"The book publishing industry has entered a period of long-term decline"

[abookreader]

I read it as a "biased IT news source" in that they would be expected to be more likely to report news which is in favor of newer technology based industry over old form publishing methods.

Which might be a good point.

But in this case, my gut says they are right.

I won't say all Publishers are going to fail. But I do firmly believe that they need to adapt. By adapt, I don't mean stomping their feet, throwing a hissy fit, and then trying to convince everybody that the publishing world will end unless we continue to do things their way.

[rogue_librarian]

Originally Posted by 5thWiggle

I believe he meant "accepted"

So do I, and I had thought it obvious. Well, perhaps not. If you were not mocking him, my apologies.

[Daithi]

This story could have been written as "The publishing world is transitioning from print books to ebooks," but instead took the route of "The publishing world is doomed due to the rise of eBooks."

I wonder how many journalist during the turn of the 20th century wrote articles about the decline of the transportation industry as it was being decimated by those damn horseless carriages.

[mr ploppy]

Originally Posted by HarryT

Yes. I do not understand what exception is being referred to.

Accept it makes sense to others.

[emalvick]

The thing I find annoying, and this may be a bigger issue in the book industry than it was in the record industry, is that the publishers attempt at "controlling" (or whatever you want to call it) is actually killing sales by me completely. When I go looking at books and see Kindle editions (and probably any ebook editions) for twice as much as paper-back (which I just noticed on quite a few Amazon books I have on my wishlist), I'm not going to buy either. If I have to read a physical book, I'll definitely use my library.

Charging twice or even more (One book was on paperback for $4.99 and $14.99 for ebook), doesn't keep the dtb industry afloat, it kills the whole book industry, ebook or dtb.

On the bright side, hopefully it will help libraries out. And, I hope independent publishers etc. will come out on top. This seems to be what is happening in music. It is only unfortunate that the great classics of the past get caught up in this scheme... I mention this because it seems that Penguin is the biggest culprit in high ebook vs. dtb prices especially in the classics.

[HarryT]

Originally Posted by emalvick

It is only unfortunate that the great classics of the past get caught up in this scheme... I mention this because it seems that Penguin is the biggest culprit in high ebook vs. dtb prices especially in the classics.

The "great classics of the past" are, on the whole, available free of charge - eg, right here at MR.

What makes the "Penguin Classics" series well worth buying, however, are the truly excellent introductory essays, explanatory notes, etc, that they add to the text, which enormously enhance the reading experience.

[Andrew H.]

While this report may be right (in the same way that a stopped clock used to be right twice a day before digital clocks doomed the analog clock industry), I'm pretty skeptical for a couple of reasons.

First of all, iSuppli focuses on tech, not on publishing. AFAICT, they have no real knowledge of publishing.

Second, they keep talking about "revenue." Businesses don't need revenue, they need profit. It's easy to see publishers keeping the same amount of profit on declining revenue due to lower costs of e-publishing.

Originally Posted by emalvick

And, I hope independent publishers etc. will come out on top. This seems to be what is happening in music.

This is *not* happening in music, unless you are talking about the independent publishers of Lady Gaga, Taylor Swift, or the Black-Eyed Peas.

Originally Posted by HarryT

The "great classics of the past" are, on the whole, available free of charge - eg, right here at MR.

What makes the "Penguin Classics" series well worth buying, however, are the truly excellent introductory essays, explanatory notes, etc, that they add to the text, which enormously enhance the reading experience.

The other issue with the "great classics of the past" in the public domain is the translation issue - many of the classics written in other languages are burdened with PD translations which have not stood the test of time.

[sufue]

Originally Posted by HarryT

The "great classics of the past" are, on the whole, available free of charge - eg, right here at MR.

What makes the "Penguin Classics" series well worth buying, however, are the truly excellent introductory essays, explanatory notes, etc, that they add to the text, which enormously enhance the reading experience.

Well, er, the great classics of the ***LONG-AGO*** past are, on the whole, available free of charge. And many thanks to the MR folks who have worked hard on some really great ones available here!

But stuff from the only SOMEWHAT long-ago past is not available even close to free - as I've discovered due to my decision to use my son's English 11 class as an excuse to make myself re-read (and maybe enjoy this time) some books that were forced down my throat when I myself was in English 11, oh so many years ago.

Take, for example, the book (play) his class is currently reading - The Crucible by Arthur Miller, published in the 1950's, and thus more than 50 years old. Hardly a spring chicken, and yet the "price-set-by-publisher" Penguin Classic e-book is $11.99 - WOW! This compares to $8.94 for a new DTB from Amazon, prices in the $3 - $4 range for new from "second-tier" sellers, and a price of $0.01 for a used DTB from Amazon marketplace. Granted I have to add shipping to the DTB price - unless I can find a "free shipping" deal (fairly common) or I go to my local bookstore. But still, I'm sorry, $11.99 for an e-book of a 50+ year old work is ridiculous, even if it does have some good explanatory notes and essays.

Needless to say, I'd prefer to re-read The Crucible on my e-reader. But, not at $11.99, so I chose instead to find my old DTB from who knows how many years ago in our garage - and I found quite a few other things in the process too, including a few spiders . And, Penguin got squat from our family.

If traditional publishers think they can survive by driving prolific readers like myself (and my son) away with ridiculous e-book prices, I wish them luck. I hope instead that at least a few come up with a pricing model which still captures a fair amount of value from hot/new titles, but also more correctly reflects the likelihood that sales of old/backlist titles may truly be "optional" for many buyers, thus making those buyers quite price-sensitive.

Yeah, yeah, yeah, I know...beating the drum again...but now I feel a little better...

[carld]

"The Traditional book publishing industry has entered a period of long-term decline" is perhaps more accurate.

[CHunter_Author]

The problem with big publishing is they are taking the wrong approach. They should leave the eBook market alone all together. They can't compete with the low prices, the diversity, the speed( 18 months to publication...please), and the high author royalties. They have all ready lost that battle to Amazon, Smashwords, PubIt!, and etc. But where they can compete is on the print side of things. They should just focus on editing services, marketing, and the distribution of print books. That is their strength, they should stick to it.

It could work something like this:

Instead of paying an advance for rights to a promising author or already selling author, they could offer to set up the book for distribution/POD. Do some light editing, graphic work, initial marketing, anything that needs to be done to get the book in professional shape. But this should be a quick process. Say with a two month turnaround more or less. And instead of the author paying out of pocket for these services as with a vanity press, the publisher retains a certain percentage of print sales to recoup the initial expense. But here is where it's different from services such as Createspace. Instead of the publisher taking a flat lion's share fee, they allow the royalty to slide in the author's favor the more the book sells.

Agents will probably be needed to get the numbers just right. But this is a model that's a win-win for all.

For the publisher/distributor:

Low initial investment, faster process, they can cherry pick according to the current market.

For the author:

Retains rights to titles, higher percentage of pay, more creative freedom, no cost editing, and a POD version of their book.

For the retailer:

More diversity to offer customers, and a more efficient shelf.

For the reader:

Better choice selection, overall lower prices for print books (unless the publisher/distributor gets greedy, which will be a huge mistake), and more assertive authority in what they'll find on the shelves.

Not to say that this model is perfect, there's probably some unforeseen flaw or flaw(s) to the plan. But in my opinion, this is the general direction things will have to go.

Or even crazier, what if a retailer like Barnes and Noble decide to buy a publishing house and implement this model themselves? They could dominate. They already have a network of stores world-wide and a self-publishing platform. It would be too easy to have someone email an author and say, "Hey, we notice you are selling a lot of books. Why don't you let us put it on our shelves? We can also get it into some libraries. And so on and so on." Just cut the big publisher out all together. It would probably force Amazon to do something drastic, like buy Borders just to compete.

Just throwing some random speculation out there. What do you guys think will happen?

www.christopherhunterfiction.com

[tubemonkey]

Originally Posted by HarryT

What makes the "Penguin Classics" series well worth buying, however, are the truly excellent introductory essays, explanatory notes, etc, that they add to the text, which enormously enhance the reading experience.

Not at those prices. I can get enough background info to satisfy my needs from Wikipedia.

[HarryT]

Originally Posted by tubemonkey

Not at those prices. I can get enough background info to satisfy my needs from Wikipedia.

That's something we must all make a personal choice about. For me personally, it is worth the money, which is the reason that I have a bookcase full of Penguin Classics.

It's not just a matter of background information. Authors such as Trollope make a great many oblique references to topical events of the day, which go right over a modern reader's head without the footnotes to point out the meaning. Eg, consider this passage from Trollope's "The Warden":

Dr Grantly was blessed with a happy, thriving family. There were, first, three boys, now at home from school for the holidays. They were called, respectively, Charles James, Henry, and Samuel. The two younger (there were five in all) were girls; the elder, Florinda, bore the name of the Archbishop of York's wife, whose godchild she was: and the younger had been christened Grizzel, after a sister of the Archbishop of Canterbury. The boys were all clever, and gave good promise of being well able to meet the cares and trials of the world; and yet they were not alike in their dispositions, and each had his individual character, and each his separate admirers among the doctor's friends.

Charles James was an exact and careful boy; he never committed himself; he well knew how much was expected from the eldest son of the Archdeacon of Barchester, and was therefore mindful not to mix too freely with other boys. He had not the great talents of his younger brothers, but he exceeded them in judgment and propriety of demeanour; his fault, if he had one, was an over-attention to words instead of things; there was a thought too much finesse about him, and, as even his father sometimes told him, he was too fond of a compromise.

The second was the archdeacon's favourite son, and Henry was indeed a brilliant boy. The versatility of his genius was surprising, and the visitors at Plumstead Episcopi were often amazed at the marvellous manner in which he would, when called on, adapt his capacity to apparently most uncongenial pursuits. He appeared once before a large circle as Luther the reformer, and delighted them with the perfect manner in which he assumed the character; and within three days he again astonished them by acting the part of a Capuchin friar to the very life. For this last exploit his father gave him a golden guinea, and his brothers said the reward had been promised beforehand in the event of the performance being successful. He was also sent on a tour into Devonshire; a treat which the lad was most anxious of enjoying. His father's friends there, however, did not appreciate his talents, and sad accounts were sent home of the perversity of his nature. He was a most courageous lad, game to the backbone.

It was soon known, both at home, where he lived, and within some miles of Barchester Cathedral, and also at Westminster, where he was at school, that young Henry could box well and would never own himself beat; other boys would fight while they had a leg to stand on, but he would fight with no leg at all. Those backing him would sometimes think him crushed by the weight of blows and faint with loss of blood, and his friends would endeavour to withdraw him from the contest; but no, Henry never gave in, was never weary of the battle. The ring was the only element in which he seemed to enjoy himself; and while other boys were happy in the number of their friends, he rejoiced most in the multitude of his foes.

His relations could not but admire his pluck, but they sometimes were forced to regret that he was inclined to be a bully; and those not so partial to him as his father was, observed with pain that, though he could fawn to the masters and the archdeacon's friends, he was imperious and masterful to the servants and the poor.

But perhaps Samuel was the general favourite; and dear little Soapy, as he was familiarly called, was as engaging a child as ever fond mother petted. He was soft and gentle in his manners, and attractive in his speech; the tone of his voice was melody, and every action was a grace; unlike his brothers, he was courteous to all, he was affable to the lowly, and meek even to the very scullery-maid. He was a boy of great promise, minding his books and delighting the hearts of his masters. His brothers, however, were not particularly fond of him; they would complain to their mother that Soapy's civility all meant something; they thought that his voice was too often listened to at Plumstead Episcopi, and evidently feared that, as he grew up, he would have more weight in the house than either of them; there was, therefore, a sort of agreement among them to put young Soapy down. This, however, was not so easy to be done; Samuel, though young, was sharp; he could not assume the stiff decorum of Charles James, nor could he fight like Henry; but he was a perfect master of his own weapons, and contrived, in the teeth of both of them, to hold the place which he had assumed. Henry declared that he was a false, cunning creature; and Charles James, though he always spoke of him as his dear brother Samuel, was not slow to say a word against him when opportunity offered. To speak the truth, Samuel was a cunning boy, and those even who loved him best could not but own that for one so young, he was too adroit in choosing his words, and too skilled in modulating his voice.

I suspect that not many modern readers would know, without an explanatory note to tell them, that the above description of Dr Grantly's three sons is, in fact, a satirical description of three prominent Church of England Bishops of the time. Trollope's work is full of such references, and they will completely go over the head of the reader without the assistance of the footnotes.

[tubemonkey]

Originally Posted by HarryT

It's not just a matter of background information. Authors such as Trollope make a great many oblique references to topical events of the day, which go right over a modern reader's head without the footnotes to point out the meaning. Eg, consider this passage from Trollope's "The Warden":

That's true. For years, I thought this verse from Pink Floyd's "Pigs (Three Different Ones)", was a reference to the US President:

Hey you, Whitehouse,
Ha ha charade you are.
You house proud town mouse,
Ha ha charade you are
You're trying to keep our feelings off the street.

I had no idea they were referring to someone I never heard of before - Mary Whitehouse.

[mr ploppy]

Originally Posted by tubemonkey

I had no idea they were referring to someone I never heard of before - Mary Whitehouse.

You don't know how lucky you are not to have heard of that (person).

[mldavis2]

For many of us (retired as I am) on fixed budgets, book expenditures will not change with eBook/pBook pricing. Raise eBook prices and I seek indies and classics when my funds run out. Lower eBook prices and I buy more until my funds run out. Lower (and fair to the author) pricing benefits all of us -- publishers excepted of course.