A Whip to Beat Us With

The millions of dollars that Amazon customers spend on Macmillan???s DRM-locked e-books represent millions of dollars of e-books Macmillan customers lose if they wanted to follow Macmillan away from Amazon. Publishers believe DRM protects their books. But DRM has created a world where publishers who walk away from negotiations with a DRM vendor like Amazon leave their customers behind.

DRM, live by it. Die by it.

Amazon E-Library Is Publishing???s Profit Model: Virginia Postrel

Beyond short-term earnings, however, the lending library is just the latest innovation to raise big questions about the whole publishing ecosystem. In an environment where books are increasingly digital, what’s the most effective way to create value for readers, for authors and for intermediaries? And — the biggest question — which intermediaries will survive the transition?