The cause behind the sharp fall in publishers is undoubtedly the impact of eReaders and discounted booksellers like Amazon Marketplace and supermarkets. Consumers now have easy access to ebooks and discounted second-hand books, generally offered at a fraction of the price compared to traditional booksellers. Partner of Wilkins Kennedy, Anthony Cork, commented ‘The rise of Amazon and other ‘discount’ sellers with massive buying power means the pressure on publishers’ margins is now immense’.
Ebook sales reached £216 million in 2012, an increase of 134%. While printed book sales stood at £2.9 billion in the same period, sales actually fell by 1%. Ebooks are caching up rapidly and there is no sign of this changing anytime soon.
It‘s no surprise that the publishing industry is dramatically changing. There will always be ongoing need to restructure businesses to incorporate online media and ensure there is a digital presence.
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