It seems that just about every media type industry is being affected to varying degrees by our increased move to a digital world powered by the Web, and it would seem that book publishers are feeling the pinch as well this year.
According to the most recent Association of American Publishers net sales revenue report the adult mass paperback market declined by a massive 38% which works out to about $37.2 million as of October. Hard cover sales dropped by a slightly lower amount of 17%, which amounts to $213.3 million.
The most telling of the switch though had to be the numbers for e-book sales which increased by 81%, which equaled out to about $72.8 million.
From the release:
For the second month of the Fall sales season but ahead of the traditional holiday purchasing window, several categories showed declines while others, particularly those which have seen continuing growth over the past year, have maintained momentum … Details for the above follow. The October report represents data provided by 80 publishers and is produced by the Association of American Publishers.