The Internet represents enormous potential for book publishers. Bookface delivers a security solution that allows publishers to maintain control of our books, while enabling us to pursue important opportunities for us and for our authors, said Phyllis Grann, CEO of Penguin Putnam. We are intrigued by Bookface as a new merchandising and distribution vehicle for books, said Steve Cohen, senior vice president at St. Martin s Press. We are exploring Bookface as a way to promote our books online, with the expectation of gaining added revenue for both the publishing house and our authors. The Internet electronic publishing platform allows Bookface to introduce a potentially lucrative advertising revenue stream into the book industry.
Books are currently the only form of popular media without a major advertising component.
The Internet is interactive and immediate providing a great advertising platform while books provide very sticky, high-quality content, which is attractive for readers. Advertising revenue is an innovative way to pay publishers and authors for helping readers find books. The traditional way is for the publisher to pay a bookstore to place a book in front of a reader, said Robert Baensch, director of the NYU Center for Publishing and a Bookface Advisory Board member. The combination of Internet technology and a truly innovative business model makes Bookface an extremely exciting company with the ability to deliver on their vision. Bookface is one of the most impressive Internet start-ups I have seen, said Laurence J. Kirshbaum, chairman and CEO of Time Warner Trade Publishing.