From the press release:
Zoo Digital (LON:ZOO), the multimedia software expert, is taking its novel technology into the world of book publishing with an ‘eBook Builder’ that will provide an efficient and cost effective way to repackage traditional books for sale online.
The company revealed today it has already begun working with ‘a number of traditional [book] publishers in the US and Europe to enable high quality adaptation of existing products for sale online”.
The eBook Builder will find application across a wide range of genres including picture books, comics, travel guides, cookery books and reference publications.
Zoo is hoping the technology will enable it to tap into an eBook market that, according to Futuresource Consulting, grew by 200% in 2010 alone, giving it a value of $900m.
The foray into electronic book publishing company extends its presence in the ‘Electronic Sell Through’ (EST) market, which refers to the sale of media content, such as video, over the internet via downloading. It follows on from its announcement last September that a major Hollywood studio had adopted its iTunes production toolset to publish ‘iTunes Extra’ content for a range of catalogue titles, which can be downloaded and stored permanently on a computer hard drive or portable device.
‘iTunes Extra’ content has additional DVD-like functionality, such as menus and chapter selection as well as special features like deleted scenes, exclusive interviews, and behind-the-scenes footage.
Since announcing the availability of its toolset for iTunes production, ZOO has been working with a number of film studios, including Warner Bros., to adapt video content for sale through Apple’s iTunes store and has expanded the range of services it offers to content owners for EST production.
The music industry, where publishers are beginning to promote their products with value-added materials using Apple’s iTunes LP format, presents another interesting target for ZOO. It is keen to leverage further into the format, which lets listeners hear an album and view lyrics, liner notes, band photos, performance videos, and more.
An interactive content editor has been created to enable the creation of EST packages to which iTunes LP support has been added. Initial customers include a number of music publishers in the US, UK and France.
According to Strategy Analytics, digital music revenues in 2012 will reach US$2.8 billion and surpass physical sales for the first time.
Stuart Green, CEO of ZOO commented: “The Electronic Sell Through market is clearly one of the most exciting developments in recent history for all forms of media sales, and we’re delighted to be playing an increasing role. The incredible growth in the electronic books market has been well documented of late and we believe that there are also substantial opportunities within the music industry.”
Zoo Digital shares opened on 48p this morning, valuing the company at £11.45m.