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ePublish a Book » The ePublishing market » Growth in eBook revenue to reach $9.7 billion by 2016!

Growth in eBook revenue to reach $9.7 billion by 2016!

 Good News for Self-Published Writers and for writers in general!

The growth of the eBook market has not even begun to slow down, which means that the pool of potential buyers for self-published books is growing faster than ever. Of course, so is the number of available eBooks, but it is still time to catch the wave and get a book out there.

Let’s have a look at the numbers.

Until 2006, eBooks were an item reserved to a select few technologically savvy readers. The rise of eBooks slowly began in 2006 to reach a global annual revenue of $3.2 billion this year. Yet, according to a new research by Juniper Research, annual revenues from eBooks delivered to portable devices will grow to $9.7 billion by 2016. They attribute this robust growth to the increasing penetration of eReaders and tablet devices in households.

According to Juniper Research report, the increased and increasing demand for tablets will generate nearly 30% of all eBook downloads by 2016, even more so as eBook access on these devices has already been boosted by the launch of leading brand bookstore applications, such as Apple’s iBookStore and Amazon’s Kindle. AS per that report and today’s data, smartphones are not likely to become an eReader of choice, except maybe in Japan where mangas are highly popular and well suited to smartphones. Smartphones are, however, on their way to become the “plan b” eReader as storefront operators are seeking to enable synchronized eBook content across multiple devices to enable users to continue reading their book on their smartphone when their eReader/tablet is unavailable.

So, the market for eBooks is undoubtedly growing, and growing fast. For self-published writers, this is good news. The success of well known self-published authors such as Joe Konrath, Amanda Hocking or John Locke was due in part to the fact that they caught the eBook wave at the beginning of its rise and were partly carried up by the wave.

Now the second wave is on the horizon, due to the growth in eReaders devices. So it is the perfect time for self-published writers to dive in the book market pool and catch the wave before it peaks.

Publishers have also caught on with the unavoidability of eBooks and rumors that no one will ever read a book on a screen, popular back a few years ago, are now being laughed at. So, this time, publishers are diving as well, and they have equipment and stock that self-published writers sorely lack, so this time, the competition will be more aggressive.

Still, a market that is due to triple its size within 4 years is definitely good news for aspiring writers. It also reduces the need to invest in printing a self-published book to reach readers, hence reducing the production effort from the author’s side, and gives the ability to concentrate all distribution efforts to the online market.

 So, altogether, good news, time to write and publish 🙂

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One Response to "Growth in eBook revenue to reach $9.7 billion by 2016!"

  1. Anton Gully says:

    More questions than answers, for me.

    How is “ebook revenue” defined? Is it purely the amount of money spent purchasing ebooks, or does it include money spent by authors on the services required to bring an ebook to publication?

    Assuming it’s the money spent on ebook purchases, if the market triples in five years but the number of authors fighting for a share of it increases ten-fold then there’s less money going to individual authors.

    As more money is spent on ebooks, is this directly coming from the print market? Indeed, do we know that ebook sales will rise sufficiently to cover reduced print sales? The entire reading market could be contracting.

    The people currently buying ebooks are less price sensitive than the norm – a fact evidenced by their willingness to buy ebook readers and tablets ahead of the general population. Many Kindle editions cost more that the paper equivalent – price conscious readers will resist buying ebooks until that is addressed.

    It is almost inevitable that ebooks will find a lower standard price point, because they are competing against free pirate editions. People do not perceive value in an electronic product that is tied to an account and can’t be lent or sold second hand.

    Assuming there isn’t going to be an unexpected increase in reading, these lower prices, probably around three bucks, are going to lead to a contraction in the amount of money coming into the industry. A lot of it will be at the expense of printing and distribution, but not exclusively.

    I’d guess every billion dollars that ebooks grow, will be at a cost of three billion dollars to the traditional industry.

    That kind of contraction in the industry could lead to the death of publishing as a traditional, key mainstream industry, relegating it to hobbyist status. Traditional writers will turn more and more to television and screenplays, game scripts even.

    Paulo Coelho’s next great piece of fiction could be a series of World of Warcraft quests.

    My point being, you can’t examine a single statistic or projection in isolation.

    Most media treats statistical analysis very poorly, so you’re in good company.

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