The Literary Life

From the staff of BookSwim.com

Category: Press & Media Clippings

Forbes.com: “Book Publishers Can Learn from Film and Music” by Chip O’Brien

Read BookSwim’s Director of Member Service CHIP O’BRIEN at Forbes.com

What is happening to the future of books? Consider this: Amazon sold more Kindle books than paper books on Christmas Day in 2009, despite decisions by publishers like Harper Collins (Palin’s Going Rogue) and Simon & Schuster (King’s Under the Dome) to delay the release of eBooks long past the release of their hardcover counterparts. It seems the popularity of eBooks is growing much faster than publishers’ willingness to embrace them.

But e-publishing doesn’t have to bring an end to traditional paper books, or spin its wheels trying to translate the paper book model into a far different space. Instead of trying to understand eBooks within the space of the old paper-and-binding universe, we should examine the media that survived the first wave of the distribution revolution: movies and music.

Taking cues from the music and film industries, here are five things book publishers should offer:

Combo Deals: Bundle purchases of paper books and eBooks. According to science fiction novelist Eric Flint, releasing a free online copy of his novel Mother of Demons raised the book’s sell-through rate by 11%. While it can’t be shown that his subsequent novel, 1632, definitively benefited from being available for free as an eBook from its publishing date onward, its own 88% sell-through rate doesn’t seem to have been harmed. Many print novels, especially series volumes, currently include a “sneak peek” chapter of a forthcoming book at the end. Instead, why not offer a free download code for a large online excerpt of another title, or even a complimentary eBook in its entirety? It would be an easy way to add value to a paper book purchase, and a great way to promote other titles.

More Flexibility: With the rising popularity of book-swapping sites like Book Mooch and of online book-rental clubs like BookSwim, readers are finding flexible ways to get and keep (or return, as it were) books. Meanwhile, eBook file formats seem almost deliberately restrictive: Nook books can be read only on Nooks and PCs, Kindle books only on Kindles. The music industry long ago gave up on DRM. Offering eBook files that can display on all eReader devices would be a friendlier option for the consumer, allowing the same book to be read on a Nook, a Sony eReader, or any PDF-reading program on a computer.

Product Expansion: The eBook format can break down the traditional linearity of a book; why not use that to the book’s advantage? Like a VHS tape, paper books give access only to the finished product in a single linear sequence. As with DVDs, versatile ebook technology would allow content-producers to “layer” content that would be impossible to include in a paper book, from author commentaries with a display/hide option to extras like deleted chapters or characters that didn’t make the final revision. Links to blurbs of background information could be embedded in the text, so the interested reader perusing The Da Vinci Code could click a link to see a picture of the Louvre museum or a snapshot of “The Last Supper.” Publishers might even consider including free user-submitted content like fan commentary and analysis—material with little-to-no cost that still enriches the basic text.

Some may object to the idea of book “extras” in the same way Spielberg refuses to record audio commentaries for his films: because it might distract attention from the work itself. Would these changes take away from the mystical self-completeness of a book? Perhaps, but it may be time for the book to lose its one-way conversational flow. When you increase the interactivity of a book, you increase its ability to engage an Internet-age audience.

Friendlier Reading For Short Attention Spans: When a would-be reader complains that he or she doesn’t have time to read, it’s more likely that they’re simply missing a continuous block of free time to plow through several chapters at once. It may be worthwhile for publishers to take inspiration from such sites as DailyLit, which breaks novels into 1,000-word chunks and emails those excerpts on a customizable schedule. We may not have time to read 500 pages today, but we could certainly read two pages a day for a few weeks. Many of today’s classic novels, from A Farewell to Arms to Great Expectations, were originally published in serial form—what if, like a band releasing several EPs instead of a single long album, publishers released books in segments?

Social Experience: Reading has traditionally been a solitary activity, which may explain the growing appeal of blog-reporting over traditional newspapers: through comments and follow-up posts, the text talks back. But armed with wireless connections, eReaders can finally create a seamless social reading experience. They might include the option to connect with other readers currently working through the same section of the book, allowing for a kind of impromptu disposable book club. Another possibility is to “Wiki-fy” every text: Allow readers to add comments throughout the book, while others vote on the relevance and helpfulness of those comments.

Finally, a note on what not to do. Netflix recently reached an agreement with Warner Bros. to delay rentals of the studio’s movies until four weeks after their retail release. This bears an uncanny parallel to publishers’ delay of eBooks to preserve hardcover retail sales. In both industries, though, scrabbling frantically for retail sales will fail when the consumers know they can rent (or, dare I say, pirate) the product elsewhere—and the appearance of bullying consumers into buying at hardcover prices is highly unlikely to give readers a sense of compassion for beleaguered publishers.

This is the exact wrong time in history to fret about the imminent death of reading—eReaders have the power to transform books into far richer, far more interactive experiences than ever before. Instead of deriding the eBook as a profit-killer, why not unite our old ideas of reading alone in quiet rooms with the vast potential created by new technology? Let’s re-imagine what books can become.

Read BookSwim’s Director of Member Service CHIP O’BRIEN at Forbes.com

“BookSwim Plays ‘Telephone’ at BEA” by Karen Holt

Read the article at PublishingPerspectives.com

If someone hands you a spiral-bound notebook during BEA and asks you to begin writing where they left off, consider it your chance to become a published author.

If you’re already a published author, that’s okay, too. The notebooks are part of an innovative (and surprisingly spontaneous) marketing campaign by BookSwim, the company that bills itself as the “Netflix of books.”

Here’s the idea: The notebooks are being given to five well-connected people in the industry with the mandate to write for as long as they want in a certain genre and then pass the book on to another person who will keep the book going. When BEA ends on Thursday, the notebooks will be collected and the contents published on BookSwim’s website, www.BookSwim.com. The chosen genres are romance, mystery, sci-fi and children’s. A fifth book will be all about BEA.

CEO/CFO Jeevan Padiyar sees the project as a non-pushy way to get BEA attendees talking about BookSwim. “There’s a glut of people saying, ‘Can I sell you this? Can I sell you this?’ We didn’t want to be that way.”

It’s also an example of what a truly “nimble” company looks like. Nick Ruffilo, BookSwim’s CIO and CTO, thought up the idea Monday evening. “It’s really a message to the publishing industry to say, ‘you can take small risks, don’t be afraid,’” Ruffilo said. In this case, small means $30 plus tax — the price of the five notebooks he bought at Staples Monday evening.

Read the article at PublishingPerspectives.com

Washington Examiner: “Book publishers working to go green” by Jenny Rough

Read the full article at WashingtonExaminer.com

Print is dead.

So said the media folks at a recent writers’ conference I attended in New York City. Today it’s all about digital magazines, electronic reading devices and 140-character Twitter updates. I concede I’ve lost count of the number of print publications that have folded since starting my writing career in 2005.

But I love print. And my wallet, which is full of book receipts from Barnes & Noble, tells me print is not dead … yet. There’s nothing like snuggling up at night and losing myself among black and white letters crafted into prose, listening to the authentic flip of crisp pages and running my hands along the smooth cover of a tactile book. Author Ariel Gore says, “Folks have been saying print is dead for decades with the advent of radio, movies, TV and the Internet, but you don’t sit on the toilet with an e-zine.”

My sentiments exactly.

Yet as a consumer striving to be green, it’s disheartening to know most of the books in my collection are printed on 100 percent virgin paper. According to Raz Godelnik of Eco-Libris, a company striving to make the book industry greener, there are 4.15 billion books produced in the United States each year, yet only 5 percent to 10 percent of the paper in those books comes from recycled materials. Even books that cover green topics, such as eco-friendly gift wrapping or green home-improvement projects, aren’t necessarily being printed in sustainable ways.

“Books need paper, paper needs trees, and cutting down trees to make paper is tough to sell as conservation, even if it’s for a book about conservation,” says Clint Greenleaf of Greenleaf Book Group, an independent book publisher.

But take heart, bookworm. There are some positive changes happening in the industry:

Book publishers are pledging to go green

Chronicle Books has raised the bar with its corporate sustainable practices. It’s free indoor bike parking encourages green commuting. You won’t find any plastic or foam cups in its kitchen — only real plates and cups, containers for recycling and even composting bins. In addition to the many book printed on recycled paper, Chronicle recycles its press sheets into file folders.

Penguin is experimenting with different paper choices, claiming that more than 64.7 percent of its papers are derived from fiber certified under various organizations, such as the Forest Stewardship Council or Sustainable Forest Initiative. Random House and Simon & Schuster have announced goals of increasing the proportion of recycled paper it uses to manufacture books.

The Green Book Festival

The Green Book Festival is an annual event in California that honors books that “contribute to greater understanding, respect and positive action on the changing worldwide environment.” Visit greenbookfestival.com to view the winners of its 2010 competitions, which covered 22 categories of books, ranging from how-to guides to poetry to graphic novels.

Eco-Libris is on a mission

In addition to retaining bloggers who review green books and dedicating its time convincing publishers to adopt greener practices, Eco-Libris has partnered with three nonprofit organizations working in developing countries, Central America and Africa, where deforestation is a crucial problem. To offset your book purchases, you can donate money and its partners will plant a tree. Visit ecolibris.net.

Rent a book through BookSwim.com

A Netflixlike service for book lovers, BookSwim believes that renting books, rather than buying them, will help reduce the number of trees cut down for virgin paper. Unlike typical book shipments (think boxes with air packets and foam peanuts), BookSwim uses recycled and recyclable polymailers for shipping. Plus, it plants a tree for every new membership.

Read the full article at WashingtonExaminer.com

Fayetteville Observer: “Don’t forget to accessorize before you head to the beach” by Jessica De Vault

Read the full article at FayObserver.com

It’s officially hot enough to fry eggs on a concrete sidewalk, which means it’s time to cool off at the nearest source of water, preferably the beach.

Before you hightail it to the nearest coastal town, be sure to pack some of these seaside essentials……..

A Good Beach Read

Nothing says relaxing like catching up on some seaside reading. If you’re the type to speed through a book in one afternoon, sign up for BookSwim, a program that allows you to rent books and return them when you’ve finished reading them. This “Netflix for books” concept beats purchasing all of your books or being placed on a waiting list for a bestseller at your local library. Bookswim.com. Prices start at $9.99 per month, plus shipping………

Read the full article at FayObserver.com

103.7 LiteFM Gene & Julie: “What’s Hot: BookSwim.com”



What’s Hot: BookSwim.com

CITYist Magazine: “Net Reads” by Eva Medoff

Read the full article at CITYist.com

Now readers of the Internet age can forget Barnes and Noble or that (sadly) antiquated establishment, the library, and opt for the anonymity of the web to obtain their reading material. Bookswim—billed as the “Netflix for books”—is an easy way for voracious readers to get bestsellers and keep potentially embarrassing summer reads under the radar.

Better yet, you don’t have to commit to any purchase, instead receiving—and sending back—books through the mail for a flat monthly fee (really—we were serious about the Netflix thing). The system could work for everyone from beach combers looking for a cheap read to serious bookworms—it does, after all, offer Wuthering Heights along with the latest from Lauren Conrad.

Read the full article at CITYist.com

TheStreet.com: “Do We Own the E-books We Buy?” by Seth Fiegerman

Read the full article at TheStreet.com

In today’s digital world, just because you buy something doesn’t mean it’s yours. If you have ever downloaded a song on iTunes or installed a piece of software on your computer, you may be surprised to learn that you don’t actually own these products. You’re just licensing them……

…..Then there’s the issue of being allowed to lend the book out to friends. Barnes & Noble made a splash in the market at the end of last year when they announced that the Nook would have a lending feature, something that neither the Kindle nor Sony Reader offered. But as Jeff Bezos, founder of Amazon, pointed out and other critics echoed, users are only allowed to lend out each book once on this device and only for a limited amount of time.

This issue is something that George Burke has struggled with more than most. Burke is the founder of Bookswim, a company that lets users rent regular books much in the same way that Netflix lets people rent movies. Now, Burke is looking to expand his business to include e-books. “The policy makes it an extremely difficult thing for us to transfer our business model of renting physical books in the mail to renting e-books. It requires an extreme level of permissions and contracts in place, which is tough for us,” he said……..

…….Google announced earlier this week that it will launch its own e-book marketplace called Google Editions in late June or July. According to The Wall Street Journal, “The company is hoping to distinguish Google Editions in the marketplace by allowing users to access books from a broad range of websites using an array of devices, unlike rivals that are focused on proprietary devices and software.” Some hope that Editions will focus more on user rights rather than just publisher’s rights, especially considering their ongoing project to scan and digitize all the world’s books. But even then, would we actually own the books?

Haber, the VP of Copyright Clearance Center, speculates that we may one day. Instead of paying $9.99 as a flat price for an e-book, publishers may allow for different pricing models where customers pay less to have the book for a couple months, or to buy just a few chapters, and pay more to actually purchase the whole book and keep it forever. But this could be years away. In the meantime, consumers will have to ask themselves whether ownership is all it’s cracked up to be. Maybe it’s enough to just be able to enjoy reading a book once through and forfeit the rest.

Techlicious: “Mother’s Day 2010 Gift Guide”

Read the full article at Techlicious.com

BookSwim Membership

If your Mom isn’t ready to take the plunge into ebooks, consider a gift subscription to an online book rental site, like bookswim.com. This Netflix-type service lets her have three or more books out at a time–New York Times Best Sellers, cookbooks and even children’s books. When she finishes and returns one, the next one on her list will be automatically sent out. And shipping is pre-paid as part of the subscription.

Subscriptions start at $24 per month for 3 books out at a time. Purchase a gift subscription at BookSwim.com

Read the full article at Techlicious.com

Real Simple Magazine: “If You Don’t Have Time to Hit the Library…”

Read the article at RealSimple.com

Discounts & Deals: Time-Saving Services

When you need a helping hand, use the codes here to score bargains on these brilliant assistants, chosen by Real Simple editors.

Real Simple Magazine - BookSwim

Real Simple Magazine - BookSwim

Visit Bookswim.com—a Netflix for books. Log on, choose your read, and have it mailed to your doorstep.

RS reader discount: 50 percent off the first month of any monthly plan (plans range from $10 to $60), bookswim.com. Enter the code REALSIMPLE50 at checkout.

Read the article at RealSimple.com

The Simple Dollar: “Digging Into the Rental Argument” by Trent Hamm

Read the full article at TheSimpleDollar.com

Shanna writes in:

You’ve written before about how Netflix is a good deal if you’re an avid movie watcher and Gamefly is a good deal if you’re an avid video game player. You’re an avid reader. Have you ever looked at BookSwim?

……….BookSwim basically functions like Netflix for books. You can check out some number of books at a time (depending on the plan you use). They mail the books to you with a postage-paid return mailer (a bag) and you can hold onto them as long as you want. When you’re done with a book, drop it in a bag and drop the bag in the mail – a few days later, you’ll get the next one on your list. Simple as pie, and exactly like Netflix…………

Read the full article at TheSimpleDollar.com

New York Examiner: “BookSwim offers book rentals for $9.95 per month” by Peggy Hazelwood

Read the article at Examiner.com

BookSwim offers book rentals for all types of books, including textbooks. The books are rented in a similar arrangement as movie rentals from Netflix.

From their Web site, the company states: “BookSwim is the first online book rental library service lending you paperbacks, hardcovers and now college textbooks Netflix®-style directly to your house, without the need to purchase! We stock all the latest bestsellers, new releases, and classics! Read your books as long as you want – no late fees! Even choose to purchase and keep the books you love! We are now also your gateway for textbook rental.”

The ways BookSwim is similar to Netflix is the books can be returned postage paid and kept for as long as the reader wants. The number of books that can be rented each month varies from one to five, depending on the plan. There is also an unlimited plan available that doesn’t limit the number of books that can be rented each month.

Referrals are encouraged at BookSwim. The BookSwim member who refers a friend gets a $10 BookSwim credit. The friend gets 50 percent off the price of creating a new account.

Read the article at Examiner.com

NBC Atlanta 11 Alive: “Bookworm on a Budget Rents Best Sellers” by Valerie Huff

Read the full article and watch the video at 11Alive.com

Bookworms can read as many books as they like for free just by joining the local library. But nabbing the latest best seller could take a while.

Amber Lawson reads between 15 and 20 books per month and joined Bookswim.com after realizing she was spending $125. every month in new and used book stores.

Now she’s down to $30 per month using BookSwim.com. “You can get as many books as you want for one set price and they send me all the books I want,” she said. Prices at bookswim.com start at 9.95 per month. Bookswim.com has different plans depending on how many books per month you want to read.

The books are mailed to subscribers along with a postage paid return label. “I send back the books I’ve read and they send me the next ones on my list,” said Lawson.

Lawson said she also has the option of purchasing a book she wants to add to her collection rather than returning it.

If you have a money saving tip you can email it to vhoff@11alive.com and follow Valuesval on Twitter.com

Read the full article and watch the video at 11Alive.com

Chicago Sun-Times: “Financial problems don’t have to impact reading habits”

Read the full article at SunTimes.com


Can’t turn away the latest best-selling novel even on a budget? Check out five Web sites to help you save and continue your reading habits:

• PaperBackSwap.com — Post books you’re willing to swap and earn credits when other readers take yours. You cash in the credits to grab someone else’s book offer.

• BookSwim.com — This service, similar to Netflix, lets you rent books at different levels of membership. The devout reader might check out the 11-at-a-time $60 plan.

• LibriVox.org — Download free audiobooks.

• ChiPubLib.org — Download e-books and digital books. Must be a member of the Chicago Public Library. Enter your library card number and ZIP code for downloads.

Read the full article at SunTimes.com

MomAdvice.com: Great Reads for Moms

Read the full article at MomAdvice.com

What if I told you that you could read all of these books for free? Well, today we are offering a fun reader giveaway for the avid reader in you! There is a great innovative book program out there called BookSwim that is a book rental program to help feed the bookworms in your family.

For the past few months, I was given a trial membership to share with you the details of how it works. The best way I can describe it is that it is just like Netflix. They send you a stack of books that you can read, you read and keep them as long as you want, and then you drop them back in the mail to return them to the company. They will then ship your next round of books for you to enjoy and the process goes on from there. The plans start at $9.95 a month and up, which is exactly the same price you might be paying for a movie club.

For me, the rental plan would not make sense. My library is the mecca of brand new books and (it seems) has unlimited amount of copies of the bestsellers. When I lived in Massachusetts and had a dated library that was never stocked with current books, I would have given my left arm to have a membership to BookSwim.

Here’s who it makes sense to for me:

1. My readers with small children who don’t have time to enjoy a leisurely visit to the library and are instead keeping their children well-read rather than themselves.

2. My readers who don’t have a great library system or access to great free books.

3. My readers who want to switch out their movie club membership for a book membership that they can enjoy with their whole family.

Lucky for you, I am giving away a free membership to BookSwim to one lucky reader. We will be giving one reader a three month subscription on their 3-at-a-time book plan!………….

Read the full article at MomAdvice.com

How the Dutch Auction Can Save E-Books

Quietly I’ve been watching the e-book pricing debate and the feuds between Amazon and many publishers.  I’ve seen quite a few interesting articles on the price of e-books from heavy hitters such as Cory Doctorow (via podcasts) and articles such as this.  There are tons of other articles I’ve read lately and all of them seem to be offering perspectives but very few of them (if any) provided an actual step by step solution that publishers can follow to solve this crazy complex question of HOW TO PRICE AN E-BOOK.

The solution is simple – Dutch Auctions. (wikipedia entry)

For those that are unfamiliar with a dutch auction and don’t feel like reading here’s a short summary

1) The seller sets a quantity of an item to sell, the description of the item, and a time to keep the auction open
2) Bidders get to select a price and quantity they wish to buy at.  For example, they can say they are willing to pay $50 each for 10 units.  Their bid is a contract and should they be a winner, they must pay and will receive the item.  (The second part is key to getting people to be honest in their perceived value).
3) When the auction is over, starting with the highest price, quantities are matched until the quantity is met and that is the price that the top bidders get.  (Ok, this is a mouthful, see the chart below)

EXAMPLE:
Stated Quantity: 80
Bids:

Bid Quantity Bid Price
10 $100
20 $80
50 $50
100 $25
1000 $20
10000 $15

In this case,the quantity level would be met at the price of $50 (10 + 20 + 50), so the 80 people who bid $50+ would be sold the item at $50.

Got it?  Good.  Cause now comes the fun part.

If you have ever taken econ 101 or had to sit into a business meeting with a CFO, you’ve seen this before.  Its the supply/demand curve.  Most of the articles that have talked about e-book sales have mentioned that publishers need to figure out the supply and demand curve for e-books so they can solve the pricing problem.  Well, I’m about to explain how dutch auctions will solve that problem, and how to make the data work.

The Information a Dutch Auction Provides
1) The number of people willing to pay a given price for e-books
2) The distribution of people at a given price
3) How scarcity effects price

To keep this discussion short(er) and focused, I will NOT touch upon hardcover/paperback releases or pricing.

How Does a Dutch Auction Solve This Problem?
If you look at the chart above with bid quantity and price, as you see, your quantity increases as your price decreases.  In actuality, there will be a cutoff where a reduction in price will not yield a significant gain in quantity.  To save on time and screen space, I will use the above table in the rest of these examples.  From the data, we’ve learned that we have a demand of 11,180 from the sample size of people who knew of the auction.  Based on this data, if we know 10% of our addressable market saw the auction, then we have potential sales of 111,800 (assuming that we sell it at $15).  We also see that we have a potential of 11,800 if we sell it at $20.  With this, we can actually plot out that supply/demand curve.  (I will address data quality issues later).  I’ve addressed facts #1 and #2 above.  As for scarcity, based on the quantity defined in the dutch auction, you will have different price distributions (which can help address limited editions)

How Can This Be Done With Statistical Accuracy?
I have a reasonable schooling in mathematics and have held quite a few positions being “the stats guy” so I understand the importance (and irrelevance) of limited/bad data.  Below are the steps to gather enough data so that the information gathered will be statistically relevant and will provide a reasonable cross section of information.

Providing Diversity Within Data:
1) For all of the following lists, they will need to be repeated for the following groups (Suggested min 5 authors per group):
a) Mass market (high recognition) authors such as James Patterson, Janet Evanovich, Stephanie Meyer
b) Niche market (high recognition within a niche) authors such as Neil Gaiman
c) Mid-market (medium recognition) authors – this would be a multi-published author with some popularity
d) Debut authors.  For best results, ignore previously well known figures
e) Celebrities.  It seems their putting out books in greater frequency and you can’t ignore them.

How To Collect The Data:
There are a few rules that need to be followed for any of this to work.  A failure to follow any of these rules will compromise the data and provide less accurate results
1) There needs to be a limited quantity that will be provided during the dutch auction.  This quantity should be less than the total demand (60% or so).  Prior sales can be used as in indicator.
2) This must be the only channel in which the e-book can be purchased.  There must be at least 3-4 months delay before the e-book will be available outside of this dutch auction.
3) No pricing data should be available in the auction description.  Bidders must not be given starting points for comparison with such immediacy.
4) Traffic must be driven to the auction site.  Quantity being sold during the auction should be driven by the expected traffic that will make it to the auction.
5) The auctions should be run during the month or two leading up to the release of the book and should end on the day the book is released (so that winning bidders can receive their e-book on the day of release)
6) Bid quantity must be fixed at 1 unit and bidders only allowed one bid.  This will keep out people trying to fix results or bulk buyers.  The goal is to find out what consumer demand is.

Summary:
1) Publishers should run 20-25 dutch-auctions to gather data on the supply/demand curve of books
2) Publishers should control the supply of those e-books to get an accurate idea of demand distribution
3) After data is collected, a reasonable idea of what specific types of books with different marketing spends/author recognition look like will be gained

I realize this is a blog post, and I’m speaking to a general audience, but I will be available via comments and e-mail (nruffilo@bookswim.com) if you have further questions about this.

-Nick