The decline in textbook market sales for stockphotography company has been well documented. In particular by Jim Pickerell.The rise of new applications, in particular the iPad has also been difficult, if not impossible to ignore. Finally, the need to come up with appropriate licensing models for these new applications has been the elephant in the room for many months, without resolution.
Coursesmart has now brought this to a head by releasing textbooks for the iPad. The company already sold the textbooks for iPhone and laptops and on the iPhone they’ll find a new audience and a better interface. The new app will be free but you’ll have to pay for the textbooks.
For companies that don’t have a clear licensing model for digital applications yet this may be a good point to start considering it. With 90% of US textbooks available on the app, ensuring appropriate value is placed on the images while minimizing the hassle of licensing them will help to make this an opportunity rather than a threat.