For 11 years as CEO of HarperCollins, Jane Friedman was known as the most consistently optimistic voice in the book business. So it’s no surprise that her entrepreneurial venture, Open Road Integrated Media, has her sounding just as bullish about digital publishing.
“What came before was fine,” Friedman said during the opening session Tuesday morning. “What is coming now is going to be spectacular.” Friedman shared the stage with Cathie Black, president of Heart Magazines, as the two veteran media executives detailed how the electronic age is reshaping their businesses.
Here, in brief, the future according to Jane:
Five year plan…by 2015, electronic publishing will make up about 40% of book sales.
Commercials publishing…The digital age will present, “an opportunity for advertising and books.”
The endangered Kindle…”The Kindle, I have a feeling in the next year, because it’s happening that rapidly, may look like a dinosaur.” But don’t gloat Apple—the iPad hype is premature. “I’m optimistic that there will be many (devices) and we’ll use them all”
The non-endangered editor…”The editors and the editors’ taste in bringing in the authors is singularly important and that is something that is not going to change.” But there’s a catch—editors must also now be marketers.
Bigger isn’t better…The book business will more profitable, but with smaller players.
