Curiouser and Curiouser: Novelty-centred Business Models and Value Creation in Established Publishing Firms

By Anna Faherty.

Published by The International Journal of the Book

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Article: Print $US10.00
Article: Electronic Free Download

The global publishing industry is in a period of turmoil. Established firms are accused of sticking to broken—and doomed—business models, while start-ups and new entrants are seen as the prime beneficiaries of the rapid pace of technological change. To survive, existing book publishers must find new sources of value creation, devoting resources to the development of new business models as much as the content and product innovations currently gaining attention. This study synthesizes research across the publishing and management fields, presenting a generic business model for the traditional book publishing industry, which is then used to identify and categorize nine novelty-centred business model innovations within established book publishing firms. An analysis of the methods used to create value—for publishers, content creators, and consumers—derives four distinct categories of novel business model innovation: developing new distribution mechanisms and sales transactions, breaking down barriers between publishers and consumers, capturing new revenue streams, and transforming into a service business. It is demonstrated that the innovative business models of established firms are in line with those that have been seen to deliver increased performance for start-up businesses. However, the impact on performance for these more long-running book publishers is, as yet, uncertain.

Keywords: Business Models, Publishing, Value Creation, Innovation, Future Directions, Technological Change

The International Journal of the Book, Volume 11, Issue 1, pp.39-57. Article: Print (Spiral Bound). Article: Electronic (PDF File; 863.605KB).

Anna Faherty

Lecturer, Faculty of Arts and Social Sciences, Kingston University, London, Surrey, UK

Anna Faherty is an experienced publisher and an award-winning lecturer and writer. She teaches on the MA Publishing at Kingston University, where she is module leader for Create: The Business of Publishing and the Practical Publishing Project. Anna also works on a range of print and digital media projects across the publishing, museum, and learning sectors; her clients include OUP, Quercus, SAGE, Wiley, the National Maritime Museum, the V&A, and the Royal Botanic Gardens, Kew. Anna has recently worked with two major global publishers to develop bespoke training materials relating to innovation and digital publishing. She is also the author of Martinis, Masterclasses and Space Missions: New Frontiers in Contemporary Publishing (Kingston University Press, 2013) and a number of online training courses for professional managers, covering topics such as Strategic Thinking, Social Media, Enterprise & Entrepreneurship, and Managing Change and Transformation.

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