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Financial Models for Digital Products Timothy Doyle, Harvard University Press

Financial Models for Digital Products Timothy Doyle, Harvard University Press. February 14, 2011. Overview of Harvard University Press. 98 year-old academic publisher Target markets: Institutions and individuals Editorial focus: a diverse list that includes: Humanities, History and Science

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Financial Models for Digital Products Timothy Doyle, Harvard University Press

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  1. Financial Models for Digital ProductsTimothy Doyle, Harvard University Press February 14, 2011

  2. Overview of Harvard University Press • 98 year-old academic publisher • Target markets: Institutions and individuals • Editorial focus: a diverse list that includes: • Humanities, History and Science • From scholarly monographs to trade titles for a general audience • Growth strategies: • Introduce new products (digital and print) • Publish more titles (front and backlist) • Target new markets 2

  3. Deliberate Approach to Digital Products • Development of digital product strategy as starting point • Content assessment • Understand markets and customers for digital products • Prioritization of opportunities • eBooks as an additional format • Curated collections • Enhanced eBooks • Digital distribution • Critical to consider implications to staffing and infrastructure 3

  4. Economic Drivers – Print v. Digital Print Digital • Individual book purchases via booksellers • One time payment via wholesalers (institutions) • Editorial costs • Book production • Sales and marketing • Warehouse and fulfillment • Subscription • Perpetual access • Pay-per-view • Aggregated and Disaggregated content • Different kinds of editorial, production, sales, fulfillment • Platform and development • Digitization and encoding • Customer service (3rd party) Revenue Costs 4

  5. Key Considerations for Digital Products • Size of digital product(corpus v. single work) • Semantic markup(interpretive v. structural) • Permissions(availability of worldwide digital rights) • Multimedia and interactive enhancements (complex v. simple) • Design(comprehensive design layouts v. format redesign) • Platform and IT investment(custom development vs. modifications to existing systems) 5

  6. Example of Print P&L 6

  7. 7

  8. Example of Digital P&L 8

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  11. Summary and Key Take-Aways • Focus on digital product strategy • Understand content depth and market opportunities • Plan for iterative development • Need to adapt to industry changes and learnings • Revenue models still not clear (as compared to costs) • Consider staffing and infrastructure implications 11

  12. Questions: What types of products beyond eBooks is the market interested in What other tools have people found to be successful Cannibalization and Piracy – any experience What success are people having digitizing out of print backlist 12

  13. Appendix 13

  14. Digital Consideration Matrix 14

  15. Summarized Digital P & L 15

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