In the recent Media Festival event of The August Fest, held at the Welingkar Institute of Management Development & Research, Mumbai, I had the great honor to address the general trends in Publishing Industry and specifically the disruptive models that have and will continue to transform publishing.
Since the early 1400 AD of the Middle Ages to all the way up to the year 2010, there has always been a linear flow from the Author to the Reader. The Distribution channels evolved rapidly towards the end of this period. From paper to e-book, as the technologies evolved, so did publishing.
Something interesting happened in 2012. MIT came up with their not-for-profit MITx. Soon Harvard joined the group, and launched edX, along with multiple other universities. Suddenly, learning and soon digital content became more accessible and economical, and the age of Digital Disruption took prominence. The publishing industry has been ever since undergoing a rapid transformation. Today, I have countless channels to not only publish my content but create interactive spaces for making my audience, readers, and viewers more engaged. From Audio to Video, from Games to Virtual Reality, there has never been more variety of mediums to get your content across.
What is Publishing 3.0?
If you think, Digital Disruption is just a technology shift, you couldn’t be more wrong. Digital Disruption is a paradigm shift that is changing and transforming business models and how we, as a consumer as well as creators engage with each other. That is Publishing 3.0, the disruptive models that are going to influence the Publishing Industry.
Let us take two specific fields. In Fiction, the application of Future Disruptive models are endless, both in the way content is created and consumed. Imagine a book, it has a great premise and builds up the narrative in an interesting way. Halfway through the book, just at an important narrative point, the protagonist faces a Moral Dilemma and has to make a story defining decision. Now imagine if you have the option to select the decision the protagonist makes. You have two (and probably multiple) sets of stories at your fingertips and multiple alternate experiences to have!
- Animations & Simulations,
- Mobile Learning,
- Gamification, and
- Virtual Reality
Now, using these various elements you can create a host of learning models which help learners from various backgrounds and contexts, from various levels select the best model that fits their approach – collaborative learning, mentored learning, flipped classrooms, adaptive learning, on-demand learning, social learning, guided learning – the list is endless. These dynamic learning models have certain attributes that give them intrinsic values, which in turn make them a premium.
However, note that whichever medium you choose and what so ever may be your content format, one feedback from disruptors and successful game-changers remain constant – whatever you build, ensure it solves a customer problem. Do not just create another set of content – first understand your customers thoroughly and then provide something of value.
If you are an entrepreneur in the Publishing Industry, it is indeed an exciting time to be here. The most important question that an entrepreneur should ask is:
Am I here to Disrupt?
And if yes, the next question should be: