Another day another story of an old style of business facing obsolescence due to shifting market conditions.

The narrative for stories like this one is usually “businesses stuck in their ways refuse to adapt and die out”, painting the business as fools who die due to their incompetence and conservative mindset. I’m curious, though; is there any reason why Japan’s manga publishers might want to retain their focus on print media rather than move to a digital focus?

Going digital seems like the clear optimal move here, they might even consider encouraging artists to create their own webtoons and make Japan competitive in that space. Why might they not want to do so?