(IBS is a client of Tech Image)
Unless you just emerged from a Rip Van Winkle-type slumber, you know the publishing industry simply isn’t the same as it was two decades ago. Who would have thought devices such as Amazon’s “Kindle” eReader would not only change the reading habits of millions of people around the world but also become a household name? Heck, when I grew up the Amazon was just a river. Now more people probably associate the name with a $100+ billion dollar company whose eBook sales are worth multi-billions of dollars, and were reportedly up 70% in 2012.
Where once the only real choice for books was hard cover or paperback, customers today expect to be able to receive their content in a variety of formats on different devices. They want to listen to audio online, or download and build their own personal digital libraries.
Unfortunately, all this change has been very tough on the mid-tier publishers. Through mergers and consolidation, large publishers have gained a stranglehold on the publishing industry. And digital content sellers such as Amazon are taking as much as 30 cents out of every dollar of profit for the opportunity to be listed in their online offerings.