A new study by Publishing Technology finds U.S. millennials—defined as people currently between the ages of 18 and 34—almost twice as likely to read a print book as an ebook.
That finding squares with similar print preferences Pew researchers found among older readers as well. Among adults 18 and up, 28% read an ebook in 2014 as compared with the 69% of those who read at least one print book.
Results from the Publishing Technology survey also suggests young readers are equally comfortable with digital and analog modes of book discovery. 45% of millennials report learning about new titles by word-of-mouth recommendations, 32% by online browsing and 25% by browsing through a physical store or library.
It’s nice to say you are a green company, but doing it effectively is another story.
With digital printing we don’t have thousands of books sitting in warehouses waiting to be sold – spent resources that may or may not be purchased and read.
We print books only when an order is received.
The majority of our book sales (85%) are electronic as manufacturers of ereaders have opened their walled gardens allowing their books to be read on any device, any platform, anywhere, anytime.
Think printed books will go away? No way. Did movie theaters close when home theater systems became mainstream?
The Association of American Publishers reported that the annual growth rate for eBook sales fell during 2012, to about 34% – a sharp decline from the triple-digit growth of the preceding four years.
But that doesn’t mean ebooks are going away. A recent Pew Research Center survey showed that adults who have read an e-book increased from 16% to 23% in the past year. It also revealed that 89% of regular book readers said that they had read at least one printed book in the last year.
Ebooks are merely another channel, another technology to promote, sell and enjoy books. It compliments printed books. Printed books won’t go away – there will just be fewer printed.
Fewer printed books is not good for the big six publishers, but it won’t bankrupt them – just lower their sales volume and profit margins.
That’s why they won’t fully embrace ebooks and why they charge artificially high prices for their ebooks close to the full price of their printed books.
They want to revive the same high profit margins they enjoyed with print books for so many decades.
But they will never convince their customers or the general public that ebooks cost as much as print books to edit, process and distribute.
Ebooks are a disruptive technology and like all disruptive technologies is condemned, rejected and deemed catastrophic for society by those who stand to lose.
The market will determine the accepted price of ebooks, not the publishers and there is nothing they can do to stop it. The tsunami has already hit land.