Thursday, March 15, 2012

Digital Media will rise and Traditional Media will close down in years to come

Encyclopedia Britannica to stop printing books
After 244 years, Encyclopedia Britannica will cease production of its iconic multi-volume book sets.

Britannica usually prints a new set of the tomes every two years, but 2010's 32-volume set will be its last. Instead, the company will focus solely on its digital encyclopedia and education tools.

The news is sure to sadden champions of the printed word, but Britannica president Jorge Cauz said the move is a natural part of his company's evolution.
"Everyone will want to call this the end of an era, and I understand that," Cauz says. "But there's no sad moment for us. I think outsiders are more nostalgic about the books than I am."

In truth, Cauz says, the death knell sounded long ago. Though the name "Britannica" calls the print sets to mind, Cauz says they represent less than 1% of the company's total sales.

"The print set is an icon. But it's an icon that doesn't do justice to how much we've changed over the years," Cauz says.

The online version of the encyclopedia, which was first published in 1994, represents only 15% of Britannica's revenue. The other 85% is sales of education products: online learning tools, curriculum products and more.
 
 

No comments:

Post a Comment