The Future of Books & Reading: Part 1—Textbooks | Against The Grain

"The textbook market faces a myriad of challenges as it faces the future—from technology, industry consolidation, government mandates, and new marketplace realities. 'The average U.S. college student spends $500 to $1,500 annually on course materials. This creates a nearly $10 billion industry, of which about $6 billion is addressable for textbook publishers,' a recent McKinsey study notes. 'Our research suggests that textbook rentals will start to cannibalize new-textbook sales by 2017, resulting in a reduction in new-book sales of 5 to 10 percent by 2020. That equates to as much as $500 million in lost sales. Textbook publishers face crucial choices about how to respond to these changing competitive and marketplace demands. Yet they can fight back—and dramatically improve how they support student learning.' Even in the K-12 marketplace, change is unsettling the marketplace as institutions and schools alike sample new ways to present content to enhance learning and establish a foothold in the future of this huge market segment ..."