A recent study analyzing digital transformation in the publishing industry found that 25 percent of publishers see themselves as “lagging” versus the rest of the industry in their current transformation efforts, while only 25 percent feel they are “leading.” Talking New Media brought this information to our attention in their article, “Study on digital transformation in publishing reveals sluggish progress.”
The study included 25 leading U.S. and U.K. publishers in education; scientific, technical and medical (STM); and trade.
The study found that digital transformation in publishing is being driven by consumer demand and the desire for new revenue streams and new products. Fifty percent of publishers interviewed are looking for ways to replace declining revenue from print and advertising, with 41 percent looking to new product options.
Overwhelmingly, publishers agreed that digitization is critical to business growth but are experiencing confusion and frustration at the complexity of the journey.
In this time of unique challenges to digital transformation, such as inconsistent standards, updating archives, and leading cultural change, publishers are determined to embrace digitization.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.