Last month, we discussed Wikipedia, and how the online encyclopedia, coupled with encyclopedias on compact discs, cut into the business of printed encyclopedia sets that were found in many American homes and every school library in the country.
Among the body count was the venerable Encyclopedia Britannica, first published in 1768 as a three-volume set. It ended publication in 2012, having grown to an impressive 32 volumes. And perhaps even more impressive: a massive 129 pounds.
It was not, however, the last encyclopedia left standing. More than a decade after EB's demise, there is still one encyclopedia set being published: World Book.
World Book bills itself as "Theonly general reference encyclopedia still published today."It is part of one of the world's largest companies: Berkshire Hathaway, run by one of the world's richest investors, Warren Buffett.
And what was once one of his favorite companies (he once listed it among his most-loved "Sainted Seven" businesses) eventually became his "most difficult problem" less than a decade after he bought it in 1986.
When that buy took place, Buffett told stockholders about it in his annual business letter: "It sells more sets in the U.S. than its four biggest competitors combined," Buffett told shareholders.
That was then. It's still outselling, although there aren't any "biggest competitors" around to outsell.
By 1990, World Book's annual pre-tax earnings had peaked at about $32 million, turned stagnant, and then dropped below $9 million in 1995, Business Insider reported. That low came just two years after Microsoft released its digital encyclopedia Encarta.
And yet World Book continues to update and publish. It has 14,000 pages, 22 volumes, and can be purchased for $999.99 on its website:www.worldbook.com. (There is a $200 sale off the regular price of $1,199.)
Who buys a set of World Book? Benj Edwards for one. He's the AI and machine-learning reporter for Ars Technica, and wrote an article for the online site last year. Of his purchase, he said, in short: "I regret nothing. ... The still-updated World Book Encyclopedia is my antidote to the information apocalypse."
The obvious question is why does World Book still exist? Edwards wrote that Tom Evans, the encyclopedia's editor-in-chief, told him, "Because there is still a demand!" It is a demand, Evans told a reporter, that comes from librarians, teachers and families of students.
Edwards grew up with a World Book 1968 in his household, and said part of the reason for purchasing the new edition was nostalgic, but also as a way to counteract the "very convincing fake information" that pollutes online spaces.
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When the set arrived, Edwards wrote that he "enjoyed feeling the weight of the information in my hands. It felt like stepping back onto dry land after a long boat ride. It's hard to put a name on that emotion."
Edwards wrote that he found that the "World Book's authoritative, neutral tone feels refreshing. For example, the 2023 edition pulls no punches regarding its concise analysis of our previous U.S. president's legacy, but it doesn't go out of the way to attack him, either. Every article I've read so far is accurate and well-written."
Evans, the editor-in-chief, said Berkshire Hathaway is committed to its product: "We will continue to produce the print edition of The World Book Encyclopedia while there is still a demand."
Edwards concluded: "Sometimes it's nice not to always be magically up to date."
Lonnie Brown can be reached at LedgerDatabase@aol.com.
