Do you use the printed version of the Yellow Pages? You know, that bulky book that is delivered to you on a yearly basis, along with its brother, the White Pages?
Nope … thought so.
So why would you utilize the printed version of the Encyclopaedia? Nowadays, whether it’s on your phone, your desktop or your tablet, the first source of information users look towards is the Internet.
Encyclopaedia Britannica Inc. announced last week it will stop publishing its 244-year-old printed editions of its encyclopedia.
It’s about time!
The President of Encyclopaedia Britannica Inc., Jorge Cauz said its main focus is on their online version. Many in the industry believe this is what the company should have begun more than 12 years ago. The printed version’s life cycle has declined over the last few years and the company hasn’t been able to recover. According to CBS News “the sales of printed encyclopedias have been negligible for several years,” Cauz said. “We knew this was going to come.”
If you own an older version, it might be worth thousands, seeing that the final version is priced at $1,395. Ouch! When online knowledge resources are free, the sticker shock certainly plays a role in the demise of the printed version of the Brittanica.
Lesson to Learn: Have a strategic plan and find ways to match your competitors. If you wait too long, you’ll become obsolete to users like Encyclopaedia Britannica Inc.