The white paper was commissioned by NISO and OCLC as a follow-up to the Symposium for Publishers and Librarians held by OCLC on March 18-19, 2009 to discuss book metadata. This paper analyzes the current state of metadata creation, exchange, and use throughout the book supply chain. With the number of book formats multiplying and the amount of digital content growing rapidly, the metadata required to support the discovery, sale, and use of content by a global audience is increasing exponentially. At the same time economic pressures on all stakeholders in the supply chain from publishers, wholesalers, booksellers, metadata vendors, and librarians present greater challenges to providing quality and comprehensive metadata at every point in the cycle. Through interviews with over 30 industry representatives, Luther has created a book metadata exchange map illustrating the process and has identified opportunities for eliminating redundancies and making the entire process more efficient.