Introduction

This chapter deals with the transitions, opportunities and challenges for publishers, both large and small, arising from the expanding market for e-books. The aim of the chapter is to examine some of the fundamental business practices, cost structures and market forces that affect the ability to create a sustainable business model for e-books, whether in a forprofit, not-for-profit or ‘not-yet-for-profit’ publishing operation. A further aim is to provide an insight into the process of creating high quality books and e-books, to raise awareness of the effort and investment involved, and to examine the concept of value with regard to published information.

The observations that follow are primarily from the perspective of a publisher of professional and scholarly books in the science, technology and medical (STM) areas, but consumer (trade) publishing is also touched upon. The author also brings to bear the experience of founding a start-up publishing company in a market that expects online information to be both readily accessible and inexpensive. Overall, the chapter describes a fast-evolving and sometimes daunting environment for many of those currently working in publishing, and provides some background for library and information professionals who may not be aware of the pressures that are currently being faced by the industry.

The impact of digital technology on the publishing World

It would not be an exaggeration to say that the emergence of e-books will have the most profound impact on the book publishing business since Gutenberg's introduction of the mechanical movable type printing press in the fifteenth century.

In recent years a number of technologies have converged to allow the creation, sale and distribution of e-books: personal computers, pagemaking software, the internet, mobile communication devices, broadband wireless, e-reader devices and so on. However, the technologies alone do not greatly alter the traditional ways and means of the publishing business. In fact, perhaps the most important change is the potential for a dramatic restructuring of the financial model of the business. For the first time since movable type was introduced, the industry may be facing a situation where the technology available and the consumers who use it come together to create an environment where the price for books and information substantially decreases.