Why Publishers Will Still Be Relevant
by Tod on 15/03/10 at 10:06 am
There has been a degree of pessimism about the future of publishing. In fact, I wrote just a few weeks ago about The Inevitable Decline of Book Publishing.
Others have argued that with evolving technologies the publisher will become irrelevant. It will be so easy to self publish that “even a caveman could do it”, to steal a line from GEICO.
I don’t agree. Supporting that view is Jim Selby, CEO of Naxos. Naxos is the world’s leading publisher of classical music. I had a chance to spend a couple of hours with Jim Friday. – A fascinating, courageous entrepreneur that has lead his industry with innovation.
Here are a few reasons why I believe publishers will continue to be relevant. Several of these thoughts are shared by Jim as well. (OK, maybe I even stole a couple from Jim.)
Content Filter – We are skilled at finding the best content. Retailers, whether brick & mortar or online, will still look to publishers to bring them the best content. They want to merchandise what will have the best chance to sell, and we are that filter.
Content Creation – Quality content available in multiple formats (audio, eBook, hard cover, soft cover, etc.) will continue to be important to maximizing a book’s potential. And, that content must be done well. Again, publishers leverage experience to provide a better product in multiple formats. Few authors could do that on their own.
Distribution – An author or an agent could go out and try and strike a deal with the hundreds of brick & mortar and online retailers, but it will not work. There are a myriad of issues that have to be dealt with on a daily basis. That’s what our customer service and sales people do every day. We will always do it more efficiently, because we bring scale to it.
Back Office- Someone has to do all the less visible functions in publishing, such as accounting, credit, production, warehousing, distribution (digital and physical), etc. These are very critical components to successful publishing.
Core Competencies – Most authors’ core competency is writing, not doing the important functions mentioned above. I’ll bet many of them would not want to do these other necessities to successfully publish their works.
Yes, our traditional business book will decline. Other areas of the business are and will continue to grow, especially online retailing and digital delivery of our content. Our job is to adapt so that we can continue to be relevant for our authors and the market.
Do you agree that great publishing is not so easy that a caveman could do it? Enjoy the YouTube below.
Michael Hyatt
Mar 15th, 2010
I agree with all these comments. I am optimistic about our future!
todshuttleworth
Mar 15th, 2010
It should be interesting the POV of the publishing community tommorrow in NYC.
bkahan
Mar 15th, 2010
Although not in the publishing business, personally I will take holding a book in my hands instead of a digital device. Still something to be said about walking into a store and reading the cover, looking inside and feeling the pages turn with your fingers. Highlighting areas of interest. I realize the digital age is coming. But having a Kindle on the table does not give the feeling or the inspiration of walking into someones den or library filled with books. One can almost smell the knowledge.
Self publishing is a reality. The key will not be in the actually printing of the pages, but the service the publisher provides to the author. This will close the gap between, " I can do this myself for less", vs " The service my publishers provides me is fantastic. They were the key to my book being wildly successful!"
I could sell my house by myself, but a Realtor will bring people to my door and increase my chances of a successful sale.
todshuttleworth
Mar 15th, 2010
The realtor example is a great one. There are advantages to doing it every day; building expertise and scale.
Jim Selby
Mar 15th, 2010
Thanks Tod! Your views transcend book and music business and apply to many of the IP/content businesses. Film and gaming are next – soon will be developers. I applaud the successful DIYers but they are few and far between and even they have had to create infrastructure similar to labels and publishers to continue to move the ball forward. We know how we have to move tonnage to make a profit. I simply cannot see DIY model sustainable outside of a fluke project. Our job is to create and maintain a low cost scalable infrastructure with the highest level of expertise and service. This is a sustainable and profitable model.
todshuttleworth
Mar 15th, 2010
Jim – Thanks for being the inspiration for this post. Some day I just want to be half as smart as you are.
todshuttleworth
Mar 15th, 2010
Testing comments.
Joseph
Apr 25th, 2010
It should be interesting the POV of the publishing community tommorrow in NYC.
todshuttleworth
Apr 26th, 2010
Joseph – I guess I shouldknow, but what it tomorrow in NYC?