A while back, I wrote a post about the changing nature of the publishing industry in an increasingly digital media landscape (find it here). While no one can predict the future, I did speculate that we would gradually see a considerable rise in the sale of e-books. Well, it turns out that this shift has been happening a lost faster than I (and probably many people) expected.
Amazon (an industry leader in book sales) recently reported that for the first time last quarter, they sold considerably more e-books than print copies. While this is an incredible statistic, it is even more important to note that they did not achieve this feat due to a fall in paper book sales, as they have continued to experience solid sales in this sector as well, but rather by sustained growth in e-book sales. In the words of Jeff Bezos, founder and CEO of Amazon.com: “The Kindle format has now overtaken the hardcover format (…) astonishing when you consider that we’ve been selling hardcover books for 15 years, and Kindle books for 33 months.”
As mentioned above, it is incredible to think of the speed at witch the shift towards this new medium is happening. Here are a couple other interesting statistics that seem to point towards digital print going mainstream.
- The Amazon Kindle e-reader reached an important milestone a while back, when it became the #1 bestselling product on Amazon (and this certainly hasn’t changed as the sales have continued growing on a month-over month basis).
- The Association of American Publishers recently reported that they have observed a 207% increase in e-book sales since the beginning of this year (when compared to the same period last year)
Paradoxically though, none of these statistics actually point towards an actual demise of print, as Amazon actually experienced some growth in paper book sales as well last quarter. In other words, although one is growing, it doesn’t seem to be shrinking the other. Like I said in my initial post: I don’t think print is going anywhere anytime soon and think we will be experiencing this duality of media for a while.
What’s your take? Do you favor one medium over another? Is this print’s last climb in vain before an epic fall?
