Paul Kedrosky’s Charts Newsletter had this wonderful graphic highlighting the increasing woes of traditional media formats, thanks to millennials and GenZ. However, things don’t look bad for one category: books.
Kids (and older kids) are still reading books at a decent clip, and perhaps will continue to do so, mostly it is a good antidote to the fractionalized and noisy media environment. This is such a huge opportunity for innovation around the “book” format.
With digital book formats and the rise of audiobooks, there is an opportunity to make books more in sync with the new audience. For start, books could be leaner — most books are about 50 percent overweight. They could be published faster — the current cycle takes somewhere between 18-to-24 months before a book is available to the readers. My ideal book — given my millennial like attention span — is one that takes an equivalent of a flight across the country.
The old fashioned paper books have one problem — they take up too much space. I grapple with that issue all the time — I have too many books and need to give some away!
November 13, 2020, San Francisco