From The Wall Street Journal:
Every day, the company BookBub.com sends out more than 7 million emails pointing consumers to e-books that cost as little as 99 cents each and free titles as well.
A host of big and independent publishers list titles there, including New York-based Kensington Publishing Corp. The idea is to entice readers with a bargain, so they get hooked on a new author or series and eventually buy full-priced works.
Kensington’s chief executive, Steven Zacharius, says BookBub is powering sales growth for the company, but he worries about the long-term value of his catalog if he nurtures a generation that won’t pay more than a few dollars for an e-book.
“We know we might be shooting ourselves in the foot,” says Mr. Zacharius. “But I can’t resist because it’s such a good way to stimulate sales.” Every promotion the company has run through BookBub has been profitable, he said, despite the steep discounts.
. . . .
“There are more of these promotion companies, and because their reach has expanded, their effectiveness has increased,” said Liz Perl, chief marketing officer at CBS Corp.’s Simon & Schuster. Many new e-books from major publishers are priced from $12.99 to $14.99.
For publishers, the promotions are a form of advertising in an industry that traditionally has spent cautiously. There is hope the services could help jump-start stagnant e-book sales. A survey of 1,200-plus publishers by the Association of American Publishers found e-book revenue for consumer titles fell 11% this year through August to $964 million.
. . . .
The risk for publishers is that consumers could become accustomed to paying lower prices and only purchase titles when they are on sale.
“It’s an industrywide concern,” said Heather Fain, director of marketing strategy at the Hachette Book Group. It’s hard to know, she added, whether readers who are dedicated to reading bargain books will ever spend as enthusiastically to buy full-priced titles.
. . . .
Offering cheap prices via BookBub and its rivals is seen as a way to pull consumers away from Facebook and other digital temptations. On Dec. 17, for example, independent publisher Sourcebooks Inc. used BookBub to promote Scott Wilbanks’ novel “The Lemoncholy Life of Annie Aster” for 99 cents instead of its regular $14.99 price.
“We want people to discover this book and start talking about it,” said Dominique Raccah,chief executive of Sourcebooks. “When that happens you get a viral marketing effect.”
. . . .
BookBub expects to spark the sale of 20 million e-books at its retail partners this year, generating about $30 million in retail sales. Chief Executive Josh Schanker said heavily discounted e-books don’t compromise overall sales for publishers because they target a segment of consumers who otherwise wouldn’t buy those particular discounted books at full price.
“What publishers are saying is that they’d rather you read our book than play Angry Birds,” said Mr. Schanker. “It’s a cluttered landscape with more and more titles. Price promotions give publishers the ability to get a large group of people to sample their books.”
Link to the rest at The Wall Street Journal (Link may expire) and thanks to Nirmala for the tip.
PG says that a career hawking books to Barnes & Noble doesn’t prepare a publishing executive to have a clue about consumer marketing and retail pricing.
Over and over.
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From The Conversation:
Tales of strange alien worlds, fantastic future technologies and bowls of sentient petunias have long captivated audiences worldwide. But science fiction is more than just fantasy in space; it can educate, inspire and expand our imaginations to conceive of the universe as it might be.
We invited scientists to highlight their favourite science fiction novel or film and tell us what it was that captivated their imagination – and, for some, how it started their career.
Bryan Gaensler, astronomer, University of Toronto
Time for the Stars
– Robert A. Heinlein
Long before the era of hard science fiction, Robert Heinlein took Einstein’s special theory of relativity and turned it into a masterpiece of young adult fiction.
In Time for the Stars, Earth explores the Galaxy via a fleet of “torch ships”, spacecraft that travel at a significant fraction of the speed of light. Communication with the fleet is handled by pairs of telepathic twins, one of whom stays on Earth while the other journeys forth. The supposed simultaneity of telepathy overcomes the massive time delays that would otherwise occur over the immense distances of space.
The catch is that at the tremendous speeds of these torch ships, time travels much slower than back on Earth. The story focuses on Tom, the space traveller, and his twin brother Pat, who remains behind. The years and decades sweep by for Pat, in a journey that takes mere months for Tom. Pat’s telepathic voice accelerates to a shrill accelerated squeal for Tom, as Einstein’s time dilation drives them apart, both metaphorically and physically.
This is ultimately a breezy kids’ adventure novel, but it had a massive influence on me. Modern physics wasn’t abstruse. It was measurable, and it had consequences. I was hooked. And I’ve never let go.
. . . .
Duncan Galloway, astrophysicist, Monash University
– Larry Niven
It was Larry Niven’s Ringworld that led, in part, to my career in astrophysics.
Ringworld describes the exploration of an alien megastructure of unknown origin, discovered around a distant star. The artificial world is literally in the shape of a ring, with a radius corresponding to the distance of the Earth to the sun; mountainous walls on each side hold in the atmosphere, and the surface is decorated with a wide variety of alien plants and animals.
The hero gets to the Ringworld via a mildly faster-than-light drive purchased at astronomical cost from an alien trading species, and makes use of teleportation disks and automated medical equipment.
The appeal of high-technology stories like this are obvious: many contemporary problems, like personal transportation, overpopulation, disease, and death have all been solved by advanced technology; while of course, new and interesting problems have arisen.
Grand in scope, and featuring some truly bold ideas, Ringworld (and Niven’s other books set in “Known Space”) are as keen now as when they were written, 40 years ago.
Link to the rest at The Conversation
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