A discussion was held at the Frankfurt Book Fair about digital books and the publishing industry. It’s pretty interesting so take a look here for more than the snippet below.
Bloomsbury Executive Director Richard Charkin was full of positivity on the opening morning of the Frankfurt Book Fair. Publishing had reacted remarkably quickly to digital, he insisted – academic publishing is now 90% digital, with trade now at around 15% and rising quickly. The problem is that the lessons publishers have learned from digital aren’t being applied to the rest of their businesses: royalties are still being paid on a recommended retail price that nobody actually pays, and there are complexities in the distribution system that would make a rocket scientist blush.