Sophie McNeill from Penguin Random House summarized the five key trends in the book market in 2015, which reveal that:
- Print remains the most popular reading format with 63 percent of Americans reporting that they read a print book in the past year compared to 27 percent who reported they read an ebook in the past twelve months (data from the Pew Research Center).
- Young adults are more likely than their elderly to have read a book in the past twelve months – McNeill points out that the range of successful movies based on young adult books may explain the age gap (which came as a surprise to me). Also, women are more likely to read books than men (the average woman reader reads fourteen books per year compared to nine books read by the average man reader).
- In the first half of 2015 the trade book market when it comes to adult fiction, children’s and young adult literature, and religious presses was down 1.4% compared to the first half of 2014: $3 billion compared to $3.13. This statistic is from the American Association of Publishers, which only looks at traditional publishers, and does not include self-publishing. Children’s and young adult literature recorded the sharpest decline (12.3%).
- According to the American Booksellers Association independent bookstores are coming back: according to the ABA the number of independent bookstores increased 20 percent from 2009 to 2014 (from 1,651 in 2009 to 2,094 in 2014).
- 50 percent of Americans own a tablet or an ereader for reading digital content. It is expected that more and more Americans will shift from tablets to smartphones in the coming years. Read more about these findings here.
Mark Coker from Smashwords released his predictions for 2016, and these include:
- Independent (in other words self-published) ebook authors will continue to gain market share at the expense of large publishers because indie titles are priced lower, and because indie authors move faster, and are creative when it comes to marketing and distributing their titles, among other reasons. According to Coker, “every year readers are spending more hours reading books from indie authors.” Also, according to Coker “more traditionally published authors will continue to experiment with self-publishing.”
- Amazon Kindle Unlimited and KDP Select programs have trained readers to expect free ebook downloads, and this will have long-term ramifications not just for the self-published authors, but according to Coker for traditional publishers and traditionally published authors as well, and of course for the Amazon’s retail competitors.
- According to Coker, the overall market for ebooks will shrink in terms of dollars, but will increase in terms of units.
- Print won’t go away. Print books represent approximately 70 percent of the market today. Coker says that “for many readers, print is the gateway to digital.” He also writes about the importance of brick-and-mortar bookstores, and about Amazon’s plans to open a brick-and-mortar bookstore in Seattle.
- Preorder usage will dramatically increase in 2016, according to Coker. Read full article here.
As mentioned in Coker’s article, Amazon did indeed open its first brick-and-mortar bookstore in Seattle back in November. The store, called Amazon Books, is located in University Village. Read article here. Amazon Books plans to use its huge database to stock its shelves; it will look at reviews from millions of readers, but also at staff-favorites, among other sources. Thomas De Monchaux wrote about Amazon Books for the New Yorker.
Amazon is not only the world’s largest bookseller, it’s also an important publisher. Launched in 2009, Amazon Publishing owns 14 imprints, and publishes both fiction and non-fiction books. Through AmazonCrossing, launched in 2010, the company publishes translated books. AmazonCrossing committed $10 million over the next five years to works in translation. Read more about Amazon Publishing here. Read more about AmazonCrossing in this article published by Alex Shephard in the New Republic.
Happy New Year, and Happy Publishing!