Future of Print Publications Waning

Newspapers are falling under the heavy axe wielded by digital media. Niche print publications have experienced a similar fate. Now, hardcover books are being threatened by its menacing blow. 

Amazon is reporting that, for the first time, sales of Kindle editions of books have exceeded hardcover. 

"Amazon says that, 'over the past three months, for every 100 hardcover books Amazon.com has sold, it has sold 143 Kindle books. Over the past month, for every 100 hardcover books Amazon.com has sold, it has sold 180 Kindle books,'” reports Mashable. 

Amazon says the trend continues to accelerate. That's groundbreaking. It portends the future. 

What factors play a role in the evolution of this new digitally-inspired landscape?

The canvas has changed. Trend watcher Steve Rubel says we are experiencing the end of the Web as we know it. By that he means that the canvas upon which we choose to view the Web has morphed from the PC to the "PDA." The Kindle, iPhone and iPad are game-changing devices.

Consumption has changed. As a result, the manner in which we consume media has changed as well. After all, these devices are intended mainly for consumption, not production, and the quality of the viewing experience has made it much easier to read books, magazines, or anything heretofore relegated to print.

The cost has changed. I can purchase a Kindle edition of my book The Digital Handshake for much less than I can the hardcover. It's more portable and takes up less space than several books and can hold hundreds, if not thousands, of books and digital documents. 

Choice has changed. iPhones, iPads, etc. are a virtual tabula rasa. "Every time I turn on my phone, my finger needs to decide what's more important to me at that time -- friends, work, entertainment, etc," says Rubel. 

How do we respond?

Depends on the definition of "we." For consumers, these new devices open an entire world of possibilities. The last time I checked, there were more than 140,000 iPhone apps. TechCrunch reports that, as of April, there were over 3,000 iPad apps, a number that grows daily. 

While owning an iPad is still a luxury for many of us, the budget-conscious can scoop up a Kindle for as little as $189 or a Barnes & Noble Nook for $149. (And, then, there's always eBay where you can find these even cheaper.)

On the other hand, if you're a publisher or bookseller, it's time to rethink you're entire business model. While I can't imagine walking into a Barnes & Noble or Borders and not see the shelves lined with books, as sure as I'm sitting here that day will come. (Sucks for autographing a book!)

Seth Godin, in a recent keynote to the Independent Book Publishers Association, said that almost the entire face of the industry is changing. Out of the five things he suggests book publishers have done to build their business, only one remains, curation. Either they have to adjust their sails to the prevailing wind or go the way of the music industry, which seems incapable of adopting to this new media mindset.

Here's the entire presentation. It's well worth a listen. 

Seth Godin Keynote Presentation

If this is the state of print media today, what will it look like in five years, or ten? Substantially different I'm willing to bet. What do you think? 

Comments

[Donna Clayton Lloyd]

Just the thought of not being able to hold a book in my hand--- with all the cover art -- just kills me. And-- to think of not being able to go to Barnes and Nobles and SEE them--- feel, preview, etc. How will I know what I want to buy without that 'fix". Most of all- -the ambiance. But--- now I'm going to think about what the new world will look like and how I can get ready for it!

[Tom Nolan]

I think there will always be a small market for books for two reasons..your always gonna have traditionalists who refuse the uptake of new technology and two..there comes a point when you get sick of staring at a screen with computers at work, tv's at home, phones to text, sat nav for directions. This can happen to anyone and books give a welcome break from this, so while i agree sales will drop dramatically i'm sure there still will be hard copies just in tiny volumes!

[Bill]

Books will never go away, just as paper and pen won't. There's something very visceral about having the tangible in hand. Plus, last time I checked, my paper didn't crash :)