Best of TOC

Best of tocIt's challenging keeping up with publishing industry news and analysis. I have way too many content feeds to monitor and I'm sure you do too. We do our best to highlight the most important developments on the TOC website but you're forgiven if you fall behind or miss an article every so often.

Most of analysis on the TOC site is somewhat timeless but the blog format might not make it feel that way. That's why we gathered the best of the best articles and assembled them for you in a handy, to-go version. It's called Best of TOC: Analysis and Ideas about the Future of Publishing. More than 60 of the most thought-provoking articles from the TOC team and community are featured and it's available in EPUB, mobi and PDF formats. Best of all, it's completely free.

If you need to catch up on your TOC reading you no longer have an excuse. Download your copy today and tell us what you think.


The Kirtsaeng ruling: What’s your opinion?

Wow. I’m very surprised by the Supreme Court’s ruling in the Kirtsaeng vs. Wiley case. I figured it would go the other way. Here’s a nice summary of the majority opinion from the Supreme Court (you’ll find more detailed analysis here):

Putting section numbers to the side, we ask whether the “first sale” doctrine applies to protect a buyer or other lawful owner of a copy (of a copyrighted work) lawfully manufactured abroad. Can that buyer bring that copy into the United States (and sell it or give it away) without obtaining permission to do so from the copyright owner? Can, for example, someone who purchases, say at a used bookstore, a book printed abroad subsequently resell it without the copyright owner’s permission?

In our view, the answers to these questions are, yes. We hold that the “first sale” doctrine applies to copies of a copyrighted work lawfully made abroad.

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Used ebooks: Why your assumptions are wrong and the opportunity is huge

Amazon has a patent and now Apple does too. I'm talking about the techniques both companies might use to let you resell your digital content. They join ReDigi, who already offers a platform to resell your digital music.

Ebooks are next, of course, and the concern I hear isn't so much about the legal aspect but rather the risk of cannibalization. Most publishers seem hung up on the notion that a used ebook sale will mean one less original sale for them. And even if they participate in the used ebook revenue stream, they're concerned that the selling price will be lower, so they'll make less when cannibalization happens. I think that's a very shortsighted view of the opportunity.

This isn't just about lower-priced versions of the original work. It's time to think about the added-value aspects of a used digital content platform.

I've written before about how consumer might be able to resell their highlights and notes. Let's take that a step further. What if someone reads a 300-page business ebook and condenses the key lessons into 10-20 pages? Think of it as the Cliffs Notes, summarized version. Let's further assume that reader bundles their summary with the original ebook they bought and sells it via a used ebook marketplace. Could they charge more for their version? Absolutely.

You're concerned about this being more attractive than the ebook by itself? You should be. But what if the publisher owns this platform? What if all these sales were done directly by them, so they're capturing 100% of the revenue stream and sharing the appropriate cut with the author? Now let's take it another step further... What if that reader isn't just able to sell the one copy they bought, but an unlimited number of copies that come bundled with their summary? The consumer price of this version would be higher than the version with the ebook by itself and the reader who created the summary would receive a portion of the difference between those prices, essentially making them a royalty-based author on the bundle.

Btw, there's no reason the original author couldn't create this summary instead of or in addition to whatever is created in the reader community. In fact, why not open this up to all readers to create their summary of the ebook and let consumers decide which version they want? Use a voting system so that the best summary writers build a reputation and generate the most income.

These summaries aren't limited to written material either. There's no reason video couldn't play a role here. There's also plenty of room for an idea I suggested a couple of years ago: The "VIP Notes Edition." The key is to create a model where author, publisher and summary writer all share in the revenue stream.

So let's stop thinking of the used ebook market as yet another step towards the race to zero content valuation. This is different from the used print book market and it represents some very interesting opportunities for publishers who are willing to embrace a new model.


How the DOJ ruling could affect ebook prices

The proposed final judgment in the ebook case says that settling defendants may enter into contracts with ebook retailers that prevent the retailer from selling a settling defendant’s ebooks at a cumulative loss over the course of one year. What does that mean for the future of ebook prices?

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