The Future of the Publishing Industry: Print, Digital or Both?
According to the Association of American Publishers, last year, for the first time, e-books garnered more revenue than any other format of adult fiction. Overall, net sales revenue for electronic books more than doubled in 2011 compared to 2010, and there’s every reason to believe that transition will continue here in 2012 and beyond.
Meanwhile, the industry has felt the effects of the bankruptcy and closures of Borders stores nationwide, another signal of a rapidly changing industry.
As more people download novels to their Kindles and Nooks, what’s to become of the publishing industry? Could we see a day when actual physical books are no longer printed? Is what’s happening with the newspaper and magazine industries a harbinger of things to come for books?