Doc believes in all things digital, but he also believes in the power of print. So I keep my eye on market trends but greet those predicting the end of print with a healthy dose of skepticism. Print is still a dominant communication vehicle and will be for some time.
But I have to admit that Jeff Hayes over at InfoBlog got me thinking a bit with his latest installment. Jeff does a roundup of news in a number of areas of publishing (books, magazines, and newspapers) and comes to the following conclusions:
The publishing industry continues to shift to a digital model. Yes, print still accounts for the majority of revenue and volume, and there may be an increase in print-based volume and revenue as the economy recovers. However, I believe digital growth will continue to significantly outpace print and, in the increasingly foreseeable future, overtake print.
Equipment vendors, paper manufacturers, and print service providers need to take a hard look at their business strategy and identify new opportunities for growth. Within the "cross media" publishing industry key areas will include workflow, integration, and managed services (hosting, search engine optimization, digital asset management, etc.). It might be a good time to use your cash flow to finance an acquisition or two.
Doc's not sure of the speed at which digital is taking over for print, or if we've reached a magic tipping point in that transition. But Jeff makes a number of good points and cites some interesting research. Well worth the read.