Technology has been changing the way we live our lives and the world we live in today, as compared to decades ago. As technology continues to develop rapidly, it creates new ways of conducting business, disrupting the existing industries and creating new markets.
In the video, we discussed how technology has disrupted the book industry with two technologies from Amazon, namely Amazon Kindle and Amazon Self’s Publisher.
The Kindle is a portable device that enables users to buy and read e-books and many other digital media contents, serving as an alternative for traditional print books. The demand for e-books will only continue to rise, however the intensity of competition is limited, as not many competitors can compete with the quality of the Kindle’s. Therefore, we believe that Kindle will continue to thrive at least for the next five years. Nevertheless, just as with any technological inventions, without new innovation, the lifecycle of Amazon Kindle will reach decline.
Meanwhile, the growth of Amazon’s Self Publishing service is heavily influenced by the growth of the Kindle. This technology enables authors to self-publish their work, bypassing the traditional publishing methods. With the strong brand power of Amazon, supported with the low level of rivalry in the industry, the Amazon Self’s Publisher has the opportunity to increase its market share and dominate the book industry.
We perceive the existence of both technologies as complements to each other, adding to each other’s growth. Both technologies have revolutionized what we read and the way we read it, digitalizing what was previously print and exposing us to niche titles. Despite this, we believe that there are certain aspects of this industry that technology could not replace.
Traditional print books are provenance and nostalgic, giving customers a unique experience that no e-reader can compete with. An added advantage of print books is that some can be kept as collectible items, increasing its value over time. This potentially serves as a huge threat for the existence of the Kindle and the Self-Publisher, as the users may still have a more meaningful experience with traditional print books.
While it is true that both technologies are disrupting the industry, the big question lies in the continuity of the technologies. Will it survive? Or will it die? To conclude, we believe that in order to survive the dynamic environment of the book industry, the Self-Publisher and the Kindle need to be continuously innovated and improved. Both technologies need to be able to provide added value to users, in order to survive and remain competitive in the long run.
Information Strategy Group 23
Riemer Bovet (363760)
Jack Erkelens (360249)
Faustina Theodore (382600)
Nadia Karina (365694)
https://www.theguardian.com/books/booksblog/2014/mar/31/paper-vs-digital-reading-debate-ebooks-tim-waterstone
