
Not likely -- at least when it comes to volume. Encyclopedia Britannica Inc. is, however, taking a big strategic cue from user-updated online encyclopedia Wikipedia. The storied franchise will call on members -- whose names you will be able to see -- to
update its entries online.
Microsoft Corp.'s (NASDAQ:MSFT) Encarta may have
bowed out to Wiki's dominance, but Britannica believes its credibility will make its online offering one worth paying for.
An in-depth Boston Globe article on Britannica's new strategy quotes president Jorge Cauz saying Wikipedia articles are about trivial topics Britannica has no interest in covering. "They can talk about porno actors and cartoon characters as well as heart attacks," said Cauz. "That is something we will never do."
The article notes that Britannica will still focus on its core market: schools, libraries and homes, where people need authoritative information on important topics. But who knows how many will pay for it? -
Baz HiralalGo to the story
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The comments about Encyclopaedia Britannica and Wikipedia are interesting.
Encyclopaedia Britannica did not think that an open source product like Wikipedia would significantly challenge the credibility of its brand. They were dead wrong and Encyclopaedia Britannica's staff seriously misread the global market. They are now very concerned about the widespread use of a free Wikipedia vs their paid subscription model. From a corporate and financial perspective, Encyclopaedia Britannica is in significant trouble.
It will be interesting to see if Encyclopaedia Britannica survives, but recent indications do not look good. It is the combination of a) the success of Wikipedia and b) improved search engines that has put financial pressure on Encyclopedia Britannica over recent years. Many libraries, schools & individuals are questioning the need to pay for sets of expensive books, or to subscribe to Encyclopaedia Britannica Online, when the content is free on the internet, and much more comprehensive.