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The world is presently experiencing a high level of digital disruption. The rapid development of technology is transforming how business is being undertaken within the creative economy, and greatly influencing how individuals spend their leisure time and monies. The book publishing industry’s traditional value chains are being severely affected by such digital disruption, and the revenues of many booksellers and publishers are declining as a result of this, thereby creating knock-on effects on their whole supply chain. The book industry urgently needs to transform and redesign its business models in order to survive and thrive within the rapidly changing marketplace it now finds itself within. This research focuses on factors that influence the revenue that is generated from books to suggest appropriate business models that best meet the new needs of the consumer and provide income for the provider of the literary work. Through critically investigating existing book publishing business models, and models in related industries, plus undertaking and analysing the detailed questionnaires and in-depth stakeholder interviews conducted as part this study, the author proposes that those within the book industry need to better understand their main target groups and set separate strategies for the cost and value driven models they adopt in order to address declining sales. In particular, is proposed that the use of group bargaining and crowdfunding models may be of particular advantage to publishers and authors as they can generate the maximum benefit both to themselves and consumers. Additionally, free offering models and transmedia can further enhance consumer engagement with the content to a greater degree and help increase their buy-in. The use of disruptive business models that provide cost, experience, and platform value can further increase individuals’ desire to read and provide revenue to the book industry helping to reinvigorate it and reverse its decline.
Disruptive business model, Book publishing industry, Digital disruption
Disruptive business model, Book publishing industry, Digital disruption
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