A Survey conducted by Bain & Company across six countries and three continents (United States, Japan, Germany, France, United Kingdom and South Korea) shows that readers tend to read mor when equipped with digital readers. In conclusion:
- The power of the word actually tends to increase
- Dedicated e-readers, multiple tablets and other digital devises could be in the hands of 15% to 20% of the developed world’s population by 2015
- Authors, publishers, distributors and retailers all will need to rethink their business models and their relationships with one another. They will have to address several critical challenges: pricing policies that secure the industry’s changing profit pools, redefined distribution networks that preserve format diversity and the reallocation of value among industry participants. Writers, in particular, may be able to carve out a new, direct role in consumer relationships.
- The newspaper and magazine industries continue to grapple with broader challenges. Mmost online press readers want to continue to get information for free, whether on digital tablets or not. They will pay only for premium content—such as financial information, local news and deep analysis. Digital reading devices are thus an additional distribution channel for an industry that still needs to redesign its business model.
- Creating long-term value will not come from simply reformatting print content into digital words. Rather, the greatest opportunity lies in experimenting with such new formats as nonlinear, hybrid, interactive and social content, electronic modes that add motion, sound and direct reader interactions through technologies we will discuss below.
To read the entire paper click on the link: Bain & Company