In a recent International Business Media class, we had 3 guest speakers that worked as publishers at major houses. A significant portion of their visit was spent discussing the diminishing revenues due to the continuing drop in book sales at traditional retail outlets.
Additionally, the publishers discussed how their job has changed from that of traditional marketing and distribution support to a new multimedia focus. This includes working with a writer to create a blog, a website, a facebook page, email marketing/advertising and other non-traditional online marketing/advertising. However, when asked if they were able to monetize any of this new Internet activity and traffic to help increase their revenue (and that of their writer), they responded that their respective firms did very little in this regard. One of the speakers boasted that they have created an "Alternative Revenues Group" but that it currently produced little revenue.
It would seem and will be interesting to watch whether the changing role of a publisher forces them to change their revenue models to one that includes more advertising based revenue.
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