While the improvement in the economy helped all publishers in 2010, companies where profits improved all pointed to two main contributing factors—cost controls and skyrocketing e-book sales.
Ebook sales for major houses:
- Random up 250% - 10% of sales in the U.S.
- Penguin up 182% - 6% of Penguin's worldwide
- Simon & Schuster's up 122% - 8% of revenue,
- Hachette Book Group - 10% of HBG's sales last year.
According to HC's chief exec at the London Book Fair, heavy book buyers are avoiding bookshops. Not much surprise there then, given the current state of Borders among others. What staggered me was that he stated that there were 40 million ebook readers in the US alone and that fig is up from 15 million just one year ago!
Thanks rdlecoeur for posting a link - I always like finding additional sources for data.
I'm beginning to think that even people like J.A. Konrath has underestimated the growth of ebooks. It would not surprise me if the majority of books sold next year (2012) were ebooks. I think ebooks are a juggernaut.
Check out my latest post - the February AAP numbers are out and ebook surpassed ALL book formats for the first time.
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