Here’s a telling sign of growing e-reader market: Since April 1st, Amazon has sold five e-books for every one paper book.
One reason for the e-book success is the release of Amazon’s newest and cheapest Kindle, which was introduced in April. And though e-books only account for 14% of all books sold, the New York Times reports that the e-book business is slated to keep getting bigger. According to the Times, e-book sales in March hit $69 million, an increase of 146% from 2010. Meanwhile, paperback sales decreased nearly 8%.
We predict that e-book sales will only grow more once more e-readers or tablets are introduced to the market — including Amazon’s android tablet, which is scheduled for release later this year. Amazon’s not the only retailer who will benefit from this trend — large publishers and smaller independent houses alike are digitizing books, especially older titles that can’t easily be found elsewhere.
But not all experts agree that e-books are a good move for the publishing industry, according to the Times:
“They’re taking print sales away from others while their own devices are taking print sales away from them,” said Mike Shatzkin, chief executive of the Idea Logical Company, which advises book publishers on digital change. “That’s the real import of those numbers. It’s one more nail in the coffin of brick and mortar stores.”