A few years ago, trying to explain the difference between how books had weathered digital change compared to other media, I formulated the paradigm of the “unit of appreciation” and the “unit of sale”. The music business was roiled when the unit of appreciation (the song) became available unbundled from the prevailing unit of sale (the album). Newspapers and magazines presented individual articles that were appreciated within a total aggregated package that were the unit of sale. The ability of consumers to purchase only what they most appreciated shattered the business models built on bundling things together.
[…] For novels and narrative non-fiction, where the unit of sale equaled the unit of appreciation, simple ebooks have worked. That’s been great for publishers, since the ebooks — even at lower retail prices — deliver them margins comparable to, or even better than, what they got from print books.
But there is a big challenge related to this paradigm that the industry hasn’t really tackled yet. The “unit of appreciation” for many books is the author. And the “unit of appreciation” is also the “unit of marketing” and therein lies the problem. Because the industry hasn’t figured out how to bring publishers and authors together around how to maximize the value of the author brand.
–Mike Shatzkin on units of sale.
“What do you want to be when you grow up, Alis?”
“I want to be a unit of appreciation!”
Oh day, lil’ Alis. One day…