The current publishing market is in a state of flux and this is due to the massive impact of the digital revolution. Other media markets have already started to capitalise with digital, such as the music market and newspaper industries. However, compared to MP3 s and on line newspaper access, eBooks are relatively new and so Publishers are still working out the best ways to capitalise on them.
As with these other markets, it is imperative for the publishing market to change and adapt to the current landscaped and consumer needs. Innovation is crucial otherwise the industry will fail. The current economic climate has shown that markets such as the book market have to offer the customer something of value, cheaply, as there is now less disposable capital than before. A cheaper way to produce and distribute is absolutely crucial.
However, eBooks can be produced at home and so not only are publishers wrestling with cost of sales but also with a lack of authors, who are instead self publishing. However, there is a plus side to this new change in the industry, and publishers just need to utilise it. Due to the digital revolution, Publishers can now interact directly with their audience and customer base. Social networks have created an increasingly connected Publishing landscape. The proof of success however, will show through how Publishers use this connectivity to their audience and begin to understand directly their market needs.
Innovation will always happen in business. It is however, not enough to just recognise it. For Publishers to comletley be immersed in this new change to the industry, they have to understand it and become immersed in it.
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