Published in FINS from The Wall Street Journal

Last month 80 executives from book publishers including Simon & Schuster, Random House and W.W. Norton & Company, gathered at a Manhattan hotel to strategize how to transform their stagnating print empires into thriving businesses by 2020.

Their radical solution: Invest in digital.

"Two years ago if we had this conference, these issues wouldn't have even surfaced, but now they're front and center," said Scott Lubeck, 59, executive director of the Book Industry Study Group, a trade organization that organized the conference.

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