As we’ve covered extensively, e-books are the single saving grace of the struggling publishing industry. Besides spurring early paperback growth and allowing students to rent textbooks on their smartphones, e-books were responsible for 6.4% of the 2010 total trade market.
Another interesting trend is the money spent on books associated with higher education: up 18.7% in three years. Experts speculate the recession helped spur that growth as more people went back to school because of a failing job market.
Other growing sectors were juvenile books, up 6.6% in three years, and adult fiction, up 8.8% in three years. Perhaps a little book called Twilight may have helped with that…
But most importantly, many of these books were bought on the Nook or Kindle: E-book sales increased 5.8% in two years and are expected to rise even higher, since 2011 was a big selling year for the digital format (Amazon even sold more e-books than print versions earlier this year). So it seems that thanks to e-books, more people are reading now than they were years ago.
How many of you still buy books in stores? Do you find that you end up reading more on your smartphone or tablet?