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Publishers are resisting the idea of charging less for e-books. "I'm not going along with it," says Penguin's David Shanks of Amazon's low price for best sellers. (He seemed startled when I told him that the Alan Greenspan book he publishes is for sale at that price, since he offered no special discount.) Amazon is clearly taking a loss on such books. But Bezos says that he can sustain this scheme indefinitely. "We have a lot of experience in low-margin and high-volume sale—you just have to make sure the mix [between discounted and higher-priced items] works." Nonetheless the major publishers (all of whom are on the Kindle bandwagon) should loosen up. If you're about to get on a plane, you may buy the new Eric Clapton biography on a whim for $10—certainly for $5!—but if it costs more than $20, you may wind up scanning the magazine racks. For argument's sake, let's say cutting the price in half will double a book's sales—given that the royalty check would be the same, wouldn't an author prefer twice the number of readers? When I posed the question to best-selling novelist James Patterson, who was given an early look at the Kindle, he said that if the royalty fee were the same, he'd take the readers. (He's also a believer that the Kindle will succeed: "The baby boomers have a love affair with paper," he says. "But the next-gen people, in their 20s and below, do everything on a screen.")
The model other media use to keep prices down, of course, is advertising. Though this doesn't seem to be in Kindle's plans, in some dotcom quarters people are brainstorming advertiser-supported books. "Today it doesn't make sense to put ads in books, because of the unpredictable timing and readership," says Bill McCoy, Adobe's general manager of e-publishing. "That changes with digital distribution."
Another possible change: with connected books, the tether between the author and the book is still active after purchase. Errata can be corrected instantly. Updates, no problem—in fact, instead of buying a book in one discrete transaction, you could subscribe to a book, with the expectation that an author will continually add to it. This would be more suitable for nonfiction than novels, but it's also possible that a novelist might decide to rewrite an ending, or change something in the middle of the story. We could return to the era of Dickens-style serializations. With an always-on book, it's conceivable that an author could not only rework the narrative for future buyers, but he or she could reach inside people's libraries and make the change. (Let's also hope Amazon security is strong, so that we don't find one day that someone has hacked "Harry Potter" or "Madame Bovary.")
Those are fairly tame developments, though, compared with the more profound changes that some are anticipating. In a connected book, the rabbit hole is no longer a one-way transmission from author to reader. For better or for worse, there's company coming.
Talk to people who have thought about the future of books and there's a phrase you hear again and again. Readers will read in public. Writers will write in public. Readers, of course, are already enjoying a more prominent role in the literary community, taking star turns in blogs, online forums and Amazon reviews. This will only increase in the era of connected reading devices. "Book clubs could meet inside of a book," says Bob Stein, a pioneer of digital media who now heads the Institute for the Future of the Book, a foundation-funded organization based in his Brooklyn, N.Y., town house. Eventually, the idea goes, the community becomes part of the process itself.
Stein sees larger implications for authors—some of them sobering for traditionalists. "Here's what I don't know," he says. "What happens to the idea of a writer going off to a quiet place, ingesting information and synthesizing that into 300 pages of content that's uniquely his?" His implication is that that intricate process may go the way of the leather bookmark, as the notion of author as authoritarian figure gives way to a Web 2.0 wisdom-of-the-crowds process. "The idea of authorship will change and become more of a process than a product," says Ben Vershbow, associate director of the institute.
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