The world of digital books: A promising but slippery path – Brand Wagon News

India has already witnessed a digital revolution in recent years, thanks to relatively cheap internet and several initiatives taken by the government. Not to mention, the publishing industry has also seen evolution due to rapid digitalization. People, especially Gen-Z, have shifted more towards ebooks and online reading platforms like Google Books, Project Gutenberg, and Kindle Store, among others. The field seems to have a bright future. The ebooks market in India is projected to reach a revenue of $236.4 million in 2024. The sector is expected to have a compound annual growth rate of 5.78%, resulting in a projected market volume of $279.80 million by 2027, as per a report by Statista . However, this exciting sector has its challenges. From plagiarism to standardization, the industry needs to address a few challenges to grow.

Thief, thief, thief

In simple terms, this is a kind of digital black market that drains the industry‘s growing slowly. The act of presenting someone’s work as their own without giving them credit undercuts the legitimate sale of publishers. Although Section 66C of the Information Technology Act 2000 punishes the guilty with imprisonment of either description for a term that may extend to three years and shall also be liable to a fine that may extend to rupees one lakh, it has loopholes.

Digital discrimination

Digital discrimination in India is not a myth. A report by ICRIER clearly stated that India as a nation is highly digitized, the average Indian is not and nearly 48% of Indians do not have internet access, and the quality of Internet service does not match up to other G20 countries. It proves the point that not everyone has access to a suitable Internet connection to read an e-book, which creates a barrier for a large portion of the population.

E-books: Cheap or premium?

Although it is considered that ebooks are cheaper than physical ones, it depends on many factors such as author, publisher, and genre. Considering the condition of the physical book market in India, where paperbacks happen to be the most sellable ones, e-books become a premium choice for many readers, especially for students who belong to the middle class. However, the barrier resides in the fact in addition to accessing it from laptops and other devices, users are required to buy products such as Kindle by Amazon.

Finding the perfect marketing strategy

In an era where the bombardment of continuous information has become normal, digital publishers and authors have found it difficult to stand out above the crowd. With audio platforms developing 20-30 minute audio-story versions of almost every category of books, the quest to find effective marketing strategies becomes crucial for publishers. What’s more in case of view apps readers are given coins or tokens everyday allowing them ready select chapters in cases where they do not want to spend directly. But this is also a way to keep the audience glued to the seat and build a reading habit.

Right to earn: Authors

As per Pubishdrive, a publishing enabling platform, traditional publishing royalties are around 10-15%, while self-publishing royalties go anywhere from 35-70%. Authors collect a higher royalty percentage when self-publishing. It further states that the royalty rate refers to the percentage for every book sold, based on the retail price. Standard royalty rates for authors differ between self-publishing and traditional publishing – the two routes available for publishing a book.

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