The Bookstore's Last Stand - NY Times article

THERE WAS an interesting article in the New York Times the other day written by Julie Bosman. 

The article suggests that the book retailer Barnes & Noble, the last major bookstore chain standing, may be the one institution that can keep the traditional publishing industry alive.

A few thoughts:

• The book publishing world is going through some significant changes, no doubt, but so to has the newspaper sector, the music sector, and all media sectors. The internet is a game changer but it doesn't necessarily mean the death of a traditional product such as a CD or a print book. The key for businesses is to develop innovative business models that leverages the advantages of both traditional and digital formats. 
• Certain book genres will still be favoured as print books. Children's books and specialist non-fiction works are well suited to print. 
• The novel and narrative non-fiction works however, seems well suited to a digital form. 
• But why does it have to be one or the other? Publishers and retailers should allow readers the option to buy one or the other or as a bundle. For example, buy the print book for $12.99 and get the eBook for an extra $0.99. 
• In the article it is mentioned that real book stores have two distinct advantages over eRetail stores: the ability to browse the shelves and find a book you weren't even looking for and enabling a reader to mine the backlists of authors.  While we haven't worked out to browse a Web store like a real book store, it will only be a matter of time. One will be able to create digital displays of books in a virtual and immersive environment that will closely mimic real life. Secondly, the backlists of authors are easier to find online both as eBooks and within the second hand market.
• But, as the article says, Amazon is beginning to dominate the book world and no monopoly is a good thing. This is why services such as Smashwords, Lulu and others are important so readers can get choices and different types of books will be available. 
• In the new publishing world there are pros and cons for authors. eBook prices are lower - con. The reach is potentially greater - pro. Authors can potentially get a greater royalty share - pro. Authors can also take greater control of the sales and marketing of their titles if they wish - pro or con depending on your marketing aptitude. 
• The key or course is to stay abreast of developments so you can take advantage of opportunities as they arise. This is the purpose of BWM Books