Monday, November 22, 2010
E-BOOK BUYERS BUYING MORE
E-book consumers say they are buying more books overall, but fewer in print, and are decreasing their total dollars spent, according to new research from the Book Industry Study Group (BISG). The sales shift is just one key finding in the first installment of the 2010−2011 cycle of BISG’s Consumer Attitudes Toward E-Book Reading survey set. Since November 2009, Consumer Attitudes Toward E-Book Reading has been tracking the habits and preferences of print book buyers who say they have acquired an e-book or dedicated e-reading device within the past 18 months.
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At Christian Devotions Ministries book division (www.christiandevotionsbooks.com) we launch the eBook first, followed by the print version. We create a Kindle version for Amazon so we (and the author) can keep the bulk of the profit. Next we make it available via Smashwords for the other formats. We view the Kindle format (not the hardware itself) as the default reader. Because Amazon is the world's largest book seller, we believe the Kindle format will become the reader of choice, regardless of whether you read on an iPad or smart phone.
Brick and mortar stores, like B&N and Borders, are a dying business model. You already see shoppers browsing the shelves in B&N, ordering with their smart phone and leaving the store without making a purchase. I suspect one of the two (Borders probably) will fold after Christmas. For good or bad, the heavy cost of retailing (especially in this economy) will crush book sellers.
The price of eBooks will settle to the $2.99 price point. (Amazon's lowest price for their 70/30 split.) Sure, well-known authors will command a higher selling price for thier eBooks, but the other 80% of authors will see thier titles sold in the single digits. More books, not fewer, books will be sold.
I like printed books but the business model for ebooks is just too good to ignore. Low cost of entry, global distribution, and everyone playing equally on the same field (Amazon). This is good news for writers since the content and quality of writing will drive sales, not the name of the publisher on the spine. Marketing is key, but that's the case regardless of who the publisher is.
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