Can wireless save print publishers?

In a few weeks I'm going to  be participating in a technology-focused panel for the Magazine Publishers Association's Independent Magazine conference in Boulder. In preparation for the event I've been talking to other panelists and publishers about their views on ereader applications for mobile phones and how they can bring their content to mobile devices.

What amazes me is that I'm starting to hear the same hype and over-zealous statements I used to hear from the entertainment industry when they first started talking about bringing video and TV content to mobile phones. And, frankly, that scares me. Just because there are billions of cell phones worldwide and a growing percentage of smart phone users, that does not mean all consumers want to read long-form content on their cell phones. 

Some undoubtedly will read magazines and books on their mobile phones--if the screen is large enough and the application is intuitive and easy to use. Of course, the most critical factor is going to have to be price. Publishers believe taking their content to the cell phone will help them offset the declines they are experiencing in advertising revenue. 

But one big lesson we learned in mobile entertainment space was that consumers won't necessarily fork over a premium monthly subscription fee to get their content on their cell phone. They might pay the same subscription price they pay at newsstands but don't expect them to pay a premium. I don't believe that business philosophy has ever proven true.

And publishers are going to have to spend some time studying the mobile content ecosystem. Do they build an app and sell it via an App Store like Apple's? Or do they work with the carrier and try to get their content distributed via the operator's deck or distribution system?  Or do they do both? Most independent publishers are going to have to be mindful of their mobile investments so I suspect they are going to have to choose just one route and hope they succeed. I'd be happy to hear your thought on this topic. What have I overlooked? -Sue