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ABC-CLIO’s Perspective on E-Books

ABC-CLIO’s Perspective on E-Books. ICOLC September 21, 2000. Topics. Our pricing is based on value, not cost. What value is added? How ABC-CLIO prices additional value. Feedback, please. E-Books and Reference are a natural combination. Short access times by users

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ABC-CLIO’s Perspective on E-Books

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  1. ABC-CLIO’s Perspective on E-Books ICOLC September 21, 2000

  2. Topics • Our pricing is based on value, not cost. • What value is added? • How ABC-CLIO prices additional value. • Feedback, please

  3. E-Books and Reference are anatural combination • Short access times by users • Multiple users are easy to accommodate • Extended searchability: full text and multiple approaches to find relevant information • Check-in/check-out/tracking is automatic

  4. Price is Based on Value Value of content* + Value of the presentation media** Total Value *value of content = utility **value of presentation media = how well usage is supported - access, convenience, etc.

  5. E-book vs. Print book Value • The e-book has addressed the presentation (usage) value first. E vs. PE vs. P NowFuture Presentation Value: Higher* Higher Content Value: Same Higher** * Convenient, improved access - 7 x 24, anywhere ** Smarter, linked, updated, with integrated tools

  6. Print Only Authors Editors Production, print Marketing Customer Service Print and E-Book Authors Editors Digital editing (smarter books) Production, print Production, e-books Marketing Customer Service Customer Management Hosting costs Engine costs Reports Today, E-book Publishing Costs More

  7. ABC-CLIO’s Four Pricing Principles • Open access • Price by institution • Bundles • Volume discount

  8. Principle 1Open Access • All members of institution receive access • Pricing - if print book costs $100: • e-book price, single user = $110 • average e-book price for open access = $150 • Hosting/Reporting: • 25% for 5 years, or • 8% of price/year • Archive: if choose not to continue on-line access, receive a CD.

  9. Principle 2Pricing by Institution • Larger universities, with more users and usage, pay more than smaller colleges. • Public libraries and community colleges pay less for a lower utility (ABC-CLIO titles). • Our conclusions to date: the range of prices for the e-book ($110 single user) could be $75 (for public library) to $200 (for largest university).

  10. Principle 3E/print bundles • Deliver the content in the medium allowing greatest usage, the e-book. • Offer additional copies in print and CD for something over the marginal cost, to further improve usage. • Our conclusion: additional print or CD copies cost about 45%.

  11. Principle 4Volume Discount • Discount for number of titles ordered • Series standing orders receive discount. • Discount for number of institutions per title • See packet for example and details

  12. Example • Situation: 100 member consortium. Historical average of units purchased by consortia members is 40 units (meaning 60% of institutions may not have direct access to any given title)  • Desired: unlimited 7x24 access for all students at all 100 member institutions. • What should be the price?

  13. Value and Price • Collection size has increased by 150%. • Price increase is 50%

  14. Feedback?

  15. Utility Enhancements • Smarter • More connected • Includes tools • More subscription like: new content added • Minimizes or absorbs the “system costs” • May include virtual workspaces for groups and classes

  16. Utility Enhancements (2) • Current e-book is “dumb”, smarter than a printed book, but significantly dumber than it will be soon. • ABC-CLIO’s product development is several years past the current e-book. • “Smarter”: just-in-time reference, animations, links, etc.

  17. Extending Value Concept • Value = f(Utility x Usage) = Price • System costs are all costs associated with a particular service. • Value of a product increases if system costs can be avoided through its use, or are included as part of the purchase.

  18. System Costs Borne by Library, Absorbed by Publisher • Selection x • Purchase price • Intake processing x • Cataloging X • Shelving/storage X • Check-out/check-in X • Statistics/Reports x x: reduce X- take over/eliminate

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