Ronald Boire, CEO of Sears Canada, will take the top post at the bookseller in September, and current CEO Michael Huseby will become executive ...
Through September retailers have paid publishers more than $109 million for U.S. e-book content, compared to $52.4 million for all of 2008. With e-books’ strong growth, Forrester predicts overall e-book content revenues will top $500 million next year.
For the first three quarters of this year, the amount that retailers have paid publishers for U.S. e-book content topped $109 million compared to $52.4 million for all of 2008, according to a new Forrester report, “The Battle for the E-book Consumer.” The report suggests that considering the growth rate of e-book trade sales, 176% this year, overall e-book revenues will top $500 million by next year.
“When MP3 players came out, most consumers owned CDs that they could easily burn to a computer and download to a device,” says the report. “Not so with books. While catalyzed by single-function e-readers like the [Amazon.com Inc.’s] Kindle, e-book content sales will occur across multiple devices, including desktops, laptops, netbooks and smartphones.”
Indeed, a mail survey of 4,711 consumers found that shoppers aren’t only interested in reading books on an e-book reader. 19% say they would read e-books on a desktop, 11% on a notebook computer and 5% on a smartphone. Content sales on all those devices will complement sales on e-book readers, the report says, even though there is overlap between consumers who are interested in reading on multiple devices.
The survey also found that among consumers interested in reading e-books on any device, more shop at retailers like Wal-Mart and Target than at Amazon or Barnes & Noble, two primary players in the e-book space because of their e-readers, the Kindle and Nook. 61% said they have shopped at Wal-Mart in the past 30 days and 55% at Target, while only 38% have shopped at Amazon and 27% at Barnes & Noble. Given Barnes & Noble’s lower traffic, it will have to “double down” on the Nook to beat Amazon, the report suggests.