The impact of digitization on business models for publishing

Abstract

Purpose The purpose of this paper is to report the findings from a research project aiming to investigate the implications of digitization for the Australian book publishing sector and in particular for current and emerging business models. Recognizing the dynamic nature of the publishing industry in Australia with the rapid development of information and communication technologies, this study aims to address several critical research questions in the publishing industry in Australia as follows: what are the major trends emerging within the publishing industry in Australia? What implications do these trends have for business models? What technologies and applications offer the greatest potential for supporting value creation activities and business model development in the digital era? Design/methodology/approach A comprehensive review of the literature on business models is conducted, in particular, in relation to the publishing industry. The current status of the technology used in the publishing industry is explored, and the overall profile of the Australian publishing industry is established with the use of a document analysis method based on secondary data available. This leads to the development of an online questionnaire for surveying the book publishers in Australia, and results in the conduct of 14 follow‐up case studies, the latter forming the basis for the current paper. Findings The findings are that global trends towards consolidation and increasing competition are replicated in Australia, and that business models are responding, for example, with the emergence of hybrid models, embodying traditional elements and those consequent on the advent of digitization. It is also clear that the internet and related network technologies, along with content and digital rights management technologies are emerging as key to change, but those strategic decisions are ultimately based on business drivers rather than on emerging technologies. Practical implications The research findings would be of significant benefits to Australian business, especially, the publishers in Australia in their endeavour to effectively deal with the challenges that the rapid advance in information and communication technologies has brought to every organization. These findings help organizations, including Australian publishers, realistically assess the impact of the digital technologies on their businesses and subsequently formulate effective policies and strategies for fully making use of the potential of the digital technologies for developing and sustaining their competitive advantages in the market. Originality/value The originality of this study is the use of a multi‐method approach for investigating the implications of digitization for the Australian book publishing sector and in particular for current and emerging business models. Such a study is of tremendous value to the Australian publishers due to the rapid advance of digital technologies; the need for a better understanding of the impacts of such technologies advances on publishers; and the increasing competitive market in publishing. The research findings would help Australian publishers and also other organizations develop specific strategies and polices for effectively dealing with the challenges from the rapid development of the digital technologies.

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