When we talk about inkjet technology and its benefits, the conversation tends to revolve around transaction (invoices, bills, statements) and promotional (direct mail) pieces. But in this webinar titled Inkjet: Implications for Book Printing Manufacturers and Publishers, InfoTrends’ Group Directors Barbra Pellow and Jim Hamilton bring book printing into the conversation. As they highlight, book printing now makes up roughly 20% of the inkjet marketplace, and is one of the fastest growing sectors towards adopting this technology. The webinar explores why the shift is occurring, defines emerging technologies, and discusses the financial implications of adopting a high-speed inkjet digital business model.
To understand any industry shift, it is important to consider social and financial factors that contribute to the changes in trends. In 2010, Hamilton cites three key conclusions about the changing dynamics of the book publishing industry. These include: “content is king, publishing is becoming more of a service than a product, and the days of high-volume book manufacturing are coming to an end.” By 2014, Hamilton affirms these conclusions are more prevalent than ever before with 1st mode publishing, just-in-time manufacturing, and print-on-demand services. In fact, with the onset of e-delivery, Hamilton proposes that the entire definition of a book is evolving. Now books are also electronic, on-demand, interactive, contain personal content and are delivered via multiple channels.
Although digital channels are rising in popularity, print remains one of the most effective delivery methods. In a recent PEW research study, it was found that 7 out of 10 adults read printed books. Only 4% of readers are ‘e-book only’, where as the majority alternate amongst digital, print, and audio channels. Likewise, print remains a significant source of publishers’ revenue. All of these trends, grounded in research, highlight the need for digital print solutions that can get personalized product to market in order to meet the needs of both publisher and consumer.
Book printers and publishers are realizing that production digital print provides a more effective method of manufacturing. Shifting from offset, the biggest growth opportunity now lies within inkjet color continuous feed technologies. From wharehousing and distribution to the integration with cross-media and interactive components, digital inkjet solutions provide the capacity to fulfill publishers’ demands. Essentially, the digital printer becomes a virtual document wharehouse, in which inventory is produced at the click of a button within a given workflow. And it all comes at a reasonable price with inkjet. The final portion of the webinar lays out the impact of print volume over cost distribution. In the projection, fixed costs like equipment and monthly service fees decrease per unit as volume increases, but the cost component from click charges and ink increase as volume increases. These numerical relationships are important to consider once you’ve determined how ‘long’ your run should be.
“Technology is becoming your friend in the publishing market,” claims Pellow. Inkjet technology in particular seems to provide the highest quality solution and workflow to meet the end goal. For more on cost factors, black versus color printing breakdowns, and the full list of benefits of inkjet, be sure to check out the full webinar here!