Our love affair with e-books is on the decline as sales have dramatically fallen 9.3% from January to July 2015. April was the worst month this year with e-book sales decreasing 51.6% year on year.
The Association of American Publishers releases data every single month from 1,200 publishers. According to this organization e-book sales have been on the decline all year long.
Why are e-book sales falling? The big 5 publishers, which includes Penguin/Random House, Macmillan, Simon and Schuster, Harper Collins and Hachette have implemented a new pricing mechanism that has seen the price of e-books increase from $9.99 to around $14.99. I have found that often it is now cheaper to buy the paperback version or wait a few weeks after a big book release and watch the hardcover get my favorite sticker in the world – 40% off.
It is no surprise that publishing companies are seeing diminished revenue. If books cost a lot more, fewer people will buy them.
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about audiobooks and e-readers for the past ten years. His articles have been picked up by major and local news sources and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times.