclusively purchase the sought after eBook versions of the seven stories. The opportunity to purchase the eBooks exclusively from the site has caused uproar in the publishing sphere, with bookstores being removed from the equation and resenting the missed opportunity to profit from a series of books they worked hard to promote.  In addition to this, the eBooks, although supported by e-readers, cannot be bought on websites that support the hardware (eg. Kindle users cannot purchase the eBooks from Amazon, which is a first for eBook purchasing!) ‘Pottermore’ acts as an example of a business model that may find itself being increasingly implemented by publishers globally as a way of removing the costly distribution process from the equation. 

Flipbacks - Book Innovation in a Digital Age

Flipbacks are an entirely new book format, innovated by a bible publisher in the Netherlands in 2009 and called the 'dwarsligger', followed by the 'librinos' in Spain, 'Point2' in France and finally in June 2011 Hodder & Stoughton introduced the 'flipback' book to the UK.

They are six times smaller than the average book, weigh just 5.11 ounces, have a flexible spine, are opened vertically and printed on very thin paper. All this considered, they are more compact and portable, lighter to carry around and can be held with one hand. This is a great advantage for multi-taskers and frequent travellers, but also bookshops.

Bookshops will benefit from the flipback as they can store more stock in a smaller space. Waterstone's in particular appear to be storing it on the counter top, possibly to save floor space or as a point of sale marketing opportunity, if this is so then this is a mutually beneficial relationship between the flipback book and bookshops as it is also drawing every customers eye to them.

Within the 4 P's model, a flipback book is a product and it is incremental innovation rather than radical innovation as while it may not change the face of the publishing industry, it is certainly an improvement on what is slowly but surely becoming an obsolete reading material...the book.

Flipbacks - Book Innovation in a Digital Age

JN4110 Flipbacks Book Innovation in a Digital Age

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More publishers plan to collaborate

Further to my post on publisher collaboration, today the Financial Times published an article on the topic, indicating that it is not only trade publishers innovating in this area.

The Association of Online Publishers (AOP) is largely comprised of the digital arms of traditional media companies including News International, magazine publishers such as IPC, Bauer, Condé Nast and Haymarket, and TV broadcasters ITV, the BBC, Channel 4 and British Sky Broadcasting.

The AOP annual census of UK members revealed that 72 per cent of the companies surveyed are either collaborating and building partnerships with similar publishers, or plan to do so, as they grapple with the new digital landscape and the challenges arising from the dramatic decline in advertising revenue.

AOP Director, Lee Baker, said “Publishers are coming together to understand how they can work collaboratively, we are seeing more of that on a much more sophisticated level … lots of businesses are simultaneously moving into very, very new territory, which is driving this approach.”

The article is available at: http://techcircle.vccircle.com/500/publishers-collaborate-in-digital-drive/

Mining the Literary Middle Ground

Byliner

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Starting in the fall of 2010, a new world began rising of shorter, digital e-texts aimed at readers with little time, attention and a big taste for reading. These works are short books or long essays and are often called ‘long-form’ stories (Timpane 2011).  Byliner is a social networking site and digital publishing company which specialises in these works of fiction and non-fiction and is part of a recent trend in renewed interest in long-form, fuelled, in part, by blogging and short news articles becoming the “genre du jour” (People’s Insights 2011). But what happened within the publishing industry to trigger this ever-growing trend? Most importantly, innovations in new technologies and business processes have disrupted the traditional models and methods of publishing, rendering old models obsolete (Kaye and Quinn 2010, p. 19). In other words, traditional models of publishing have broken down due to developments in technology such as e-readers and apps, and also due to the present recession, which “speeded up the process exponentially” (Kaye and Quinn 2010, p.19).  However, John Tayman, Chief executive Officer, viewed this as an opportunity to innovate rather than a threat to the industry he knew so well. Thus, he began to develop a number of business models to work alongside these economic and technological changes; for example, aggregation and distributed media.

Bessant and Tidd say: “Innovation is driven by the ability to see connections, to spot opportunities and to take advantage of them […] for example, by exploiting radical new breakthroughs in technology” (2011, p.7). Byliner does so through being not just a publisher but “a hybrid between a publisher and a site that enables social interaction around content” (Heddaya 2012). Byliner not only exploits developments in social media to create a customer base, but a radical development in e-text formatting pioneered by Amazon: the E-single.

Bessant, J. R. and Tidd, J. (2011) Innovation and Entrepreneurship, 2^nd Edition. Chichester: John Wiley.

‘Byliner.com’. (2012) People’s Insights Vol. 1, Issue 5. MSL Group. 3 February. [Online] Available from: http://blog.mslgroup.com/byliner-com-peoples-insights-volume-1-issue-5/ [Accessed 16 March 2012].

Heddaya, M. (2012) ‘A Discussion With Byliner’. American Circus. 23 February. [Online] Available from: http://www.amcircus.com/arts/a-discussion-with-byliner.html [Accessed 23 March 2012].

Kaye, J. and Quinn, S. (2010) Funding Journalism in the Digital Age: Business models, strategies, issues and trends. New York; Oxford: Peter Lang.

How to innovate?

Apps for English Learners

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The Apps for English Learners are one of the examples of an innovative approach of the Cambridge University Press. They have taken an existing product, ELT books and have delivered them through a new platform, those being Apple’s iPhone, iPad and other competing Smartphones. This has resulted in the opening of new mode of distribution and has thus captured new readers. Although their main aim is to disseminate knowledge, and their policy allows them to make losses, apps are already a new source of revenue for the Press and exist in a symbiotic relation with the publications that they are based on. It is due to the fact that CUP understands the power of having a sufficient marketing strategy that is tailored to the individual product that enables it to be promoted successfully. Their approach can be seen as an incremental innovation within the established framework of sources and audience. In producing apps they are utilising a prime opportunity to make their materials more attractive for the user at the time whenthe market is highly-competitive and the reader is becoming more demanding.

Presentation: Bloomsbury PLC and Public Library Online

Presentation: Bloomsbury PLC and Public Library Online

Bloomsbury PLC and Public Library Online

In my case study I am analysing Bloomsbury PLC and one of their digital platforms, Public Library Online. 

Bloomsbury's Chief Executive, Nigel Newton, says that the digital age has enabled the company to focus on innovation, inventing new revenue streams and business opportunities where previously there were none. Bloomsbury is moving away from reliance solely on the traditional market for profit and loss through publishing a book, and instead towards an entrepreneurial style of operation with management contracts and business-to-business projects. 

Public Library Online enables Bloomsbury to target an existing market of readers, but direct to the consumer, and it is also an interesting example of working with the 'frenemy', generating revenue by hosting the content of competitor publishers. 

Bloomsbury is in the early stages of the innovation cycle and the idea of collaboration is just one of many new opportunities that the company is taking forward.

As of 2012, the content of fourteen publishers is offered through the platform, including titles from Canongate, Faber, Macmillan and Quercus. Public Library Online is a lucrative enterprise for Bloomsbury, since because it acts as an aggregator with a basic contract between itself and a publisher, revenue is split 70/30 with the majority allocated to the publisher and the remaining allotted to Bloomsbury. However, when the titles are Bloomsbury’s own, the company retains 100% of the revenue.

The platform’s success has encouraged Bloomsbury to initiate more collaborative projects such as Drama Online, "the ultimate online resource for plays, critical analysis and performance for libraries, educators, students and researchers" (Drama Online), a digital content platform being developed in partnership with Faber and Faber Limited. The publishers plan to work with additional competitors to target academic institutions and, like Public Library Online, the platform will use a subscription business model.

 

It is estimated that Public Library Online’s net revenue has increased from approximately £20,000 in 2010 to £60,000 in 2011, which is a 200% increase year on year. Such results may persuade other publishers that innovation in collaboration is the way forward, and Bloomsbury’s Digital Media Director, Stephanie Duncan, will be speaking at the London Book Fair in April to discuss “how publishers are collaborating with each other, with authors, with brands - to expand the market by making the most of their content; and how are they using online communities to achieve this” (London Book Fair).

References

Bloomsbury PLC. Interim Management Statement. 16 Jan. 2012. Web.

     Accessed 28 Mar. 2012.       

<http://www.bloomsburyir.co.uk/html/media/press_releases/160112.html>

“Competition vs Collaboration: Trade Digital Publishing Initiatives Inspired  

     by Working with the Competition.” London Book Fair. Web.  

     Accessed 28 Mar. 2012.    

<http://www.londonbookfair.co.uk/en/Sessions/257/Competition-vs-Collaboration-trade-digital-publishing-initiatives-inspired-by-working-with-the-competition>

Drama Online. Web. Accessed 28 Mar. 2012. <www.dramaonlinelibrary.com>

Freemium Publishing Presentation

Freemium publishing presentation

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The Drawback of Freemium Publishing

The drawback of Freemium Publishing, as highlighted by Gobry is that in order to generate a profit you require a lot of repeat users who would be willing to spend money on reading a serial. This means that this business model will not produce an income in the early years, while gaining readers. Hence in order for a publishing company to attempt this business model, they must be prepared to take the risk of losing money.  This ultimately means that this business model may not be attempted by smaller publishing houses, which will not have the resources to spare.

In China, Shanda Literature who provides Freemium publishing is a subsidiary of Shanda Interactive Entertainment Ltd; hence they can afford to run their Freemium Publishing site at a loss in the early years. Furthermore Shanda Literature makes a profit from its e-reader, the Bambook (Sun) and benefits from its relationship with China Mobile. 

Prior to a UK based publisher bringing the Freemium business model to the UK they should examine the successful Freemium providers in China with a view to harbouring similar relationships with mobile phone providers and facilitating the reading of Freemium literature through e-reading devices provided by them.

Gobry, P. “Explained: what is The Freemium Business Model?” Business Insider WebApril 8 2011 2.59pm. http://www.businessinsider.com/what-is-the-freemium-business-model-2011-4

Huang, W. “Shanda’ Stunning Success”. Publishing Perspectives. Web October, 16 2009.  http://publishingperspectives.com/2009/10/shandas-stunning-success/

Sun, H. “Publishing in China – Freemium Fiction”.  26 October 2011 http://blog.publishingtechnology.com/digital-solutions/freemiumfiction/

Amazon's Kindle Fire

The purpose of my case study will be to investigate Amazon’s Kindle Fire.  It will aim to explore why the Fire is considered to be so innovative – what exactly is it that makes the Fire different?

The Kindle Fire was released in the USA in November 2011 and was hailed as a pioneering new tablet.  It is a clear example of Product innovation.  Before the Fire, Amazon had only produced e-readers, and the Fire is their first actual tablet.  However, it is not simply product innovation.  There are several elements to the Fire, and the services surrounding it, which reveal more than this.

For the purposes of this case study I chose to examine three main factors of the Kindle Fire that I believe make it innovative: the Fire as a product in itself - both its specifications in comparison to other tablets and its low price; the use of the Fire as a way for customers to access Amazon content; and Amazon Silk, the Fire’s web browser.  The case study finds that these three components, in various ways, actually cover all four of Bessant and Tidd’s types of innovation – product, process, position and paradigm. 

It will conclude by examining the reasons that the Kindle Fire has only been available in the USA so far, and will look at what the future holds for Amazon in the tablet industry.

Please see my slides:

http://www.slideshare.net/sammyp981/presentation-12162975

Case study: Cineworld Unlimited Magazine on Apple Newsstand

My report will look at Cineworld’s new iPad version of their Unlimited magazine, and how it aims to place itself on the Apple Newsstand as a free competitor to paid-for film magazine apps such as Total Film and Empire.

Unlimited magazine already boasts a print version with a monthly 400,000 print run, and a digital web version which has 640,000 subscribers. The creation of Apple Newstand in October 2011, a centralised portal for newspapers and magazines on the iPad, has boosted digital magazine sales significantly. At the same time, Shortlist Media have proved the strength of the ‘free’ advertising powered model for magazines.

Without changing much from their web version, and despite a smaller and less reputable editorial team than Total Film and Empire, Cineworld’s free offering could steal a number of iPad customers from these titles, in one example of the ‘free’ model disrupting magazine sales across the industry.

Cineworld Unlimited magazine on Apple Newsstand

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Case Study: MagCloud

Below is the outlining premise of my case study of MagCloud.  If anyone has any questions or points of advice feel free to direct them to hametcalf@uclan.ac.uk 

Case study 1

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My case study: Bookboon

Bookboon presentation

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The subject of my case study will be Bookboon, the Danish publisher of academic and business textbooks. What makes Bookboon's books different is that they are all available completely free; the company generates revenue by offering advertising space in its textbooks. 


The advertising space is particularly attractive because of it can be personalised. The textbooks are downloaded as PDFs (they are only available digitally, although there are no restrictions on printing the downloaded file). Into the PDF, adverts are automatically inserted depending on the course of study and location the user submitted when they registered. If a student said when they registered, for example, that they are studying Law in the UK, they could expect to see adverts for graduate recruitment schemes at UK law firms or further courses of study at British universities. In Germany, where Bookboon has become especially popular, the adverts can be personalised on a state-by-state basis.


There were 11 million downloads from Bookboon in 2011, and Thomas Buus Madsen, the company's COO, says he sees “no reason for us not to hit 50 million by the end of 2012.”


More informartion can be found here:

http://bookboon.com/blog/2011/09/bookboon-com-featured-on-bbc-news/

http://publishingperspectives.com/2012/03/is-denmarks-bookboon-the-biggest-e-publisher-on-earth/

Marketing - ROI and Social Media

In the past 15 years the web has become a massive platform for advertising and naturally companies want to be able to prove its effectiveness (though none would deny it works to some extent). On the one hand the internet provides better analysis of this than say a traditional billboard, since web analytics, the most famous of these being Google Analytics, can tell you how many people have seen an ad on a page, and how many people have clicked it, whereas it would be more difficult to count how many people had walked past a billboard. This measurement however becomes more difficult when we try and measure the impact of social media since it is more difficult to know if a conversation on twitter for example results in a sale. However, many have argued, and I would agree, that social media has highlighted a division in the word marketing between sales or ‘getting the message out there’ (depending on how you define it) and the concept of ‘communication’. While still undoubtedly marketing to some extent, social media allows you to build a community around your brand. It is interesting to come to this from the point of view of magazines, since above all products they have been built upon community and conversation, with their inclusion of letter pages, competitions, reader Q & As etc, so it is fascinating to see these types of communities being built up around more traditional products for example the Starbucks Facebook page etc.

Web Analytics

In order to ascertain how successful our class blog is we can use web analytics to see who is viewing our blog, when they’re viewing our blog and what content they are viewing. Google Analytics can be used to provide answers to these questions as they have various functions which display the viewing statistic of our readers, for example, their click-able heat map shows where our viewing traffic is coming and their graphing tool allows you to see viewing trends.

In order to make our blog more findable Google analytics suggests that even small changes such as creating a landing page (this is an entrance page which sets out to readers what information our blog will contain) can make a difference. We could use Google analytics to prepare a landing page and within this page use key words that could draw readers in. With reference to our individual blog posts, changes such as catchy title headings will make our posts more findable.   

It is all about data

For better understanding of the influence of the Internet, especially social media, on our business one needs as much data as one can receive. There is a need for measure of input, engagement of the customer in order to generate revenue. We have a special tools to do so, for instance, Web Analytics can be extremely useful for various types of users; publishers, advertisers, websites owners as well as writers. It can help with estimating how well our content works, if it works at all, by displaying how many visitors our website has received and whether or not they interact with the material. This knowledge can help with improving the content; make it more visible within the network. It is one of the options that help to market our product/service. Learning apps can be a good example. They need a different marketing approach than printed books in order to increase their sales ability. The higher they will be ranked by the search engine the more chances we have to sell them. Findability can be improved by knowing our customers: what they look for, how and where they look for it. Web Analytics or similar tools can be a solution for finding the answer to these questions. The more we know the better results we can achieve.

Social Media Marketing

Marketing is a vital part of any publishing company and today, the Internet can provide an inexpensive solution for marketing strategy for publishers.   Social networking and blogging mean that more often people are sharing their opinions online, and publishers can use these sources to develop their brand and their relationship with consumers.  When a brand is mentioned online, whether via a blog, Twitter, Facebook, etc… it is building your awareness of that brand and such marketing is invaluable.  It is essentially word of mouth on a huge scale, and any business, publishing or otherwise, that does not create some form of web presence, is missing out on a huge amount of free marketing.                            

Marketing

Businesses tend to sell things that have a history of selling well, however, in doing so they risk missing new opportunities.  In the business of publishing, managers tend to sell to the customers they already have.  In the lecture we discussed the fact that it would perhaps be beneficial for publishers to try and expand their markets and sell to people who do not often read and buy books, as this is a huge market that they are missing out on. It could be argued that the new digital age and the book apps it has brought about is contributing to widening their market, as people who may not buy a lot of books might be more interested in a book app.

Marketing

Businesses tend to sell things that have a history of selling well, however, in doing so they risk missing new opportunities.  In the business of publishing, managers tend to sell to the customers they already have.  In the lecture we discussed the fact that it would perhaps be beneficial for publishers to try and expand their markets and sell to people who do not often read and buy books, as this is a huge market that they are missing out on. It could be argued that the new digital age and the book apps it has brought about is contributing to widening their market, as people who may not buy a lot of books might be more interested in a book app.

Marketing

Marketing can be seen differently by different people; on the one hand it can be simply selling a product once it has been created. On the other hand it can be seen as communicating a product’s worth or value proposition, so that a customer is aware and hopefully feels in need of its existence. This latter way of seeing marketing has become more important in the development of the internet, where thanks to social media, marketing has become more of a conversation with the consumer. This can be taken a step further since, as was said in the lecture, thanks to the internet we are now ‘co-creating the market place’ with the consumer since, for example, a review of a book by a customer on Amazon can market a book just as well, if not better than the publisher’s product description above it.

Marketing is more than just selling a product once is has been created because often the foresight as to how one will market a product can often determine its development and even its creation or type of innovation. We discussed whether publishers should be looking to sell products to existing markets or to new markets. Depending on the decision taken by a publisher, this could determine the type of product created and in what medium for example the now common concept of developing new markets creating books for purchasers of the ipad who may not tend to carry a book on the train but may be willing to read on their device.

Marketing Strategy and Social Media

The readings from Monday’s seminar have highlighted the importance of Social Media Marketing. Today, businesses are realising the importance of their pull marketing strategies. As opposed to the traditional push methods where activities centre on getting the product in front of clients, the pull methods encourage clients to seek businesses out and find out if they have anything of value to offer them. Social Networking and blogging are today such crucial methods. We are living in a society of active, media-savvy consumers who are more likely to respond to discussion and dialogue, where they can share their opinion and foster relationships with brands.

Whilst businesses are keen to measure the ROI from such operations, Hoffman and Fodor encourage them to change their traditional way of assessing ROI. Building relationships with consumers via social media they argue, takes time, because it relies on interactive and on-going conversation. It is perhaps less useful to just say “show me how my company’s tweets will improve sales next quarter” without considering consumer investments: time spent with the application, number of updates and comments. These investments could measure the fulfilment of key marketing objectives such as how much consumers are engaging with brand and finding out about new products. Tying social media activity with direct sales is difficult, but turning attention to customer investment delivers information about short term and long term success.

Experience Economy

Pine and Gilmore’s articles asks the question should we be charging customers for experience.  In relation to publishing this is of importance, as though customers visit high street book stores to browse through books or purchase coffee they then choose to buy their books online. As Pine and Gilmore point out there are many shopping experiences which charge for entry, such as festivals. In England for example the Taste Festival charges an admission fee to enter the grounds and thereafter you pay to taste the food or buy products. Can high street bookstores learn from this and develop a similar model?  Pine and Gilmore propose that before you can charge for the experience you must design an experience worthy of the price, so the book store must offer new services to the customer which allows customer participation. These services can be entertaining, educational, escapist, esthetic or all four.  Furthermore they must engage the senses, be memorable and be continuously updated to ensure repeat customers.

                                     

Pine, B.J. and Gilmore, J.H. (1998) Welcome to the Experience Economy.  Harvard Business Review, July/August, 97-10