Around the time Apple released the iPad to the market I wrote an article on April 14 titled ‘What 3 Industries Is The Apple iPad Threatening To Decimate“. One prediction was that the traditional publishing industry will be impacted in a major way. Let us fast forward three months.
Shortly after the launch of the Apple iPad Amazon cut the price of the Kindle on June 21 from $259 to $189, since then there has been interesting numbers emerge on E-Book sales and the sales of the E-Book reader device from Amazon because it now quite obvious that competition is driving E-Book sales at an accelerating pace.
- Over the past three months, it has sold 143 Kindle books for every 100 hardcover books sold
- Over the past month, Amazon has sold 180 Kindle books for every 100 hardcovers sold (80% more than hardcover books)
- Amazon has sold three times as many Kindle books in the first half of 2010 as in the first half of 2009.
- The growth rate of sales for the Kindle had tripled since the company cut the e-reader’s price from $US259 to $US189 a month ago
Jeff Bezos certainly thinks we have reached a paradigm shift in the publishing market by saying “We’ve reached a tipping point with the new price of Kindle”. He also said that the sales of hardcover books had not declined.
It is certainly not the demise of the publishing industry but companies that are in the space that are heavily reliant upon hardcover sales must be considering (if they haven’t already) overhauling their business model.
The digital revolution is certainly a constant trend of industry ‘disrupt’!
Have you bought a Kindle or iPad or thinking of it?
Image by Charis Tsevis