Joe Wikert, director of strategy and business development at Olive Software, recently attended the Frankfurt Book Fair where Nielsen’s Jonathan Stolper shared some interesting results on the US Book Publishing industry.
The Big Five and self-publishing dominate the market place. Self-published books now own 18% of the market, while the Big Five has grown to 37%.
Print books still outsell e-books. The average market share of print books is still a whopping 76%. There is no doubt that ‘print’ is not going anywhere.
People will only buy e-books if the price is significantly lower than the print version. Price consideration is key in the choice between e-books and print versions of a book. If the price is in the same range, customers tend to gravitate towards the print version.
Most readers buy both e-books and print versions. A survey revealed that 49% bought both formats, 42% bought only print books compared to a mere 9% of consumers that only bought e-books.
Subscription options are dominated by Amazon. Although only 5% of surveyed customers have signed up for a subscription program, Amazon’s market went from 40% in January 2015 to 60% in April 2015.
- Wikert discusses this in more detail on his site.