I’m not sure what’s better, a Tweet itself or the metadata around a Tweet. Probably the latter.
Yesterday, the crew at Arc90 released a brand new product called Readlists.
What’s a Readlist? A group of web pages—articles, recipes, course materials, anything—bundled into an e-book you can send to your Kindle, iPad, or iPhone.
Making a very long story short, Readlists (a complement to Arc90’s Readability platform) has the potential to significantly alter the content sharing and curation games. Instead of providing a link to a single article or multiple links to multiple articles, Readlists enables you to put together a complete set of content relative to any topic you see fit - and provide the reader with a wide array of consumption options.
This might not seem all that revolutionary on the surface - yet it is. Once you dive in and start creating lists of related content, it becomes readily apparent that the ability to tell a story, inform, educate or entertain is greatly enhanced and almost limitless.
It will take a while for the edges of Readlists to get properly stretched, but once they are - watch out.
The ebook world shook more than just a little bit today w/ the announcement that Waterstones will begin selling Amazon’s Kindle line.
In the second issue of #Wrppd, we take a look at this very controversial decision & offer our take below.
(Updated to reflect a great piece from FutureBook)
James Daunt announces Waterstones Kindle deal (Waterstones Press Release)
It is a truly exciting prospect to harness also the respective strengths of Waterstones and Amazon to provide a dramatically better digital reading experience for our customers. (YouTube Video)
UK bookseller Waterstones to carry Amazon’s Kindle, ditches plans for rival e-reader (TNW)
Poised to launch in spring 2012 (i.e. now), Waterstones’ e-reader was meant to be as good, if not “substantially better” than ‘that of its Internet rival’, the bookseller told BBC Radio 4 in September 2011.
Waterstones signs Kindle deal with Amazon (The Bookseller)
In a YouTube vide posted about the deal, James Daunt, Waterstones m.d., said the deal would allow Waterstones to sell Kindle books and Kindle e-books in the Waterstone’s shops and through the Waterstones’ website. “We needed to solve the digital question,” said Daunt. “It makes the Kindle experience better,” he added.
Waterstones boss poised to join the e-reader battle (The Guardian)
Daunt agrees that, while Waterstones has begun to recover, book publishing remains in a state of flux. “If everything stayed the same, we would be on course to win our customers back,” he says. But this is the biggest IT revolution since Caxton. So what does a modern British bookseller do about Amazon, Apple et al? “When I took over last year,” Daunt replies. “Waterstones was selling a range of e-readers, very badly. I stopped that instantly – at a considerable cost to the balance sheet.” Does this mean he’s the enemy of the ebook revolution that’s sweeping down Main Street USA, and beginning to be felt here in the UK ? In the UK, the e-reading revolution is about to get really competitive.
Waterstones to sell Amazon’s Kindle book reader (BBC)
In a statement, James Daunt, managing director of Waterstones, said: “The best digital readers, the Kindle family, will be married to the singular pleasures of browsing a curated bookshop.” ”However, for all its success, Amazon does not have a solution for ‘discovery’ in physical or digital [books] that even comes close to the merchandising skills inside a branch of Waterstones,” Mr McCabe added.
Thoughts On » Waterstones & Amazon (Eoin Purcell)
If I was to think of one single reason for the move being a good though I would say it is this, it allows Waterstones to stand still and observe for a little longer. The value of inaction is often underestimated and right now when the ebook retail and distribution space is changing rapidly and requires such a huge investment, this move brings revenue, options but most crucially of all, time to just see what happens while rebuilding the core bookselling business.
UK bookstore chain Waterstones signs deal with Amazon to sell Kindle alongside its own services (The Verge)
While there’s been no announcement regarding the future of Waterstones’ previously announced e-reader, Daunt’s language seems to suggest that it’s going all-in with Amazon.
Amazon is a ‘ruthless devil’ says Waterstones chief (The Telegraph)
“You’ll walk into a Waterstone’s and there’ll be a bit of the shop where you can look at e-readers, play with them. We’re inventing one of our own – perhaps we’ll call it the Windle – and we’re working on the Barnes & Noble approach. They’ve embedded their own e-book, called the Nook, within their bookshops and have succeeded in taking market share from the Kindle,” he said.
Waterstones boss James Daunt: Kindle e-books could be bundled with hardbacks (The Telegraph)
Asked if Waterstones could offer “Kindle Bundles”, giving discounts on the ebook version of any hardback that a shopper bought, he said it was something they would like to look into. “The whole focus is what can we do to give customers what they want? We have all sorts of ideas and we are talking to publishers about them.”
Waterstones Talks Big Then Surrenders To Amazon (Mike Cane)
Here’s a lesson for you, kids. Just STFU or this can be you!
Waterstones to Sell Kndle, Kindle eBooks in the UK (The Digital Reader)
The shock also comes from the faact that everyone assumed that a partnership with B&N was a done deal Waterstones would sell the Nook and their own ebooks. That deal would have made sense – as a US only retailer B&N was no threat to Waterstones’ retail business. Amazon is a dire threat.
Daunt: Waterstones customers ‘want Kindle’ (The Bookseller)
Daunt said the deal with Amazon was “non-exclusive”, and that Waterstones would continue to operate its own e-book platform separate to any Kindle online presence, but said the company would look at adding a link from the Waterstones.com site to the Kindle store. Daunt said he remained “committed” to the Waterstones.com e-book business, and would continue to work with publishers to develop it.
Waterstones reveals Amazon deal (AOL)
The 30-year-old chain is undergoing a major refurbishment which includes dedicated digital areas, free wi-fi access and new coffee shops. As well as selling Amazon’s e-reading device, Waterstones will offer other Kindle digital services.
Waterstone’s includes Amazon Kindle in digital strategy(Management Today)
‘People in publishing believe that books are recession-proof, but that’s simply not true.’
Waterstones Let The Fox Into The Chicken Run (FutureBook)
A significant internet store that sells all books (used, rare,new), a growing publishing business, a self publishing business and growing affinity with authors, a customer mail list, demographics and data to die for, a viable audio book business in Audible, a successful internet book business in The Book Depository, an agreement with the major UK supermarket Tesco to sell Kindle, a digital music offer, a digital on and off line film offer and now a High Street presence across 300 outlets and for what is probably ‘chump change’.
#Wrppd Take:
There’s a fine line between genius and insanity and bold, game changing decisions rarely make sense when they’re first revealed. Judging from the conversation at this point, it’s hard to see the genius in this deal for Waterstone’s. This response is understandable. They’ve handed their customer base (or a sizable and rapidly growing portion of it) to their biggest competitor who has a history of ruthless, highly competitive behavior (not that there’s anything wrong with that).
The next 180 days will shed considerably more light on the decision (and execution) and we’ll all see exactly which side of the line this decision falls on. Until then, it’s truly hard to know if this decision is genius or insanity.
Perhaps it’s both.
#Wrppd Everything you need to know, now.
Earlier this week Adobe announced a complete overhaul to the company’s flagship Digital Publishing Suite. In the initial announcement everything except data was put into play to help authors and publishers deliver truly cross platform products and services.
Then, moments later, another story crossed the wire noting the ABC is going to officially audit the Adobe Digital Publishing Suite. Boom. In the span of an afternoon Adobe has completely re-written the game for digital publishers.
All that remains for Adobe and its DPS offering is Omniture integration for reporting and data management and a set of embedded monetization frameworks. Given the aggressiveness with which the company is pursuing its DPS and DMS of late, it shouldn’t be long until we see these last two pieces of the puzzle drop into place.
UPDATE:
Adobe does, in fact, support Omniture integration with DPS. All that remains is is a set of embedded monetization frameworks. Apologies for the confusion.
The CJR presented a nice summary this week of the ongoing (raging?) debate over ebook pricing. There are great insights from Chuck Windig, Mathew Ingram and Mike Masnick throughout - and I encourage you to read this if you haven’t. It’s a valuable discussion - but one that, as you’re accustomed to hearing me say, is missing the main point. There is no right price for an ebook - and there won’t be. The right price for an ebook will be based on an author’s development of and engagement with their audience.
For some authors this is going to be $0.99, or some other lowest common denominator. These price points will result when authors are not directly engaged with their audience and the retailers will have the ability to force the price point.
For authors who deeply engage their audience, the right price could be $29.99 (or more). Music was standardized at $0.99 (and later $1.29) because RETAIL established the price point and piracy was rampant. Right now, authors (and publishers) still have major work to do to build their direct engagement and control their pricing strategies. If they don’t do it quickly, just like music (and apps), it will be too late.
From breaking news to investigative research and analysis to book publishing and more, PandoDaily is really on to something.
Timely, relevant and super fast. Crazy smart.
If you’re watching what they’re doing, you’re seeing the complete future of publishing come together in one fell swoop - if (and only if) their Facebook IPO book becomes a “live” book and continues to follow FB through the post IPO process.
If it’s not a live book, well, we’re still being treated to 90%+ of the future, which is an incredibly strong position from which Ms. Lacy and her team will continue to build.
Questions will come up as to where Pando ends and Paul Carr’s NSFW Corp begins relative to the publishing process, but it doesn’t matter. Publishing is an ecosystem play, regardless of how you view it.
If the resulting works continue to progress accordingly - and their integrated ecosystem of news and book publishing stays intact - the future of publishing everyone’s looking for may very well be taking place right before our eyes.
Can you think of a better way to introduce BlueLoop Concept’s new project - #Rappd - than with a focus on the Berkshire Hathaway & Media General deal?
Neither can we. Welcome to #Wrppd
Media General Announces Agreements with Berkshire Hathaway for Purchase of Newspapers and New Financing (Press Release)
We’re very happy that our newspapers will become part of Berkshire Hathaway’s BH Media Group, a company with a strong commitment to local news leadership and community engagement. This single transaction for virtually all of our newspapers accelerates the timing of our strategy to focus on our broadcast television business and its future growth opportunities, including digital content and Mobile DTV.
Warren Buffett: Paper boy, real profit (Financial Times)
This isn’t quite the 14% Carlos Slim got for bailing out the New York Times, but it’s similar to the 10% Mr. Buffett got from Goldman Sachs and General Electric in the depths of the financial crisis. Jim Whittum, publisher of the Opelika-Auburn News, called Mr. Buffett’s statement of faith in community newspapers “amazingly perceptive and encouraging”, but the unmatched business acumen he cited has little to do with the future of the local press.
Berkshire Bets Again on Newspapers With Media General Deal (NYT DealB%k)
“In towns and cities where there is a strong sense of community, there is no more important institution than the local paper,” Mr. Buffett said in a statement. “The many locales served by the newspapers we are acquiring fall firmly in this mold and we are delighted they have found a permanent home with Berkshire Hathaway.”
Buffett’s Berkshire Hathaway buys Winston-Salem Journal, Media General papers (Winston-Salem Journal)
Chokshi and other analysts had questioned whether Morton was being realistic when he said in April that “our newspapers are the leading print products in their core markets, and we believe they will be attractive to many prospective buyers.” … Although Chokshi doesn’t expect BH Media Group will do sizable job cuts as part of the purchase, he said it is possible it could consolidate some community newspapers in neighboring markets “to pull out some costs, such as eliminating a printing press.”
Berkshire Hathaway Media Group: Financial Engineering Makes the Deal (Newsonomics)
He can be buoyed by the profound industry move to charging for digital access, after decrying free digital access: “Newspapers have been giving away their product at the same time they are selling it and that is not a great model. … Or we may see the code broken well enough on new business models, as the BH Media Group takes a long, hard look at the realities of John Paton’s Digital First Media initiatives, to manage downturn and change well enough to stay in the black.
Berkshire Hathaway buying Richmond Times-Dispatch, other Media General papers (The Washington Post)
Richmond-based Media General said Thursday morning that it was selling 63 daily and weekly newspapers, including its flagship Richmond Times-Dispatch, to Buffett’s Berkshire Hathaway for $142 million in cash. … The sale of the Times-Dispatch is especially surprising given that Media General’s identity and history have been so closely associated with the paper.
Warren Buffett’s Berkshire Hathaway Buying 63 Newspapers From Media General (The Huffington Post)
Berkshire Hathaway Inc. is also extending a loan to Media General and taking a 19.9 percent stake in the company, which will still own 18 TV stations. Media General also owns some websites, such as coupon provider DealTaker.com.
Why Warren Buffett is buying newspapers (paidContent)
What all this means for Buffett is that he can treat his newspaper fleet as a longer term investment that will pay off in three to five years. Most of the papers will likely deliver a modest profit from print while Berkshire Hathaway coaxes them into a digital strategy in which a growing share of revenue comes from subscription rather than ads (Doctor predicts subscription-based revenue will soon rise from 30 to 50 percent). The company can then cut away many of the printing, distribution and other legacy costs associated with newspapers. This is Buffett being Buffett
Berkshire Buys Media General Newspapers For $142 Million (Bloomberg)
Berkshire is expanding in newspapers after purchasing Buffett’s hometown paper, the Omaha World-Herald Co., last year. The company is the largest holder of Washington Post Co. (WPO) and owns the Buffalo News of New York. Buffett, Berkshire’s chairman and chief executive officer, is expanding his holdings in the industry after telling shareholders in 2009 that papers have “potential for unending losses” and that he wouldn’t buy most of them “at any price.”
Warren Buffett’s Berkshire Hathaway buys Media General newspaper group (The Guardian)
The move is just the latest foray into print from Buffett. Last year Berkshire bought the Omaha World Herald Company, owner of Buffett’s local newspaper and six other local titles. At Berkshire’s recent annual shareholder meeting Buffett said he was considering other local newspaper acquisitions. “We may buy more newspapers. I think the economics will be ok, but it will be nothing like the old days,” he told the meeting.
Why Warren Buffett Really Likes Newspapers (BusinessWeek)
“In towns and cities where there is a strong sense of community, there is no more important institution than the local paper,” Buffett said. “The many locales serviced by the newspapers we are acquiring fall firmly in this mold, and we are delighted they have found a permanent home with Berkshire Hathaway.”
Media General to sell most of its newspapers to Warren Buffett’s Berkshire Hathaway (Poynter)
Buffett replied that while newspapers are no longer the only source for some types of news, such as stock prices and major league sports scores, they still deliver news and advertising information that people can’t find elsewhere. Buffett also said there was no bidding war for the papers because Berkshire Hathaway could also refinance Media General’s debt: “We came up with a solution to all of their problems, and they knew we were good for it.”
What if we give it away? (w/apologies to REM) (Dan Conover’s Xark!)
Here’s the problem with that, and Charlestonians have been learning this lesson first-hand ever since The Post and Courier launched its paywall on May 1: Most newspaper content just isn’t that unique or valuable. In addition to the websites maintained by its television news stations (who will never charge for online content), the city now benefits from a variety of local online news sources.