Is Digital Printing the Key to a More Nimble Industry?

How quickly do you see the shift from traditional to digital printing occurring?
Today, and this is on a worldwide basis, we believe something like 5% of the total printed pages are printed digitally. If you look at the number of titles, that could be as much as a third already. The U.S. is a little more aggressive than Europe, and the reason we're more advanced is partially because of how our distribution is structured. Amazon has basically completely upended how books get to market, and as a result, the ability to order these very short runs has brought all these new authors into the business. And they are a huge purveyor of digitally printed books.