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The most significant conflicts in the eBook revolution are over, and the format is now widely used across the literary industry. Due to this revolution, numerous eBook publishing services also came into existence. They are now professionally publishing books and helping authors gain the recognition they deserve. Moreover, traditional publishing houses are now desperately trying to hold onto the profits, book launches, and privileged status that had long been thought to be their inheritance. But eventually, having no other choice, they accepted the eBook revolution and are complying with the eBook flourishing pricing segment.
With the technological development in the middle of 1990, entertainment, including games, software, movies, and music, underwent a digital revolution. Before the advent of the digital revolution, all of these products were sold in boxes and displayed on store shelves. Microsoft also created and packaged its software on floppies along with detailed documentation. Even video games were boxed up, put on store shelves, and sold.
Similar transitions occurred with movies from VHS to DVD to Blu-ray, launching the movie rental industry. But despite the market’s dominance by traditional publishers, books were still being made and published and piled high on bookshop shelves. However, digital distribution and eBooks forced all these industries to sell their products online. It was all thanks to the revolution of eBooks and the emergence of eBook publishing services. As a result, brands stopped using the strategy of marketing their products in plastic boxes at malls and department stores.
However, this was a successful strategy until piracy became common. Apple was undoubtedly a leader in the music industry at the time when it came to the sale of expensive music. After the iPod’s and iTunes’s
initial launch, games and applications followed the same trend. To their credit, piracy was controlled significantly.
The rise of subscription services played a significant role in the eBooks’ revolution. Companies like Netflix, Microsoft, Amazon, and several others changed their business models, with Apple iTunes being the pioneer. Due to this market shift, books and eBooks became stuck in confusion. The leading cause was the publishing houses’ opposition to embracing the change.
This opposition allowed Amazon to establish a monopoly. The possibility to publish a book independently, originally in paperback and then in eBooks, was enthusiastically availed by authors. Amazon has gathered millions of books and eBooks. Then, to dominate the publishing industry, they were used to put pressure on and resist the large traditional publishers. Many people opposed Amazon’s market domination at the time. However, the younger generation accepted the transition. That’s why Amazon controls about 65 percent of the book publishing market today. The rise of eBook publishing services was another factor that helped Amazon acquire this position in the market.
However, it’s essential to remember that Amazon changed, updated, adjusted, took risks, made significant investments, and looked ahead rather than back. But on the other hand, traditional publishers are still stuck in the past with their legacy.
Prosperity is a given to those who accept change over time. It made sense for Kindle Direct Publishing (KDP), a division of Amazon, to increase the reach of its Kindle Unlimited membership service. However, it can only be used by authors or publishers that want to grant Amazon exclusivity for their eBooks in the KDP program. Many authors are disappointed by this exclusivity. But now that it has solidified its position of total market dominance, Amazon is free to impose its own rules. For example, when a traditional publisher wants exclusive rights to a book by an author, no one objects. Why is there resistance to Amazon?
Actually, Amazon doesn’t request the rights to the book. Instead, it merely asks for the exclusive right to sell, and even then, only for three months. However, it is enough for Amazon to keep providing Kindle Unlimited subscribers with access to its collection of at least 1,000,000 eBooks.
An eBook is a digital file, much like a program, a song, a video, or software. Assuming eBook sales will proceed consistently with all other market categories makes sense. Due to the growing demand, Amazon and other companies have already introduced subscription services. Particularly with applications, the revenue model centered on advertising has been successful.
Though, aside from the book cover art, all eBooks now have is black text on a white background, I find this dull and uninteresting. Many devices, including the Kindle Fire, iPad, smartphones, tablets, and many others, can deliver rich, bright, interactive displays. On top of that, the eBook looks extremely old-fashioned, boring, and unattractive on these gadgets. The concept that an eBook is simply a printed book in electronic form needs to be abandoned if eBooks are to have a bright future.
It must, therefore, closely resemble a printed book. Technology is not paper sheets with a cardboard cover. Instead, the eBook will modify and deviate from its printed edition through color, graphics, interaction, and connectivity. The eBook will start to look less and less like a book and more like an app. It will foster flexibility and social sharing. There is also text-to-voice technology. For example, it might allow for the almost-free production of audiobooks. Voice technology on our phones and homes is advancing each year rapidly. So, it makes sense to leverage this technology and incorporate it with eBooks.
The future of the eBook is far from certain, and it will go through an extended process of development and adaptation over time. It is a developing product that can be experimented with and creatively used. Yes, Amazon has a monopoly for now, but this won’t last forever. Amazon’s market share will gradually decrease as creative individuals find other methods to create eBook opportunities and revenue streams.
So, what will the state of the eBook market be in the next ten years? Although no one can foretell the future, it is clear that eBooks won’t resemble what they do right now in that time. But there is just one thing for sure: people enjoy eBooks. More books are being published in electronic formats every year. Over a million new eBooks are added to the Kindle Store annually. And I believe these figures are sufficient for us to decide whether eBooks will transform the publishing industry or vanish entirely!