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December 23, 2014

eBooks: The Latest to Show Change in the Digital Economy

In a press release given by the Book Industry Study Group (BISG) it appears that eBooks are reaching record sales levels and bringing in more revenue than their physical companions. In a report representing last year’s sales figures, online sales made up 35.4 percent of total publisher revenue from general fiction and non-fiction titles. Worth noting however, is that despite a rise in popularity, eBooks online sales actually held steady from the previous year’s amount of revenue from 2012.

This comes after news that last year wasg the first profiting year for the music industry in more than 10 years. It’s indicative of a trend that two of the largest industries have been longing to see. Not only are people getting on board with the digital direction our lives are now moving in, but companies in the literary and music industries are now smartly adapting to the changing marketplace and figuring out how to shape their bottom lines in unfamiliar territory. Another facet of the book industry that’s showing surprising promise is the popularity of audio books. BISG reports that in the previous year, audiobooks hit a record high not only in revenue but in units sold as well.

But the success of digital literature doesn’t go entirely to eBook downloads alone. With the functionality and variation of eBook through readers continuously improving, e-reading devices are truly bringing back an appeal to reading. The iTunes integrated iBook makes it easy to read from any of your Apple devices, from iPhone all the way up to iMac. But the real victors here are the Nook by Barnes & Noble and Kindle by Amazon. What sets these devices apart is their range in functionality. On one hand you have the bare bones e-reader made for the exclusive purpose of reading books, and on the other hand, touch screen and color devices that give the Nook and Kindle more of a tablet feel. Not to mention their expansive libraries of books, audiobooks and video content available.

One other contributing source to the spike in digital book sales is the support of major library networks. Not only are the libraries providing their own proprietary borrower applications for download, there are also programs such as Overload and Hoopla that specialize in corralling eBook loans and digital media loans respectively. And, like in real life, you can be a member of multiple libraries, but because of the wonder of the Internet, have the ability to effortlessly switch from branch to branch at the swipe of a finger.

With these types of consistent numbers, it is obvious e-reader tools and devices, and the digital adaptation of libraries all over the world bookworms are becoming the new nerd niche. You can spot them on the trains and buses coming to and from work, or listening in the car on the way to run a few errands. Of all the “trends” to see a reboot in recent years, we’re not at all upset by this one.

 


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Article by Anna Gale. Fueled.com is an award winning mobile app design and development house based in New York, Chicago and London. At Fueled, we don't just build apps; with teams of designers, developers and strategists, we create visually stunning products that redefine the technical boundaries of today's mobile development standards. We've built award-winning iPhone, iPad and Android apps used by millions of people for clients ranging from Fortune 100 companies to up and coming startups including Barney's, Coca Cola, UrbanDaddy, JackThreads and MTV. We hold ourselves to the highest standard of usability, stability and design in every project that we touch.

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