What will the world of publishing be like in 2020? This summary from the 2014 Future book Forum captures the key learnings and activities from the event looking to answer that question. Three big themes emerged to create a roadmap to the future of publishing.
2. Creating a shared vision of innovation
What will the world of publishing be like in 2020?
How will people use books alongside other media?
Will they evolve as disposable commodities, or as
more personal, collectable luxuries? How will
people learn, read and share knowledge? How will
the printed book work with digital media in more
hybrid experiences?
We explored the future with industry keynotes and
panel discussions, roundtables on hot topics, and
one to one. We debated the challenges and
opportunities – from new business models to new
finishes, the growth in digital printing, the benefits
of short runs and personalization, of no returns
and zero stock.
However, many of us agreed that the benefits have
not been quantified. We need to make the case, so
that colleagues see the bigger picture, and are
ready to make long-term commitments. Most
importantly we need to imagine better books –
reducing costs is important, but creating new
reading experiences, new revenues streams, real
innovation, is how we will all grow, and succeed
together.
3. Perhaps the biggest challenge lies in the
relationship between publishers and printers,
and printers and manufacturers. New
partnerships are required to automate the
whole “order-print-distribute” chain. We need
common standards, more flexible processes,
a better approach to environmental issues,
and some new rules.
It should be easy to print on demand,
anywhere in the world, with the push of a
button. E-books are not an alternative but a
showcase to buy real books. Personalisation
can transform the way we learn, like
demonstrated in Turkey with educational
books prepared specifically to the strengths
and weakness of each student.
4. Learning from the music industry, the
ability to print any book anywhere creates
a “long tail” of demand – markets of
infinite niches passionate about specialist
topics. Instead of mainstream books for
average people, we create special books
for individuals, who love them and will pay
more. Imagine premium books sold by
subscription, through specialist affinity
channels, maybe crowd-sourced or co-
created, engaging audiences with a
passion for the content.
This requires a new mindset across our
industry. Whilst we can improve the
efficiency of our old models, this simply
delays our decline, and masks our
potential irrelevance. By imagining new
experiences, new business models, and
new ways of working together, we can
create a better future.
5. Opportunity Map for Publishing 2020
Three big themes emerged from the Canon-
facilitated experience – creating a roadmap to
seize the best opportunities in our changing world,
to define where we together need to go, and what
we need to do to get there.
The opportunities are brought together in our
opportunity map for the future of publishing:
1. Future of publishing: creating a shared
vision including the business case for a
better approach, focusing on the big drivers
of profitable growth.
2. Connecting the system: designing better
ways to work together, beyond the
traditional, linear value chain, with new
partnerships and processes.
3. New markets creation: actively shaping the
future of books in our own vision, the new
reader experience, the new business
models, the new markets.
6. We then explored the components of these themes in more detail,
prioritizing activities by their likely commercial impact, as well as
their time to market:
1. Creating an inspiring vision: defining how innovative
printed books will add value to people’s lives, and how the
publishing and printing industry can deliver this.
2. Defining the business case: demonstrating the commercial
logic for long-term investments, new revenues, and
reduced costs, driving profit growth
3. Creating a future showcase: bringing together great
examples from across the world, of how books are being
innovated in concept, format and delivery.
4. Automating the system: mapping out a better way in which
the industry works together, automation of components,
and how they fuse together.
5. Establishing common standards: defining the shared
requirements so that we can work together easily, whilst
still enabling creativity and customization.
6. Building a global network: building a network of partners,
that enable books to be created, printed and distributed
fast and without borders.
7. Creating new revenue models: from crowdsourcing to
subscription, luxury editions to personalization, defining
the range of new ways to make more money.
8. Finding new markets: exploring the new emerging
categories, fusing with other sectors, and diversity of niche
audiences for books.
9. Engaging extreme users: collaborating with influencers
and innovators, authors who experiment, readers who want
more, the people who move us forwards.
7. None of us can achieve this on our own. As an industry we
need to create a better future in which we can all win, in
which new technology works for us, not against us. This
means working practically in small and large groups to
make these themes real, to share the vision, and the
benefits.
Together, the future of books is ours to make happen.