Over the last few years we have seen eBooks and eBook Readers rise as one of the fastest growing segments of the book publishing industry. Let’s examine this infographic by RetailMeNot comparing eBooks, eBook readers and print books to get a better understanding of why that is.
Each year the publishing industry in the United States produces over 2 billion books, 350 million magazines and 24 billion newspapers. These numbers come as no surprise when you consider that Americans purchase almost 5 million books per day. That works out to almost 57 books purchased per second.
Considering Americans’ appetite for books, how has the introduction of eBooks and eBook readers impacted the publishing industry?
eBook and Print Book Sales
Over the last few years eBook sales have continued to grow, while print books have seen a gradual decline. Despite the negative growth, print still make up a large portion of sales.
In 2008, eBook sales only made up 1.7% of book sales, for a total of about $61.4 million, while print took in $5.158 billion in sales. By 2010, eBooks accounted for 8.32% of sales and brought in $441.3 million. The sale of print books declined to $4.864 billion in sales.
With the rapid growth of eBooks sales it is no surprise that, according to Forester Research, eBook sales will reach $3 billion by 2015.
Adoption of eBook Readers
The adoption of eBook readers has been on the rise in recent years. In fact, according to the Association of American Publishers, the number of adults with an eReader doubled from November 2010 to May 2011 from an estimated 14 million to 28 million people.
Most Popular eReaders
Despite growing the number of different eBook readers, four lead the market. Kindle is the most popular, with 46% of the marketing, iPad is second with 32%, Sony Reader is third with five percent and Barnes and Noble’s Nook is fourth with four percent of the market. It is important to note that the infographic was published before the release of the Kindle Fire, and does not represent the exact state of eReaders in 2012.
eBook Readers on Reading Habits
When a person starts using an eBook reader, their purchasing and reading habits are likely to change. Based on the data in the infographic, 15% of those who own an eReader stopped purchasing print books. They are also 53% more likely to read more now than they have in the previous six months.
The impact of eBooks and eReaders on print is demonstrated by the sales data presented from Amazon, which shows that for every 100 print books sold, Amazon sells 143 Kindle eBooks.
eBook Readers and Book Publishing Industry
It is important for the book publishing industry to adjust to the shift in how people buy and read books. Despite the difficulties that come with change and new technology, eBooks and eBook readers might hold a silver lining for publishers who are able to make the transition to the digital world.
BookBuzz – The Economics of eBook Readers
Infographic courtesy of RetailMeNot.