Mike Shatzkin ebook subscriptions.
Personally, I think this is another one of those things where the initial incentives for publishers to jump on board are low, but the long-term prospects are inevitable. The deck here is stacked for the sub services themselves, to the point where I’m not even sure how tradpub could “win”, exactly.
Change or die time, round… what are we up to now? Three? Four? Something like that.