Though various sources have reported a decline in e-book sales for traditional publishers in 2015 compared to 2014, no one has come up with a clear reason for the drop. To gain some insight into the trend, the Codex Group devoted a recent survey of book buyers’s shopping preferences to looking more deeply into the question.
The book market has taken a different path from the music and home video markets, where research from industry associations shows that consumers continued to increase digital spending last year (with digital reaching record revenue share levels of 70% and 59%, respectively, for 2015).
Preliminary figures from the Association of American Publishers found that sales of e-books for trade publishers fell 14% in 2015 compared to 2014 and accounted for 20% of overall trade book revenue, down from 23% in 2014. Going beyond AAP’s member publisher sales performance, the Codex Group’s April 2016 survey of 4,992 book buyers found that e-book units purchased as a share of total books purchased fell from 35.9% in April 2015 to 32.4% in April 2016. The Codex survey includes e-books published by traditional publishers and self-publishers and sold across all channels and in all categories.
In light of the April study results, Codex president Peter Hildick-Smith believes that the book industry’s experience with digital sales differs from that of music and video because of two factors. First, electronic devices are optional for reading books (unlike for listening to music or watching video), and the current range of e-book reading devices—including smartphones, tablets, and dedicated e-readers—has not delivered the quality long-form reading experience needed to supplant print, even with e-books’ major price and convenience advantages. Second, Hildick-Smith said, a new consumer phenomenon, “digital fatigue,” is beginning to emerge.
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SOURCE: Publishers Weekly