A recent survey conducted by Copyright Clearance Centre (CCC) and Ixxus revealed that although publishers are aware that the industry is going through a digital transformation, there is fear and concern on how to effectively embrace this journey.
The in-depth study found in the publishing industry that 25 percent of publishers see themselves as “lagging” versus the rest of the industry in their current digital transformation efforts, while only 25 percent feel they are “leading.”
The research paper quotes, "Publishing is a legacy industry that is suddenly facing an overwhelming demand for change that will uproot not only its products, but its people, processes and business models."
Fifty percent of publishers interviewed are looking for ways to replace declining revenues from print and advertising, with 41 percent looking to develop new product options.
Publishers unanimously agree that digitisation is critical to business growth but are experiencing confusion and frustration at the complexity of the journey.