At any rate, DRM isn’t the answer since a p-book could just be scanned. What’s more, the DRM of Microsoft Reader, the format of the version on sale at Fictionwise, is crackable even by nonhackers, via a program I won’t mention.

Nothing against Fictionwise, BTW—just the opposite. The Pendergrast brothers have been among the leading DRM skeptics of the e-tailer world and, I suspect, would also have a few choice words on the pricing.

Meanwhile hooray to Perseus for releasing the book first in E. I just hope folks there will experiment with a different approach and understand that DRM increases the attractiveness of pirated editions.

David

Addendum, 11:42 a.m.: Actually the price at FW can be $9.75 with the right deal chosen. Is it possible the price could be still lower? Or would the economics not be right? BTW, I should have said “possibly” rather than “probably” as far as the price range at “other stores.” I notice the price without any special deal at BooksOnBoard.com is $15. Meanwhile a few questions. To what extent, in this case, could the pirated version be promoting sales of the hardback? Remember, Random House released an E version of Beautiful Children for free.

As the rapid release of the Soros book demonstrates, it’s a lot easier to get product into the channel when there are no physical goods to be manufactured, transported, inventoried, or shelved. I wonder if the overnight success of Mr. Soros’ book in electronic form would have been any less had Mr. Soros published it himself with the assistance of a capable geek to prepare the edition and a marketeer to negotiate the deals with the distributors.

This is exactly the sort of thing that has begun to happen in the music industry. In recent months the bands Radiohead and Nine Inch Nails both chose to release their latest albums as digital downloads themselves without the assistance of a record label, and then followed up with the release of a CD in the traditional manner a few months later.

An emerging band benefits significantly from the marketing and promotional services provided by a record label, but established bands like Radiohead and Nine Inch Nails don’t require this kind of assistance to the same degree. Mr. Soros’ book would appear to be a similar case.

The sands are shifting in the music industry. CD sales are in decline, online sales are on the rise, and bands are beginning to go it alone. If/when e-books gain more traction in the marketplace, is this the future of book publishing?

Disclaimer: I know practically nothing about the inner workings of the book publishing industry. I invite those who actually know what they’re talking about to rip my assumptions and presumed insights to shreds.