Publishing is in crisis. Publishing has always been in crisis, but today's version, fuelled by the digital boom, has some frightening symptoms. Trade publishers see their mid-lists hollowed, academic customers face budgetary pressures from higher education spending cuts, and educational publishers encounter increased competition across their markets. But over the centuries, forced change has been the norm for publishers. Somehow, they continue to adapt. This ground-breaking study, the first of its kind, outlines a theory of publishing that allows publishing houses to focus on their core competencies in difficult times while building a broader notion of what they are capable of. Tracing the history of publishing from the press works of fifteenth-century Germany to twenty-first-century Silicon Valley, via Venice, Beijing, Paris and London, 'The Content Machine' offers a new understanding of media and literature, analysing their many connections to technology and history. In answer to those who insist that publishing has no future in a digital age, this book gives a rejuvenated identity to this ever-changing industry and demonstrates how it can survive and thrive in a period of unprecedented challenges.