Survey finds publishers less optimistic about digital future
January 13, 2012 | 10:34 am
By Paul Biba
From the press release:
As more publishing revenue transitions to digital, publishers are less optimistic about the state of the book publishing industry in general and much less optimistic about their own company’s chances at survival and growth, according to a Digital Book World survey conducted by Forrester Research, Inc. The full results of the survey will be released at the Digital Book World Conference + Expo in New York on January 24 (www.digitalbookworldconference.com).
The survey was conducted among publishing executives at major publishing companies across the U.S. that represent 74% of all U.S. publishing revenues. According to the survey, now in its second year, 82% of book publishing executives are “optimistic” about the digital transition, down from 89% a year ago.
Similarly, fewer publishers believe that as a result of digital advances:
* Readers will be better off, 61% in 2011, down from 74% in 2010
* More people will read books than did before, 60% in 2011, down from 66% in 2010
* Readers will read a greater number of books than before, 47% in 2011, down from 66% in 2010
When asked about their own companies, the pessimism became more pronounced: Only 28% of publishing executives think their company will be better off because of the transition to digital, down from 51% a year ago.
“People are generally optimistic still, but that optimism is waning,” said James L. McQuivey, Ph.D., Vice President and Principal Analyst at Forrester, who conducted the survey. “Publishers have started to do the hard work of making the digital transition and they’re finding that it is, indeed, hard work.”