A significant impediment for a reader considering whether to enter into the world of a book is that it is resource-intensive. As C. Max Magee discussed, books are expensive in “time and emotional energy.” The overall commitment is significant, and perhaps even more importantly, the commitment required to sample is high too. Spending an hour and a half reading a book you decide you don’t like is a deeply unpleasant experience, and frequently the reader quantifies that loss in terms of dollars than time: “I can’t believe I wasted $15 on this piece of crap.” A book you don’t want to read is worse than the absence of value, it destroys value (subjectively, of course).
One ramification is that the price of a book has to be radically discounted in order to persuade a reader to take a risk on something that could prove to be a negative experience. Dollar for dollar, a book is the cheapest form of narrative cultural experience there is, cheaper than music or film, and the perceived value, in the consumer’s mind, of content in digital format exacerbates the situation, putting even more downward pressure on pricing. The shift in consumption patterns away from ownership towards an access model, one driven by companies like Netflix in films, and by Spotify, Pandora, Last.fm, etc. in music creates yet more pressure. Indeed, in one respect, piracy means that all content is now, in effect, free, if you know how and where to look.
Nevertheless, the cost denominated in time and emotional energy remains as high as ever, higher if you consider that we are now swimming in content. Almost all platform innovation around content in the past five hundred years has occurred at the level of supply, whereas relatively little effort has been expended figuring out how to integrate all the stories we’re now actively telling. Probably the greatest effort has been expended by search engines around finding things you know you’re looking for, and social networks in seeking to organize the output of social activity, whether than activity is expressed in short bursts of words, or in pictures and short videos. But little effort has been expended on the largest and most demanding agglomerations of words, and on considering how to permit serendipity. Serendipity seems to require a sense of an encounter with the unexpected which is difficult to engender when we expect to have stories flowing by us throughout space and time.
The primary new platform innovation in books in 2013-2014 has been the subscription service, which seeks to apply the film/TV/music paradigm shift: a shift toward paid streaming subscription and away from both advertising-supported analog streaming from broadcast radio and TV and away from pay-per-download models like iTunes.
Currently, however, these services—the most discussed are Oyster and Scribd—focus on acquiring the latest possible libraries of content (each tout 100,000+ titles) and the lowest price ($9.99 and $8.99 respectively). However, with so much content in the world, more than any human alive could even name, never mind consume, and with most of it available either for free already or easily hackable, what value could such services possibly provide a reader?
My belief is that the power of any such service will inhere less in its ability to make more reading available more cheaply, and more in its ability to help us integrate reading into our daily lives. How this will happen is probably the determining factor in both how these platforms will evolve and the extent to which people will migrate to these reading services from other modes of of acquiring content for reading. I’m now working for a service called Byliner which shares with Oyster and Scribd a library model and a monthly subscription fee. However, it is also exploring ways to structure the library in a manner than enables a satisfying journey through all the stories. In this regard it has one advantage over Oyster and Scribd which is that it began life as a publisher of stories that can be read, typically, in 30-40 minutes, with stories (fiction and narrative nonfiction) ranging in length from 5,000 to 20,000 words. As such, the reader is not called up in each instance to embark on a long, potentially unpleasant journey—the fact that the stories are shorter than full-length books allow the reader to nibble her way through and, if we are able to serve her up successive stories that appeal, we’re able, ideally, to bring about a progressive sense of depth. A different experience we’re exploring is to select five stories, around a particular theme, say Genius, or Hustle, or Lust, and send those to subscribers once a week. So the first structure is akin to a reader journeying through the City of Stories, while the second operates more like a wine club, delivering weekly a set of new stories to read.
Regardless of how these various enterprises evolve, their existence signifies a positive development in the business of digital content, in that they do not require the enormous number of users that large-scale advertising-driven corporations need to survive. Stories of a significant length do not interest advertisers, since an individual serious narrative is never going to attract millions of readers. So a model wherein there is predictable recurring revenue, based on readers looking for precisely that, is a positive outcome for the reading-writing ecosystem overall.