Ebook Shift Accelerating
Late last year, I predicted we would absolutely see ebook sales hit 25% of the book market in 2011, and possibly even break the 50% barrier this year as well, but absolutely do it in 2012 at the latest. That was a bit ahead of a lot of industry analysts, at the time.
But those predictions are looking pretty on target right now.
Last week, Fortune magazine ran an article talking to a Barnes & Nobles exec, who said that in the next twenty four months is when the industry will shift - meaning more than half of all book sales would be digital. That's a big deal, because B&N has a lot invested in the print industry, so it's advantageous to them to make conservative estimates.
Today, Nathan Bransford (agent, writer, and well known blogger) estimated that ebooks already represent about 20-30% of the market. Bob Mayer is predicting 50%+ ebook market share by the end of this year. Dominique Raccah said last month that she expects ebooks to reach or approach the 50% mark this year for "certain types of books". We've also seem publishers announcing as much as 25% of their sales in certain areas have been ebooks in January and February.
Right now? I think we're on line to see fiction ebooks break the 50% mark this year. I see non-fiction still lagging behind, and I think that will take longer to catch up. People still like having paper for their reference material, and not all non-fiction books work well on 7" eInk readers. But we'll continue to see growth there, as well.
I think the question is really not will fiction hit 50% this year - but what happens next? What happens when indies can hit the majority of their market with the click of a few buttons? What happens when bookstores cease to be the primary place people buy books?
That future is almost here.