This Gemstar is looking better and better. When they announced the addition of the e-books, I really didn't care that much, sorry I didn't see the potential. Now the light is beginning to brighten. I have been long for quite some time and it looks like I am going to have this stock for a lot longer.
biz.yahoo.com
Thursday March 16, 9:13 pm Eastern Time
King book shows evolution of e-book market
By Dick Satran
SAN FRANCISCO, March 16 (Reuters) - The stunning demand for Stephen King's ``Riding the Bullet,' published online this week, removed any mystery about whether an audience exists for books pushed over the Internet, publishing experts said Thursday.
But the future form of the book -- electronic or paper -- is shrouded with literary ambiguity as the publishing industry decides its future in the digital era.
For now, publishing giant Simon & Schuster is basking in the success of its first virtual best-seller. Two days after its release, ``Bullet' has been downloaded by a half million readers.
``There is no comparison to any print release I've heard of -- this is probably the most successful book launch of any type in history,' said Keith Titan, Simon & Schuster's online marketing manager.
The electronic book was continuing to generate thousands of downloads an hour Thursday through a variety of online outlets from Amazon.com Inc to RoketBooks.
The 16,000-word King novel was released Tuesday at a list price of $2.50, and given away free by some sites trying to publicize their electronic book divisions.
Simon & Schuster called the e-publication ``an experiment' and didn't disclose its financial arrangements, except to say King and the publishing company were both paid for all of the legal downloads.
The publishing industry, plagued by sluggish growth for years, watched the development with keen interest, and some apprehension. Electronic publishing promises to eliminate some of the biggest headaches in the industry, like heavy returns of unsold books and high distribution costs. But it also threatens chaotic change in a conservative and cliquish industry.
``We're all on a steep learning curve with this,' said marketing manager Gayle Treadwell. ``Certainly there are worries about copyright, and other new issues. But for all of us there is value in learning how to public electronically and do it well.'
The vast majority of the Stephen King e-book copies went for consumption on personal computers, where users can read them on their screens or print out a copy on paper.
A smaller number went to the rising class of products known as electronic books, or e-books, which are hand-held computers designed specifically for reading, with lighting and software aimed at imitating the printed book.
``This is an important event and an exciting event in the evolution of e-books,' said Jim Sachs, chief executive officer of Softbook Press, which makes the leather-bound Softbook.
But Sachs, and others in the e-book industry suggested that many who view the book on their computer screens -- instead of on e-book readers made for longer reads -- will be disappointed.
``The idea of reading on a PC is ludicrous,' said Sachs. ``What we anticipate is that the hundreds of thousands of people who may actually get a copy of the book may find that reading on a PC is not a good experience. Most people don't like to read that way -- except for very short items.'
Book publishers also are worried that copyright issues haven't been worked out in the personal computer book market, although most are willing to sell their book lists to publishers like Sachs's Softbook, owned by Gemstar International Group Ltd. (NasdaqNM:GMST - news), the technology group that publishes TV Guide and also owns another leading e-book maker, Rocket eBooks.
Harvard Business School Press has published 40 books electronically in the past year, or about the same number it's published in print form. But while it's been willing to go through electronic publishers like Softbook, whose systems are designed to make copying difficult, they are reluctant to publish direct on the Internet. ``We are still waiting for copyright protection and encryption to improve somewhat before we do that,' said Harvard's Treadwell.
While the publishing industry thrashes out such concerns, online readers were eagerly snapping up the online book. The first day downloads were five-to-10 times the level of even the biggest blockbuster written by a Tom Clancy or a John Grisham.
But Paul Duguid, a University of California at Berkeley cultural studies researcher and author of ``The Social Life of Information,' said the tech industry is notoriously prone to fashion, and e-books could be a passing fancy.
``It's really hard to discover what part of it is fad and what part of it is real,' said Duguid.``If it wasn't being given away free, or for $2.50, and if it wasn't Stephen King, and it wasn't one of the first times you could do this, it might not have been so popular. Let's see what happens when it's $35.'
Good Luck and thanks Stew
Don |
