Back in 2016, Jason Thompson opined on Gizmodo that "Manga publishing is dying." Unable to adapt to New Media, "most Japanese publishers have no coherent digital strategy and the extra step of licensing [manga] in America makes them even slower to react to change."

Yeah, I know, hindsight is 20/20, but that bit of prognostication aged rather badly. In less than a decade, Japan's manga market practically turned itself upside down and is currently the most profitable it has been in thirty years.
The shift has been reflected in the content itself, from the traditional pen and ink approach depicted in Bakuman (2013) to digital drawing tablets in Sleeper Hit (2016) and Eromanga Sensei (2017). By 2022, the digital manga market in Japan was twice the size of the print market.

I once bought Japanese manga from Honto. To take advantage of Honto's more affordable shipping rates (compared to Amazon-Japan), the entire process took about a month. Now Honto no longer stocks and ships paper books and I can get Japanese manga from BookWalker instantly.

Customer convenience is only half of the equation. Industry observer Haruyuki Nakano notes that

For some years now, publishers have been switching emphasis from traditional publishing to the rights and IP business. Shueisha had income of ¥51.1 billion for nondigital publishing in the period from June 2023 to May 2024, compared with ¥72.0 billion for digital publishing and ¥75.3 billion for business including publishing rights and sale of goods.

Hence Sony's interest in acquiring Kadokawa. Having Kadokawa under the same corporate umbrella would let Sony tap into the licensing income streams while eliminating the need to shop for content on behalf of its studios and streaming services. Because Sony would already own the IP.

Successful businesses adapt to new technology and the evolving marketplace. Traditional publishers like Kadokawa and the much bigger Hitotsubashi Group remain powerhouses in the industry. Japan's keiretsu can't turn on a dime. But once they get their bearings, it's full steam ahead.

Publishing is publishing, regardless of how the content gets distributed.

To paraphrase Seth Godin, they figured out they were in the storytelling and information business, not the newsprint business. Compared to magazines, higher quality tankoubon (print digest) sales have remained fairly robust.

Physical media is seeing a decline in video as well. Panasonic and Sony haven't updated their Blu-ray player lines since 2018. Samsung stopped making new players in 2019. LG stopped manufacturing Blu-ray players altogether. When the current inventory runs out, LG will not restock.

But just as vinyl LPs are still being pressed, there will be an ongoing demand for DVDs and Blu-Ray discs. And I am also sure that print books will outlast them all.

Labels: anime, bookwalker, business, crunchyroll, ebooks, japanese tv, manga, publishing, viki