Those of you addicted to your Kindles, Sony Readers, Nooks and Aztak Readers suffered a set back today when Simon & Schuster announced it will delay the eRelease of 35 lead titles due out in 2010. Instead of simultaneously releasing the hardcover and eReader versions, they will be delaying the eVersion for four months. Lagardere SCA's Hachette Book Group has similar plans in the works.
Carolyn Reidy, CEO of Simon & Schuster stated that "The right place for the e-book is after the hardcover but before the paperback." She added, "We believe some people will be disappointed. But with new [electronic] readers coming and sales booming, we need to do this now, before the installed base of e-book reading devices gets to a size where doing it would be impossible."
As the eBook market booms in a way that the print market dreams, Simon & Schuster’s decision appears to be a major step backwards. This short-sighted move slights those who have invested $175 and upward for the right to tote a complete library in their pocket.
Do these two publishers honestly believe that eReaders will pick up a $25.00 hardcover copy of the book to avoid the delay in reading? Many think not. Instead, they’ll spend their $9.99 on two other books, and if they remember the name of the book they had once wanted four months later, maybe they’ll spring for it. By disenfranchising eReaders, they are not gaining hardcover readers, all their doing is losing potential customers.
eReaders are a hot gift this holiday season – the Kindle is Amazon’s top seller, Barnes & Noble’s Nook is back ordered into January, and Sony’s eReaders are doing well in the brick and mortar stores. Factor in the folks who are reading eBooks on their iPhone or Blackberry, and you’ve got a booming market that’s being treated as second class citizenry in publishing’s effort to eke out ever possible dollar from readers.
Publishers should be embracing eReaders, finding ways to make them better customers instead of looking for ways to inconvenience them. eReaders are Readers, people who buy books. In fact, eReaders buy more books than those who walk into book stores.
What the industry should be doing is re-evaluating the royalty structure and its own pricing methods. Unless publishers are prepared to invest in the eBook launch in a way similar to the initial release of a book, they will be missing another way to capitalize on their product.
It seems clear that the publishing industry has failed to acknowledge the substantial changes that happened in the music industry in light of digitalization. As eReaders become more mainstream, publishers are at risk if they don’t develop more flexible, user friendly modes of reaching all readers. One hopes this will be the case.
Comments
This has to be one the most lame-brain stupid ideas ever in retailing, ever!
Here is my take on this most boneheaded of retail moves see posterous / tiltingatwindmills
"We believe some people will be disappointed. But with new [electronic] readers coming and sales booming, we need to do this now, before the installed base of e-book reading devices gets to a size where doing it would be impossible."
In other words - We could care less what customers want. WE decide what they want.
Anyway - Let them. That's what the free market is for. New authors and those with expiring contracts will likely go elsewhere, where they can be assured of the widest possible distribution.
have they not learned from the changes in digital music? They have a perfect working model of what they should be doing in something like itunes and yet they still think they know better! Financial suicide.
The suits need a refresher in the 4Ps (marketing 101) or they repeat the mistakes of their cousins in movies and music.
Back in the early 80's, Hollywood thought folks would pay $80 for a VHS copy of a movie on the premise that's what a family would spend at the cinema to see a movie twice. Their mistake allowed disruptive competitors -- mom'n'pop video rental stores -- to control the market share.
The need to partner with digital content providers, not fight them.
The suits need a refresher in the 4Ps (marketing 101) or they repeat the mistakes of their cousins in movies and music.
Back in the early 80's, Hollywood thought folks would pay $80 for a VHS copy of a movie on the premise that's what a family would spend at the cinema to see a movie twice. Their mistake allowed disruptive competitors -- mom'n'pop video rental stores -- to control the market share.
The need to partner with digital content providers, not fight them.
I love it. Soon there will be one less publisher out there expanding the market even more for self publishing and consumer access to quality literature.
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