Sep 1, 2008
Written by: Supra Manohar
Executive Vice President, Emantras, Inc
I frequently am in debates with colleagues and customers on the efficacy of e-Journals and although almost everyone agrees that digital content is the way to go the debate rages on the most optimum method to achieve this goal while generating revenue. There is some interesting precedence regarding digital content and understanding the reach of this possibility makes e-publications an exciting proposition.
The Long Tail – if you have not heard, this was a term coined by Chris Anderson of Wired Magazine. Let's look at the business aspect of The Long Tail and how digital stores and content has changed business models. The average Barnes & Noble carries approximately 130,000 titles, with the assumption that the business thrives on the 80-20 principle. They need blockbuster books to make them successful. In contrast Amazon gets more than 50% of its sales outside of their top 130,000 titles. The implications are enormous, digital systems not only create an eco-system of consumption that defies the old distribution modalities they truly obsolete the phrase "out of print".
I could talk about this topic in great length but I wanted to provide brief value points and refer our readers to material that makes my point.
- The cost of electronic journal and publication platforms are now justifiably more cost effective that print workflows
- If your content follows the 80-20 rule, you may be missing out on great markets that are out there
- The potential for the digital book/journal market might be twice what it appears if we eliminate the economies of scarcity
- Make everything available, reachable, and consumable – your biggest seller may be only $ 1 but you may sell a few million
- Your publications and content can be cheaper and "print on demand" may allow you to lower costs of subscription and reach larger audiences
- Experimenting with digital content is easier on the budget (and you never know when a demand may re-surface – everything you have is in play)
- Create opportunities for consumers to find your content
- You need the hits as well as The Long Tail, so you can drive "eyes" to your content
- Recommendations combined with exposure of legacy content drives The Long Tail
Read more about The Long Tail and how digital markets are being revolutionized.
