Some time ago I heard a rumor than vinyl records were going to be replaced with something called a CD. I found this idea ridiculous. Everyone owned vinyl records, everyone had record players, if manufacturers suddenly switched to something new people would take to the streets, mass riots, revolt, chaos, it would not be allowed to happen. Well, the change happened, without riots, without revolt, and it happened in a very short period of time.
A few years later, as I built up my collection of VHS tapes, I heard a new rumor. VHS tapes were going to be replaced with something known as a DVD. As bizarre as this sounded, I quickly realized this change would also take place, and it did. Again, the change seemed to take place overnight. It did not happen that quickly of course, but it certainly happened much faster than I would have ever thought possible. Now, I hear new rumors, rumors that say print books are going to be replaced by eBooks. Rather than questioning if this can really happen, I find myself asking, when will this happen.
From a business sense it certainly seems the way to go. You no longer print a certain quantity of books, hoping they sell. When they don't sell, you are left with obsolete inventory. If you print too few, you miss sales. With eBooks you never miss a sale, and you never have excess inventory. You also save on shipping, distribution, and storage of print books. Books distributed electronically also do not require paper, so we save trees. A single reader with 4G memory can store up to 3,500 books. You would need one heck of a back pack to carry around that number of print books. Convenient, cost effective, and good for the environment. The trend is clear, but when will the eBook overtake its printed counterpart?
The rapid climb of eBooks can be seen in recent numbers released by the AAP. In June of 2011 most all print categories, hardcover, paperback and mass paperback sales were down 20% or more from the previous year. In the same month eBooks sales were up a staggering 167% from a year ago. Sales in June 2010 were $30 million, in June of 2011 this climbed to $80 million. This was not a single month rise as the year to date sales for eBooks is up from $181.3 million to $473.8 million according to the AAP.
CNN Money also recently reported that eBooks sales topped all other formats including both hardcover and paperback books in monthly sales for the first time in history. Sites such as Amazon.com and Barnes and Noble do not report the number of reading devices being sold, but each site has a very strong presence in the eBook market.
In April 2011 Marc Parrish, an executive with Barnes and Noble said traditional book retailers have as little as two years to adapt to an eBook centric industry. With the shift to electronic books an entirely new industry has sprung up on the Internet. Sites such as Smashwords.com allow authors to self publish their books and distribute them to major retailers such as Barnes and Noble and Amazon.com. Other sites, such as Steel Diamonds Publishing strive to help eBook authors learn the new market and help them reach a larger audience.
Most best sellers are now available as eBooks as well as classics, many of which can be downloaded for free. With millions of eBooks to choose from and hundreds more being added daily, customers will not be left wanting for new reading materials. Like Vinyl records and VHS tapes, the printed book is in danger of becoming obsolete. Does this mean the end of brick and mortar bookstores? Not in the immediate future, but times are hard for print retailers, which was clearly shown by the recent failure and closing of Borders. You will still be able to find a print edition of your favorite book for some time, but the trend is definitely going to a paperless book society.
Sources;
Media Bristo - www.mediabistro.com/ebooknewser/ebook-sales-up-167-in-june_
CNNMoney - money.cnn.com/2011/04/15/technology/ebooks_beat_paperbacks/index.htm
Join the Conversation