I took over the Panorama Project last July—which really does feel like two lifetimes ago—so as my anniversary looms, it's a perfect time to check-in and see how things are progressing. It was only three months ago that the Panorama Project was gaining some real momentum, coming off a productive PubWest gathering and announcements of two major initiatives for 2020: Immersive Media & Reading 2020—Consumer Survey, and the Library Marketing Valuation Toolkit. Despite everything, Panorama's work hasn't halted, and our two big initiatives continue to move forward.
Hyper-current events aside, 2020 has gotten off to a productive start for the Panorama Project, hot on the heels of my Publishers Weekly op-ed challenging the industry to take question of libraries more seriously. Since then, we released our annual report and announced two major new initiatives; I was a featured speaker at PubWest 2020; and I did fun interviews with Library Journal and Book Riot where I got to discuss my work in more detail.
Another notable factor that publishers seem to have trouble acknowledging is that books—especially ebooks—don't exist in a vacuum, competing only with other books published that month, but they fight for attention and discretionary income with every other immersive media format, too. Movies, TV, and gaming have all seen their own versions of digital disruption—not to mention other areas of publishing itself—so the idea that the one compelling villain to blame a decline in consumer ebook sales on is public libraries would be laughable if it wasn't so short-sighted and suicidal.
Things have been a little quiet for me on the library front recently—periodic Twitter rants aside—as I've been working behind the scenes on refining the Panorama Project's focus for 2020 in light of recent events, identifying areas where we can have a measurable and actionable impact and figuring out how to implement the right initiatives. While I'm excited about what's in development for 2020, it's still too early to announce any of it, but two articles I wrote recently offer a glimpse of where things are heading.
In a letter sent to “Macmillan Authors, Macmillan Illustrators, and Agents“ on Thursday, July 25th, Macmillan CEO John Sargent announced new lending terms and pricing for library ebooks, claiming library lending was “cannibalizing sales“ and impacting royalties as revenue from library sales are “a small fraction of the revenue we share with you on a retail read.” While the embargo is disappointing news for libraries, authors, and, most importantly, readers—it reinforces the need for a cross-industry initiative to identify ways publishers and libraries can continue to support their intrinsically related missions while delivering mutually beneficial outcomes.