Books as Luxury Goods

TechCrunch has an interesting piece on the difference between print and e-books. It is written by Chris Lavergne, identified as “the CEO of Thought.is and the publisher of Thought Catalog” both unknown to me. (And visits to the sites are a bit mystifying–I think I miss some of the context, or are so far from the core audience that it goes over my head.)

But the bit of the article that caught my eye was a discourse about electronic publishing versus real books:

“The medium is indeed the message

We were surprised to learn that print books and digital books were almost two distinct businesses with totally different operating models. While a print book and an e-book share identical content, they reflect diametrically opposed media formats. Print books are luxury goods and e-books are utility, and this has real implications in the strategy and workflow behind the marketing and production of each.

This technical distinction is also present in consumer behavior. E-books — with their instant access and cheap prices — sell generally 6x more quantities than print books for us. That said, a print book will generally generate 7x more revenue than an e-book. It’s hard to generate revenue on an e-book because the whole premise of the platform is: I want this quickly and at the cheapest price possible. The premise of a print book in the digital age is driven by luxury: I read better on paper… or… I like the feeling of turning a page.

You can’t create much markup on utility, whereas you can create a great deal of markup on luxury. This has been perhaps one of the most important insights driving Thought Catalog Books’ growth. The print books department needs to be run like a luxury goods company, while the e-book department needs to be run like a technology company. The content is the same, but the medium dictates an entirely different business model.”

 

This seems plausible (if arguable) to me. I’m not much of an e-book reader, not because I’m opposed to the format, but just because of the long habit of print books, and more cognitive comfort and personal efficiency with them. (But I do read them once in a while, because I don’t buy them they tend to be oddball classics I can get off of Project Gutenberg. Currently it’s Three Men and a Boat, and previously I read News from Nowhere on my IPad, a singularly inappropriate title for an e-reader, given William Morris’ attitudes about technology).

Books aren’t luxury items for me–luckily enough, but I can see that for somebody who was born digital, books, magazines and eventually newspapers too, are prestige items (like the encyclopedia sets of my youth, or the solemn, and generally unread, volumes by Will and Ariel Durant). It’s an odd thought: a once dominant (and for me still far more companionable and effective) medium is now becoming a prestige lifestyle accessory. What could that status mean for libraries and for publishers? And how might ebooks with their different business model (if the article is correct) find an incentive to address access and literacy world-wide, given that more people have access to electronic devices now than have access to toilets according to the U.N.