The transformations that have taken place in the publishing industry over the past decade, let alone the past year or two, and the impact those changes are
having on publishing companies worldwide are nearly impossible to summarize. A comment reported in Book Business magazine five years ago from Will Pesce—then-President and CEO of John Wiley & Sons—demonstrates the effects of what many analysts have called “the perfect storm” plaguing the industry: “Over the past five years, we have introduced more new business models than we had in the previous 193 years, in part because we are no longer limited by the physicality of books or journals.”