Penguin CEO: E-book is the answer to my prayers

[Alexander Turcic]

While this doesn't mark the first time that we've caught wind of Penguin's recent efforts in e-books, it certainly is balm for my battered soul to hear the CEO speak out so positively about them:

I got the Sony Reader, and then I got the Kindle as well, and I never thought I would like it, but I do. Now on the Kindle I download manuscripts so I don't have to lug them. I took a 1,250-page manuscript the other day when I flew out of New York, and I stuck it on my Kindle. It was like, thank God I don't have to carry this [paper] thing and then feel guilty because I'm tearing up the pages because I don't want anyone to find it because it's not edited yet, and I don't want to carry it all the way back (laughter). So this is the answer to my prayers.

I think we have interesting times ahead of us on the e-book. We don't know yet what the price point on the e-book should be. On the one hand, we have people who say it's nothing but magnetic dots and dashes, it should be this [low] price. And I feel that it's a tremendous convenience to offer this format and that once you get into it it's the same reading experience and enjoyment for your money as if you had to carry this big hardcover around, so we're charging full price for it.

Alas, he doesn't agree with my personal feeling that e-books should sell at a considerable discount to p-books. Oh well.

Check out the Houston Chronicle for the full interview with Penguin Group's CEO David Shanks.

Related: Penguin USA to release back-list titles as e-books, Penguin to publish new titles simultaneously as e-books

[HarryT]

Originally Posted by Alexander Turcic

Alas, he doesn't agree with my personal feeling that e-books should sell at a considerable discount to p-books. Oh well.

When the eBook offers MORE than the paper book, however, I have no problem with paying more for it. Eg, Penguin have recently released an "enhanced" eBook version of Jane Austen's "Pride and Prejudice" which has enormously more content than the paper version in the way of "extras" in the form of both notes on the text, and general information about life in early 19th century England.

It's a little cheaper than the paperback version of the book, but when you're getting so much for your money, I'm happy to pay it. In that specific case, if you just want the basic text, you can of course get it free.

[Over]

it's the same reading experience and enjoyment for your money as if you had to carry this big hardcover around, so we're charging full price for it.

The full price for that experience (the content) should not include the expenses with paper and other costs attached to it. Why pay for something that doesn't exist?

[pieter]

Nice try to make me think of the price of an ebook only in terms of my experience of it. If I think it's just magnetic dots and dashes my experience of it warrants a low price, but if I think it's really convenient and I get into it, then I should agree to pay a high price for it.

That's like selling air for 100$ for a rooms worth. What? you think that's too expensive? Think about the life saving experience you get from it? Surely you should be happy to pay 100$ for the convenience of being able to breathe.

[zelda_pinwheel]

Originally Posted by pieter

Nice try to make me think of the price of an ebook only in terms of my experience of it. If I think it's just magnetic dots and dashes my experience of it warrants a low price, but if I think it's really convenient and I get into it, then I should agree to pay a high price for it.

That's like selling air for 100$ for a rooms worth. What? you think that's too expensive? Think about the life saving experience you get from it? Surely you should be happy to pay 100$ for the convenience of being able to breathe.

stop it, you'll give him ideas.

i too am disappointed by his attitude toward e-book pricing, although it was foreseeable. i wrote to penguin about this issue recently (it's probably in one of those "related threads" Alex linked) and got a standard copycutter reply back, but if anyone knows where i could find an email address for Mr. Shanks himself i would be happy to renew the experience...

[cottonball]

Why would I agree to pay full price for an e-book when DRM will likely make my book obsolete sometime in the future? The same can't be said of the paper version.

[TadW]

My counter-argument:

When I own a p-book, I can lend it to anyone anytime under any condition. In the case of e-books, or the Kindle to be more specific, I cannot do this.

Amazon's Terms of Services prohibit distribution to a third party. Libraries, for instance, cannot "sell, rent, lease, distribute, broadcast, sublicense or otherwise assign any rights to the Digital Content or any portion of it to any third party."

[Steven Lyle Jordan]

Charging a premium for convenience--and, at this point, novelty, which is still an issue with e-books--is, of course, nothing new. However, when more outlets offer e-books, and the convenience becomes old-hat, prices eventually get driven down to more closely match raw profit over expenses. How soon? Don't hold your breath (in fact, bring an oxygen talk), but eventually.

Best news is, hearing a major industry executive who handles a lot of large documents describing how the Kindle makes his work life easier. You don't get much better testimonials than that. (Maybe if it came from some Fortune 100 CEOs...)

[TallMomof2]

Guess I won't be buying many Penguin ebooks. If I want to pay hardback prices I'll buy the hardback. Since I do not buy paper books anymore I won't be buying from Penguin.

IMO, an ebook is worth less than the paperback version. As much as 25% to 50% less because I'm not really buying the book but only leasing it. I can't resell an ebook or even give it away (legally). That makes an ebook have far less value for me. If the book is DRMed out the wazoo, then it's not all that portable either.

[Taylor514ce]

Plus the cost of the device itself. Publishers should be giving them away, if they really want to charge "full price" for a product that's cheaper for them to produce. Buy 5 e-books, get a free Reader!

[zelda_pinwheel]

Originally Posted by TallMomof2

Guess I won't be buying many Penguin ebooks. If I want to pay hardback prices I'll buy the hardback. Since I do not buy paper books anymore I won't be buying from Penguin.

IMO, an ebook is worth less than the paperback version. As much as 25% to 50% less because I'm not really buying the book but only leasing it. I can't resell an ebook or even give it away (legally). That makes an ebook have far less value for me. If the book is DRMed out the wazoo, then it's not all that portable either.

that's how i feel as well, although if we add drm into the equation i would say *less* than 50% of the price of a paperback. my principal reason for a price reduction is because of the reduced production costs inherent to the digital medium.

[zelda_pinwheel]

Originally Posted by Taylor514ce

Plus the cost of the device itself. Publishers should be giving them away, if they really want to charge "full price" for a product that's cheaper for them to produce. Buy 5 e-books, get a free Reader!

hey, NOW we're talking !!!

[Over]

I would prefer cheaper eBooks than free eReaders. In the long term.

[TallMomof2]

Definitely prefer cheaper ebooks than free readers. I've spent far, far more on ebooks than devices.

[zelda_pinwheel]

well, probably me too, honestly... but a little of both certainly couldn't hurt.