Looking foreword: The next 5 years of publishing
Here’s George Walkley’s foreword to the latest BookMachine book (published Spring 2016) and a taster of what’s to come:
Much of the debate about the future of publishing has concentrated on the print versus ebook dynamic. That is unsurprising, at least in as much as ebooks represent one of the most important commercial developments or our industry in recent years. In particular, they have allowed many authors to successfully publish themselves, reading to a parallel set of conversations about traditional versus self-publishing.
If only the world were so simple, and could be reduced to these sort of binary variables.
Print, ebooks, traditional publishers (large and small) and self-published authors will all coexist, as part of a future that is more messy and fragmented than the industry we know today.
As publishers, we’ve innovated around business models and delivery formats, but barely begun to realise the potential of genuine innovation around how we entertain and educate readers. In future, authors and publishers will offer a broader range of books and other media, products and services, print and digital, narrative text and non-linear content. Those will be delivered to readers via an increasing range of stores, platforms and devices, and sold according to multiple commercial models. They will face ever greater competition from a broad range of media, especially when consumed on a smartphone or tablet which also affords access to every other form of content. Some of the intermediaries and businesses in those processes will be long established in the world of books. Some of them won’t exist today and will emerge from the next decade.
The greatest challenge for publishers will be managing the range of processes and outcomes implied by these variables: structures, resources and capabilities established over many years may still be relevant for parts of the book market, but will seem, at best, situationally appropriate. Any publisher with scale and breadth of output will find itself having to manage multiple new processes alongside their existing business – and those who avoid that challenge by electing to specialise in particular niches may find their market smaller and returns diminishing.
In that context, the fundamental skills for publishers will be agility and learning. I believe that the publishers who are alive to creative, technological and commercial possibilities – those in fact who have the sort of professional curiosity and drive on display in this volume – will be the people who create the future of this industry.
George Walkley is Head of Digital for the Hachette UK Group with responsibility for enabling and driving implementation of digital initiatives and strategy across the group, including ebooks and apps. Since 2005 he has held various positions in marketing, business management and digital strategy at Time Warner Book Group and latterly Little, Brown Book Group.
future of publishing, Snapshots