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.