BEA 2010: CEOs Take on the Shifting Value of the Book
While ebooks offer possibilities, libraries might be left behind
Bridget Warren -- Library Journal, 05/27/2010
- Uncertainty about technological change
- Can bookstores survive?
- Libraries still valued, but need ebook access
Book industry heavyweights, gathering for the Book Expo America plenary Tuesday, agreed on the intrinsic cultural value and durability of the book, yet diverged repeatedly on how best to move forward during what Farrar, Straus & Giroux president Jonathan Galassi called “this revolutionary moment” in publishing history.
Galassi moderated the CEO panel on The Value of the Book, inspired by his Jan. 2, 2010 New York Times op-ed. He was joined by Penguin Group CEO David Shanks; Ingram Content Group CEO Skip Prichard; American Booksellers Association CEO Oren Teicher; Authors Guild President Scott Turow; Workman Group Publisher Bob Miller; and ICM Executive Vice President Esther Newberg.
(The panel can be seen May 30 and May 31 on BookTV.)
Technological change
The depth and force of technological change and past decisions by publishers lead to some lively exchanges (see excerpts on Shelf Awareness) as the panelists discussed such things as a fair royalty rate for authors on ebooks and backlist and the cost of maintaining the traditional infrastructure while investing in ebook production and staving off piracy.
Galassi and Turow both expressed regrets that ebooks are released simultaneously with traditional hardovers. Turow blamed publishers for agreeing to a $9.99 price for ebooks; Miller said there was no going back on price unless content is worth more.
Newberg’s optimism about the potential of enhanced ebooks (especially on the iPad) was followed by Prichard’s optimistic observation that publishers were evolving into “entertainment houses.” Miller countered Galassi’s reticence about enhanced ebooks, saying he did not think Gutenberg worried that “these books are going to be a real time-suck.”
Miller later urged his colleagues to create beautifully-made physical books that over deliver at a reasonable price point.
The booksellers’ role
Teicher repeatedly made a case for physical booksellers and their ability to curate content, arguing for a device-agnostic ebook format. Shanks regularly reminded the panel that 90% of their business was print books.
Teicher, Prichard, and Shanks expressed concern and support for sustaining brick-and-mortar stores, but the publishers acknowledged the challenge, given easy online purchasing and ready recommendations from friends and family via social networking sites.
The role of libraries
Prichard noted that libraries had been digital leaders and ten years ago had begun to move research materials online. He characterized libraries as vibrant communities of collaborative learning—complete with coffee bars and digital video.
Turow, however, said he sees libraries as under assault in a digital universe as readers were unable to readily share a copy of a book. He sees ebook readers as a popular amongst the “flying class” and their cost as a barrier to access.
Teicher said he sees opportunities for bookstores and libraries to collaborate, given that they “share a common cause in identifying and cultivating new readers.”
The impact of word of mouth marketing by booksellers and librarians counts, Newberg pointed out. “Put 30 young adult librarians in a room with a new YA author and you’ll get great word of mouth.”
After the panel, Turow expanded on his concerns. “Libraries are where most authors discovered themselves as readers," he observed. "A vigorous library system is key to literary culture.”
