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It is now clear that it is as disruptive to today's newspapers as Gutenberg's invention of movable type was to the town criers, the journalists of the 15th century.

The Internet wrecks the old newspaper business model in two ways. It moves information with zero variable cost, which means it has no barriers to growth, unlike a newspaper, which has to pay for paper, ink and transportation in direct proportion to the number of copies produced.

And the Internet's entry costs are low.

in my view there is no need for a digital editor as such in a trade publishing house, rather an editor who understands the digital world:

it’s marketing that will have to continue to change the most to find new readers and new ways of reaching readers.

Writing that uses new media by incorporating visuals, sound, movies and so on in different delivery platforms such as the new Sony Reader, Alternate Reality Games mixing narrative and interaction by readers and contributors, self-published material, collaborative wikinovels and other kinds of informal, or extra-formal creativity, are exactly the kind of material that a traditional trade publishing house such as Pan Macmillan, however innovative, finds it very difficult to use, or even acknowledge, in a publishing process, and it’s unlikely to be seriously practical in the short term, which means until someone can think of a way to make money out of it, not least because digital projects are typically seen by customers and authors as free or very low-cost, when in fact they’re often more expensive than traditional ones because of the high set-up and development costs

"What I believe—and this is what we're putting to the test—is that as you're putting something online free of charge, you may lose a few sales, but you'll gain other sales because more people will know about it," said Frances Pinter, Bloomsbury Academic's publisher.

She would like Bloomsbury Academic to demonstrate that publishers can add editorial value to scholarship without having to choose between locking it down or giving it all away.

iTunes is more of a tollbooth

much the same with digital books

But though I can't predict specific winners, I can offer a recipe for recognizing them. When you see something that's taking advantage of new technology to give people something they want that they couldn't have before, you're probably looking at a winner. And when you see something that's merely reacting to new technology in an attempt to preserve some existing source of revenue, you're probably looking at a loser.