Major publishing companies such as Penguin, Hachette and Simon and Schuster are starting to see 24% of their revenue stem from eBook sales. Certainly many tech savvy users are embracing the format, but not everyone. Nearly 70% of consumers say it is unlikely that they will give up on printed books by 2016, citing an emotional and visceral attachment to tangible texts.
You would be hard pressed to go a week without reading a news headline about how eBooks are dominating the world and the printed book is dead. Despite their perceived popularity, 60% of eBooks downloaded are never read in the US. Since 2012, the growth of eBooks has slowed significantly as dedicated e-Reader sales are declining, and tablet PC devices are increasingly becoming utilized for other forms of entertainment.
“More than 500 years after the invention of the printing press, book manufacturers and publishers are playing a pivotal role in the next renaissance in books that is happening now,” said George Promis, vice president of continuous forms production solutions & technology alliances, Ricoh. “To borrow a phrase from Mark Twain, reports of the printed book’s death are greatly exaggerated. Print is alive, well and sought after in today’s book market. At Ricoh, we’re focused on ensuring this stays true for years to come.”