Great news for authors: People are still reading! On average, adults read 17 books last year. According to the Association of American Publishers, publishing revenues have increased in the U.S. since 2008, by as much as 6% each year.
It was once feared that people would stop buying books and the industry was on its way towards obsolescence. Not so! People have simply changed the format through which they absorb literature. The desire to read is still strong!
About a year ago, Amazon announced that the third-generation Kindle outsold J.K. Rowling’s “Harry Potter and the Deathly Gallows,” formerly the bestselling product in the history of Amazon. Naturally, Amazon’s next major announcement was that Kindle copies of books are outselling paperbacks. For every 100 paperbacks, 115 Kindle copies have sold. Fourth quarter sales last year topped $10 billion for the first time. This statistic is even more impressive when taking into account that Kindle copies generally sell for less than $9.99, usually about half of what paperbacks cost.
While Kindle use accounts for 73% of the digital reading taking place, there was also a marked increase of tablet sales over this past holiday season. Readers seem to be enjoying the convenience of having a whole computer at their fingertips while reading. The tablet market will be expanding further as more companies develop their own versions of the product.
What this means for writers is pretty clear. The digital market is not going away. More likely, e-books will continue to eclipse paperback sales. We may very well be entering The Age of Digital Sales.
Are you ready to make your debut on the digital market? Send your writing submission to Absolute Love Publishing.