The publishing industry is only a portion of the entire printing industry; thus, the book publishing industry largely affects the book printing economy. According to IBIS World, “the Canadian Book Publishing industry experienced moderate and consistent declines during the five years to 2016” (2016). Industry revenue is forecasted to decline at a rate of 4.4%. There has been a decrease in print book sales, but electronic books (e-books) have begun to increase; therefore, publishers are seeking to increase revenue through e-book sales. “20% of [Canadian] book-buyers reported buying one or more e-books over the year… the United States reported figures closer to 30% over the same year” (IBIS World, 2016). If all publishers were to decide to focus their attention to
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Despite the increase in productivity due to new technologies and automation, the cost of obtaining paper has increased to which manufacturing books have increased in price as well. With this, it can be forecasted that to keep competition, books may need to be produced with cheaper quality paper or profit margins would need to be reduced. This factor will also influence how publishers view e-books as, based on current trends, it can become an easy substitute for printed books. Competition not only lies between printers and publishers, but also in how consumers use their leisure time; thus, the competition circle expands to not only the publishing industry, but also the TV, movie, entertainment industry. In addition, “companies have started printing in smaller quantities of books to downsize stockpiles and decrease storage costs” (IBIS World, 2017). As offset printing is only profitable with longer runs, new digital technology may need to be implemented in order for companies to be profitable and comply with the
Despite the increase in productivity due to new technologies and automation, the cost of obtaining paper has increased to which manufacturing books have increased in price as well. With this, it can be forecasted that to keep competition, books may need to be produced with cheaper quality paper or profit margins would need to be reduced. This factor will also influence how publishers view e-books as, based on current trends, it can become an easy substitute for printed books. Competition not only lies between printers and publishers, but also in how consumers use their leisure time; thus, the competition circle expands to not only the publishing industry, but also the TV, movie, entertainment industry. In addition, “companies have started printing in smaller quantities of books to downsize stockpiles and decrease storage costs” (IBIS World, 2017). As offset printing is only profitable with longer runs, new digital technology may need to be implemented in order for companies to be profitable and comply with the