Yearly Archives: 2010

Verso Survey in the News

The recent Digital Book World conference was one of the best run and most useful conferences we’ve been part of in recent years. It did a great job of airing necessary conversations and forging new ideas about the present and future of our industry. We couldn’t have picked a better place to debut the initial results of our Consumer Survey.  This is an industry that’s ready for hard data. There has been a lot of talk going on related to the conference over the last week, easily trackable with Digital Book World’s own link round-up, here.

If you want to focus on what people are saying, reporting and questioning about the Verso Survey Results in particular, however, here’s a list of some of the talk our survey helped generate:

Publishers Weekly reports that “Verso’s Jack McKeown offered a consumer book survey that acted as a counterweight to Napack’s manifesto…”

On the Digital Book World blog, Guy LeCharles Gonzalez comments on our survey results, “Indie Mindshare Offers an Opportunity…”

The Philadelphia Social Media Examiner cites Verso’s “massive” survey results in the article headlined “Nervous publishing community braces for the e-book revolution…”

Pete Nikolai uploaded the Survey slides to Business Week’s “Business Exchange” site, with brief commentary.

Library Journal mentions the survey in their article, “Digital Book World Attendees Address Changing Future of Reading.”

Industry media reporters Galley Cat reports that the Verso presentation was well-received, “cheering up the publishing crowd.”

In Huffington Post, Steve Ross comments on Verso’s “significant amount of relevant and at times meaningful demographic information…”

Also, here‘s Galley Cat talking about Verso’s pinpointing “Publishing’s Statistical Sweet Spot.”

Publishing industry newsletter, Publishers Lunch headlines an article, “Verso Presents Consumer Survey; Asks Why Indie Market Share Is So Much Lower than Mindshare.”

Industry newsletter Publishing Trends is not available without subscription, but here’s a glimpse of their report on the conference:

Publishing Trends on Verso Surveyy
Publishing Trends on Verso Survey

SOME OF THE BLOGS:

FSG’s Ryan Chapman: “Verso’s Jack McKeown notes that people who go through the effort of downloading illegal copies, for the most part, represent an opportunity for booksellers….”

Dainty Ninja: “Among the findings was one surprising bit of data that could be a sign of encouragement for beleaguered US independent booksellers…”

Paul Biba led off his Teleread post with “Dedicated e-book readers won’t be the easiest sell if you go by Verso’s 2009 Survey of Book Buying Behavior—presented at DigitalBookWorld…”

Mick Rooney on the Verso Survey Presentation, “It was perfect, and set the tone among delegates for the rest of the day….”

SOME OF  THE TWEETS:

@MJRose BTW, I think studies such as Verso’s and BISG’s on book buying behavior are very valuable. –@DonLinn

If you’re an indie bookseller,you need to see Verso’s #DBW presentation and think abt converting mindshare to mkt share http://bit.ly/aAF7qS –@DonLinn

“Turning Indie mindshare to marketshare” Fantastic title! @bookateur @TatteredCover @DBerthiaume @DonLinn #DBW –@AnnKingman

RT@GalleyCat: RT@eBookNewser: Generation Lost? #DBWverso: 2/3rds of avid readers  surveyed are 45 or older; 28%  are in the 18+ bracket #DBW –@CitrusNaNo

RT @DigiBookWorld: RT @ljndawson: Survey says even avid readers who own ereaders are buying both p-books and e-books. Not mutally exclusive. #DBW #DBWverso  –@coopertjon

RT @DigiBookWorld: RT @ljndawson: Maximum $ willing to pay for ebooks! 28% won’t go above $10. 28% are flexible between $10-20. 37% not sure. #DBW #DBWVerso –@krishvenkatesh

RT @BookPros: RT @RonHogan: RT @ljndawson:Author publicity and instore events are biggest driver to purchase. But author tours are dying! #DBW #DBWverso –@ShennandoahDiaz

RT @KatMeyer: slides from @versodigital will be available on slideshare and versoadvertising.com — EXCELLENT information. highly recommend #dbwverso #dbw –@toddbeals

am i crazy to think verso study shows demo most likely to pirate books is demo least likely to *buy* them in any format –@Booksquare

… AND FOR FUN:

CNN’s report on the iPad quotes pundits at the conference and shows Verso’s presentation (don’t blink):

Verso Slides Up on CNN!
Verso Slides Up on CNN!

E-Book Pricing: A Split Opinion Among E-Reader Owners

Maximum price e-book readers will pay for e-books
Maximum price e-book readers will pay for e-books

Over 27% of e-reader owners are unwilling to pay more than $9.99 for e-books, while an equal number, 28%, are willing to entertain a range of prices up to $20.00. (The typical Amazon price-point for Kindle e-book sales is $9.99.)  Further, over 37% of e-reader owners have yet to form a firm opinion about e-book prices.

The results are based on Verso Digital’s 2009 Survey of Book-Buying Behavior, the full results of which will be presented at the upcoming Digital Book World conference, January 26-27 at the Sheraton New York Hotel & Towers in New York City. Conducted in two waves during November and December, 2009, the survey polled 5,640 book-buying respondents, weighted to mirror the U.S. adult population.  The results are statistically reliable within a 1.6 percentage-point margin of error, at a 95% probability level.

The Survey further reveals that only a very small minority of e-reader owners, 7.5%, is willing to entertain prices typical of new-release hardcover books, $25.00 and above.  “The results suggest a much greater diversity of opinion among consumers regarding the emerging e-book market than the industry pundits allow,” says Jack McKeown, industry consultant and Director of New Business Development for Verso Digital.  “We think the survey results point to a potential ‘sweet spot’ for publishers in the $13.00-$18.00 price bracket, including the prospect of converting a lot of the undecided owners.  The results should offer some encouragement to publishers that have been struggling with issues of e-book pricing, timing and potential cannibalization of print sales.”

Could it be true that current e-book users are willing to entertain more flexibility in e-book price points than it first seemed?

E-Book Piracy a Growing Concern According to New Verso Consumer Survey

Percentage of e-book readers who use unregulated file-sharing services
Percentage of e-book readers who use unregulated file-sharing services

Over 28% of e-reader owners have used unregulated file-sharing services, such as RapidShare, Megaupload and Hot File to download at least one e-book within the last twelve months, and 6% have used such services to download ten or more titles during this interval.

The results are based on Verso Digital’s 2009 Survey of Book-Buying Behavior, the full results of which will be presented at the upcoming Digital Book World conference, January 26-27 at the Sheraton New York Hotel & Towers in New York City. Conducted in two waves during November and December, 2009, the survey polled 5,640 book-buying respondents, weighted to mirror the U.S. adult population.  The results are statistically reliable within a 1.6 percentage-point margin of error, at a 95% probability level.

The Survey further reveals that questionable downloading, while affecting all age and gender brackets, is concentrated disproportionately among younger male readers. Among males aged 18-34, over 45% report engaging in such downloading activity within the past twelve months. Nearly 13% have downloaded ten or more e-books from file-sharing services, more than twice the level of the Survey population as a whole.

Jack McKeown, industry consultant and Director of New Business Development for Verso Digital, acknowledged that “the results are bound to set off ripples of alarm within a publishing industry already distracted by issues of e-book pricing, timing and potential cannibalization of print sales.”

What do you think?

7x20x21 for 2010!

As part of the lead-up to the Digital Book World Conference, Verso Digital is sponsoring the next 7x20x21 event this Wed., January 13 at 7PM. (It’s the same pecha kucha format and feel to the 7x20x21 event Verso helped spark for last year’s BEA). It promises to be a fun evening with some super-smart people — booksellers, marketers, artists, and more — who care deeply about books and have gathered together to give us all reasons to be optimistic about publishing. It will be held at the Bowery Poetry Club, 308 Bowery, NYC. For more details and to RSVP, you can go to the Meetup page.