Verso Digital recently presented their findings on a survey based on millions of Internet users and found that avid readers forecast they will split purchases between print and electronic. Most of the 'avid' reader group is over 45 years of age (66%). Only 28% of those in the 18+-age bracket are avid readers. 27% of avid readers are not willing to pay more than $10 and 37% not sure how much they would pay.
Apple just announced the IPAD device. I note Apple has revolutionised computers, cel phones, MP3 players - and could now create lure to grow the audience for EReaders.
In any event - more EReaders mean less paper consumed, in an already depressed market for demand.
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As I have been reading in so many of your past releases, Mr. Vallely, book, newspaper, and magazine publishers will have to find a model to work WITH theses electronic devices and create a profitable revenue stream. The 'next ' generation of readers seldom hits the 'print' button and they are very comfortable with reading the screen. Biggest challenge is getting this generation to pay for information - too many sites offer it for FREE .
WOW. AGREE. APPLE COULD CHANGE EVERYTHING. WE COULD ALL BE READING ON AN ELECTRICAL DEVICE AFTER APPLE INTROS THE IPAD.
In a potentially positive example of electronic cannibalism for 'the printed word' Hearst and Meredith have both launched print titles based on successful digital sites. Hearst launched Light & Delish, a bookazine based on content from Delish, a food site launched in 2008 with MSN.
Meredith published a 2nd issue of Mixing Bowl.com, and plans to do another this year. Mixing Bowl.com publishes recipes from its readers, and was able to make a profit on the first issue, even without ad support. They are both using print to feed online growth. An example of success in this strategy is the ESPN Magazine, which started as digital and expanded into print.
Perhaps the electronic version will compliment to the printed publication.
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