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Tuesday, January 29, 2008
Major book pubishers have not been known in years past for their innovation in adapting to online audiences, but after years of investing modestly in the future of online content many print publishers are stepping up their efforts to capture a new generation of audiences who grew up with online content as a given. Elsevier is one major scientific publisher that seems to have picked up their pace of online innovation significantly as of late, Their announcement last week of 10 major reference works being made available online this year was trumped today by the announcement of a new Wiki-based platform that will enable practicing physicians to update evidence-based medical information online. In both instances Elsevier is betting that some titles will do best as online-only reference materials.

Having seen a major response to its making chapters of its Major Reference Works availableonline Elsevier is indicating that two reference titles - the Encyclopedia of Neuroscience and the second edition of Encyclopedia of Ocean Science - are to become
online-only references. Elsevier indicates that other reference titles will be available in print for some period of time, but clearly the trend is to move towards online access that's likely to move people into recurring revenues rather than chancing the publication of expensive reference materials. Knovel showed the way years ago to Sci-Tech publishers with its Knovel Library of online reference content, but now the major scientific publishers are beginning to see that electronic additions are going to become the core of their revenues moving forward it's not just a game for aggressive startups.

Today's announcement of WiserWiki underscores not only the awareness that Sci-Tech publishers have for the value of online reference but also how best to make use of social media technologies to make it valuable to specific audiences. WiserWiki is seeded with The Textbook of Primary Care Medicine, a reference book covering problems, conditions and diseases encountered in the practices of primary care physicians. No longer in print, what better way to keep this grass-roots information about the real world of medicine than to let the physicians encountering these phenomena to update it themselves? This is a great online product strategy, combining authoritative content from peer professionals as a core that can help to build an online community rapidly. Just as Wikipedia did not spring from thin air - it took more than 100,000 articles from an earlier project to get it going - Wikis built for specialized online communities will work best when there's a core of content to help people feel that they don't have to wait for their contributions to be part of something that has collective merit.

Print titles are going to be with us for quite some time to come, but as printing, shipping and stocking expenses fall prey to rising energy and raw materials prices the need for better margins with less risk is pushing book publishers of reference materials inexorably towards "digital native" audiences who have become used to search engines as primary tools for accessing reference content. Obviously other types of titles benefit from this move but for reference works the move is essential if publishers are to keep these products growing and profitable. In the end scientific publishers have much to gain from tranforming their business from one of delivering tomes to delivering content in higly valuable contexts that can drive scientific research and applications forward more rapidly.

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By John Blossom - posted at 12:02 PM
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Monday, June 11, 2007
Reuters notes the steep discounts being promised by book retailers when the new Harry Potter book from Scholastic hits the shelves of stores in July - no surprise, given that Amazon is already offering pre-ordering of the book at a 49 percent discount. With the younger book fans of the Potter series already very Web literate only the most avid fans are going to bother to line up on the release day to snatch up a copy at a bookstore rather than pre-order online. And if that's the case, isn't that what they call a matter of...supply and demand? The book industry is one of the last bastions of supply-oriented publishing that stands a shot at making its margins off of the "tall tail" of high-volume publishing, but implicit in their need to compete with online outlets is the greater need to build margins from "long tail" content - and yes, from Godiva chocolates and espresso - once customers are in the door. But if the most successful book franchise in modern history has become nothing more than a loss leader for long tail books eating up rent, climate control and staffing then the "big box" book stores may be headed to the remainder shelves in their efforts to compete with online content sellers and distributors.

For the time being the movie industry seems to have staunched some of its woes by leveraging available screens to make the most of the unique context - precisely orchestrated opening weekends - that they can offer for their wares. The movie distributors and theatre operators have the advantage of not having to compete with online outlets for same-day distribution with lower overhead and the added advantage that going to the movies is a social activity by and large. But even here the demand to distribute movie content online will push movie theatre operators to many of the same decisions that bookstore operators are facing today.

How to do better? To some degree the book industry addresses this with kiosks in other big-box stores that highlight popular content selections. But both booksellers and movie producers need to get better at making these kiosks centers for consuming long tail content as well as the hits. I can punch in an order at my local supermarket deli counter's touchpad screen to pick up cold cuts after a few minutes of shopping: why can't I do the same and pick up a print-on-demand book or a freshly burnt video? Or better yet, do it online at Amazon or some other outlet and direct the order to my local store for pickup? Zero inventory and shelf space for the retailer, easy profits and the ability to focus customized offers on the person picking up the merchandise. It's coming, don't worry.

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By John Blossom - posted at 11:14 AM
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