Transformation and Development of Traditional Publishers: Perspectives in the Digital and Internet Era

Author: Chen Xin

Publisher: Truth & Wisdom Press, Shanghai People’s Publishing House

We are living in the age that Premier Li Keqiang dubbed “Internet Plus.” As publishers, we have felt the revolutionary changes to the traditional publication industry brought by the Internet, especially the mobile Internet, in recent years. We have embraced the Internet with tremendous expectation and enthusiasm, while undertaking various explorations in this respect. However, during this time of transformation for digital publications, we are also suffering a plethora of negative effects like confusion and doubt, even as our reverence and attachment toward traditional publications and printed books remains. Therefore, analyzing and proving the inevitability of the merging of traditional and digital publications carries great weight, as does the transformation of traditional publications by using the theories and tools of modern economics.

Transformation and Development of Traditional Publishers: Perspectives in the Digital and Internet Era comprises two parts. Part one, “Economic Analysis on the Transformation and Development of Traditional Publishers in the Digital and Internet Era,” presents my latest research findings. In this part, by employing modern economics models and instruments, I demonstrate that in today’s digital and Internet era, the marginal cost of digital publishing approaches zero. By comparison, the marginal cost of traditional publishing is a fixed number far above zero. Therefore, using digital network technology to reconstruct publishing industry chains, re-molding traditional business flow based on Internet thinking, and innovating ways of products demonstration are essential for the transformation and development of traditional publishers.

Part two, “Observations and Exploration of Transformation and Development of Traditional Publishers in the Digital and Internet Era,” collects eight papers on digital publishing. These articles elaborate on the endeavors by Chinese publishers to promote the transformation, and illustrate my deepening knowledge on digital publishing.

This book is an individual reflection on the transformation and development of traditional publishers that adopts modern economics theories. Despite inevitable limitations, the book has fine logic and an accurate grasp of the future trends in the Chinese publishing industry. What’s more, it shows a publisher’s persistent pursuit for his career. In recent years, Lei Jun, the founder of Xiaomi Corporate, made a viral comment, “Even a pig can fly if it stands in the wind gap.” It reminds traditional industries of the importance of seizing the valuable opportunities brought by the “Internet Plus” era. Meanwhile, I am wondering how traditional industries can continue to fly and not fall when the wind stops blowing? The key point here might be that they must learn to be a “bird” rather than a flightless “pig.” As for traditional publishers, their flying ability lies in high-quality products and the ability to innovate. Even standing with the wind blowing, we should know that the transformation toward digital publishing is a trial-and-error process. Frustrations are inevitable and quick success should not be expected.