Source: NYTimes, Jul 2012
E-books continued their surge in popularity last year, surpassing hardcover books and paperbacks to become the dominant format for adult fiction in 2011, according to a survey of publishers released Wednesday.
For several years, consumers have been rapidly switching from print to digital for reading novels, a sign of the growing strength of the e-book for narrative, straightforward storytelling.
Over all, digital books kept up their explosive growth in 2011, the survey confirmed. Publishers’ net revenue from sales of e-books more than doubled last year, reaching $2.07 billion, up from $869 million in 2010. E-books accounted for 15.5 percent of publishers’ revenues.
But as digital revenue grew, print sales suffered, dropping to $11.1 billion in 2011 from $12.1 billion in 2010.
The survey also revealed that revenue in the overall trade book business was relatively flat. Publishers’ net revenues in 2011 were $13.97 billion, up from $13.9 billion in 2010, an increase of 0.5 percent.
Online retailing, however, increased to $5.04 billion in 2011 from $3.72 billion in 2010.