The Printed Page: RIP?

No way, says Dan Poynter, Director of the Book Summit:

We will always have the printed page.

Early adopters purchase the hardcover; most people buy the softcover (it takes a while to hear about the book); the budget-minded wait for the mass-market paperback; the vision-impaired and the reading-challenged prefer the LARGE print edition; the commuter, sales rep and long-haul trucker listen to audiobooks; and airline passengers often read eBooks.

Television did not replace radio, but radio did change. Sitcoms moved to TV and radio expanded with music, news, and sports. eBooks won’t replace pBooks (printed) but the law of economics will prevail. It does not pay to cut down trees, make paper, print books, ship them all over—only to have many come back as returns.

We will always have printed books but the additional editions will make the work available to more people.

POS versus POD

Dan Poynter, Director of the Book Summit, recently shared his thoughts on "print on spec" versus "print on demand:

“On Spec” can be defined as short for "speculation." Work done "on spec" is done for no guaranteed remuneration, in hope of winning the job, campaign or account in question.

Detroit builds cars on spec, some builders construct houses on spec, and traditional publishing produces books on spec.

When cars or houses don’t sell, the price is lowered. When books don’t sell, they are shipped back to be remaindered or pulped. Unsold books have to be eaten; a waste of time, energy and resources.

An alternative is POD (Print On Demand) where books are purchased before they are manufactured. This is the business model pioneered so successfully by Dell Computer. Dell gets paid for a computer before it even buys the parts to make it.

Printing books on spec makes sense when there are many pre-production orders and a realistic anticipation of a large demand. Printing is a quantity game; the more you print, the less the per-unit cost. But returns raise the per-unit cost.

The choice is between POS and POD: print on spec and print on demand.

Alternatives to the Printed Word

Here's what Book Summit Director Dan Poynter had to say recently about what people will be talking about at this year's event:

While the Book Summit discussion is participant-driven, it appears the major issue this year could be the creation and dissemination of printed-book alternatives. Alternatives involve the writing, producing, converting, inventorying, shipping, selling and reading of both eBooks (electronic) and aBooks (audio). Either edition may be placed on a CD or downloaded.

Why? With printing in China, publishers cannot respond to, and take advantage of, a sudden bestseller demand. Sony has debuted a new eBook reader. Sony has clout and a good track record. Infinity and Lulu are producing audio products
on demand now. This may be the year of the printed-book alternative.

Many of my books are in both eBook and aBook format, and I consume a lot of both in my travels. I’ve been experimenting with alternatives to the printed book for some time.

About E-Books

Here's what Bill Frank, Book Summit moderator and publishing consultant, has to say about e-books:

The importance of e-books cannot be overlooked. In their latest book, Five Regions of the Future, Joel A. Barker and Scott Erickson describe the e-book as a '"universal technology," one that will be used by many diverse groups.

In their vision, the e-book is an electronic device that displays text and pictures on a lightweight, illuminated thin screen.

E-books can carry and access enormous amounts of information easily. They replace paper books and save precious resources while providing access to information and entertainment. E-books make it easier for authors to be "published." And e-books allow inexpensive and easy access to the wisdom of all civilizations.

Book Summit 2006: What You Need to Know

NEW YORK, NY – Leaders of the publishing industry are coming together on September 27 in New York City to discuss the challenges publishing faces today for the second annual Book Summit. A seismic shift is going on in the publishing business, digital printing is shifting the paradigm for all publishers and the Internet is disrupting traditional distribution channels. The role of publishers and authors is changing on almost a daily basis and retailers are quickly becoming their own “publishers.”
“The advent and continued growth of print-on-demand, a shrinking review window, limited bookstore shelf space, a staggering amount of books printed vs. the limited readership, and increased off-shoring of printing are changing the face of publishing,” says Dan Poynter, Director of the Book Summit. “Our goal is to come together to offer solutions and find ways to work in this new paradigm.”
The first Book Summit, held in Valley Forge, PA in 2005 was an enormous success, bringing together leaders in the industry to discuss and begin to resolve issues that are changing the dynamic of publishing. Industry experts showed increased optimism about the industry and found that short-run printing is a benefit rather than a detriment to the future of publishing.
The 2006 Book Summit: Industry Leaders Discussing the Future of Publishing in a Flat World will be held on September 27 in New York City. CEOs from POD publishing houses, digital printers, small publishers, reviewers, and associations are being asked to share their views on where the industry is headed. The Summit is by invitation only.

The Book Summit's media contact is Penny C. Sansevieri , who may be reached at penny(at)amarketingexpert.com.