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Thursday, August 11, 2011

Publishing is One of Few Sectors Growing in Today's Economy

The traditional publishing industry was completely devastated by the new digital technology. Not totally knocked out, mind you, just put in a state of semiconsciousness.

When the first effects of the field-leveling tech blew out heavy printing, storage and shipping requirements; did away with the need for physical distribution; cut to damn near zero the finished manuscript to published/for sale timeline; redefined the scope for agents and editors; etc, etc, it had management in a tizzy!

But, when the tech storm dust settled a little, management began to better visualize how the new tech could be absorbed, understood and assimilated into existing business products and goals and new biz models began to appear ... now traditional publishing (TP) is offering dual media formats and a ton of apps for mobiles, etc.

All this has made the publishing industry, believe it or not, a growth sector in the current, dismal economy ... according to the well-respected Bookstats, an industry research and study group.

These details by Caitlin Bronson in ThirdAge.com:

E-Books Spur Publishing Industry Growth

The popularity of e-books has pushed the publishing industry to become one of the few sectors of the economy that is actually growing. The Christian Science Monitor reports that a Bookstats study puts the industry at a growth of 3.1 percent from 2008 to 2010.

At the helm of the upward trend are e-books, whose sales rose about 39 percent during the same time period. E-books seem to be the clear saving grace of the industry, whose mass market, hardcover and paperback sales actually fell about two percent over the same three years. The ease and relative inexpensive cost of e-readers like Nook and Kindle appeal to readers who may not otherwise carry a paperback around in their pocket.

Textbooks are also helping the industry grow, with sales up 23 percent, the study said.

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