What can publishers do to reverse shrinking markets? How do we kickstart growth?
These questions were asked by David Worlock, Member of the Forum‘s Editorial Board, in the closing panel. His questions are all linked, as he explained, to the „networked society“ and the „networked economy“.
Fionnuala Duggan, Member of the Editorial Board of the Forum, and a specialist in Education, among other fields, said that publishers need a different and open mindset to embrace & implement new business models – so growth can be achieved.
Joerg Rheinboldt vom AXL (formerly from Axel Springer Plug & Play, AXL is a joint venture of Axel Springer & Porsche) stressed the importance of „doing things together“. About the newly established cooperation he explained that free spare time might be the result of automation and self-Driving cars, so this time could be used by reading – with content from Axel Springer.
Joseph Evans from Enders Analysis said that publishing needs to focus on what really differentiates publishing from other industries, in order to enable and strengthen growth. It would be wrong to just focus on reducing costs and/or investing in technology that promises growth. A path for sustainable growth would be, he added, to move from a portfolio of products to a portfolio of services.
Fionnuala added that skills are also an important aspect to look at and to invest in, plus technology partnerships and addressing the complexity of the rights issue.