The Frankfurt Book Fair and German trade magazine Buchreport in cooperation with Publishers Weekly, a publication serving all segments of the US book industry, have released the results of a survey on the impact of digitisation on book publishing.
The survey received responses from 840 publishers across the globe. Just over 72 percent of publishers taking part in the survey said the development of new business models, new multimedia products and effective marketing strategies are the biggest challenges facing publishers as they make the transition from print to digital. What forms the new business models should take and how publishers will charge for content generated no consensus.
Charging readers a flat rate that would allow them access to all of a information provider’s online content similar to a traditional subscription model was favoured by 25 percent of respondents, especially those from Europe. Paying for snippets of content through micropayments was favored by 23 percent. The premium model, under which users would pay for selected online content, found support from 16 percent of respondents. The survey further noted that e-books generated the most revenue, although publishers remain unsure on how to price these titles. The survey found that the majority of publishers support pricing e-books below the price of print books. Only 19 percent said e-books should be as expensive as the print book or more expensive.
Sixty percent of publishers said sales of digital products are expected to represent less than 10 percent of total revenue in 2009, although that is expected to change in the next two years. About 50 percent of respondents said they believe more of their revenue will come from digital products than print by 2018.
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