From Digital Book World:
A month or so ago, Facebook reported its earnings for the fourth quarter of 2015, and let’s just say they crushed the ball. Knocked the cover off. Pointed to the bleachers and then hit it out of the park.
The big moneymaker was its burgeoning video ad business. Facebook states that people are watching 100 million hours of video per day on its social platform. More than 500 million people watch Facebook video every day. Just let that sink in. Facebook isn’t simply a video discovery platform; it’s becoming the video discovery platform. And it’s still growing.
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While people in the publishing industry may find this interesting, most won’t find it particularly relevant. To ignore this news, however, would be a monumental mistake. Don’t underestimate what Facebook is and what it is becoming. Facebook is the world’s best discovery platform, and it makes money by going after digital content that keeps people spending more time on Facebook. And after video, there is a clear line to ebooks.
As dominant as Amazon currently is in ebooks, the retailer’s major weakness is discovery. More often than not, users have to find a book somewhere else and then go to Amazon and purchase it. There are additional, unnecessary steps in their process, and the company has no easy way to remedy it.
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Facebook has more than a billion users on its site every day. Friends and family are sharing everything they are watching and reading, and Facebook is getting better and better at finding ways to keep people on the site. Articles are short reads and people can leave quickly. But if Facebook had a reader for ebooks, the amount of time people would stay on the site would climb exponentially.
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The bookstore of the future is not centralized. It is decentralized, and it will give readers the ability to buy their books wherever they are, whenever they want. Readers will get their ebooks over wifi at Starbucks as a reward for buying their Under Armour running gear from the local community college, in the Target check-out line, in their McDonalds Happy Meal, or on Facebook—and it will all be readable on one e-reader. Perhaps the Facebook e-reader. And it will give users the ability to read and share in one location.
While Facebook getting into ebooks would not decimate Amazon’s bottom line—as most of the retailer’s revenue comes from various others sources—it would be an emotional kick in the groin. Bezos built his business on the foundation of books. And Zuck could usher in a changing of the guard.
Link to the rest at Digital Book World
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