In today’s show, Tom Corson-Knowles shares data, facts and insights into global ebook and print sales and the future of publishing. If you don’t understand the numbers, it’s hard to make good decisions as a publisher!
Global print book sales are predicted by PWC to decline by over $10 billion by 2018 (that’s a $10 billion decline in a market of only $80 billion!). Those sales will all be replaced by sales of eBooks, which means the industry is stagnant. In fact, after inflation, the publishing industry in the United States is actually declining.
Yet, even in a declining industry, there’s a massive opportunity to earn a huge amount of money, especially for independent and self published authors. Why? Because there’s a huge wealth transfer happening right now, and anytime there’s a wealth transfer it creates opportunities for new entrants to earn a fortune.
That’s why we’ve seen hundreds of success stories of self published authors like Hugh Howey, Amanda Hocking, John Locke and many others. Most of the sales for most self published authors come from eBooks, and it makes a lot of sense.
Physical distribution is almost completely locked up by major publishers. Most print books in the trade market are now sold in big box retailers – CostCo, Walmart, Target, Kmart, etc. The Big Publishers pay millions for prime placement for books, and they’ve pretty much shut out the competition.
But with eBooks, there’s a brand new, totally open playing field. Amazon dominates the US and UK eBook markets (the two biggest eBook markets in the world currently), and anyone can now publish their eBooks on Amazon. No more gatekeepers. No more monopoly. No more big profits for major publishers. And a whole lot of new opportunity for authors who take advantage of self publishing.
This show will give you some key insights into what’s going on right now in the industry, why eBook sales are still growing despite a global economic slowdown, and why print sales are declining globally.
See the slides for this show:
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