Submitted: The Two Sides Team October 24, 2014
Yes, they do… as illustrated in an infographic on the e-book industry
This article by Niall McCarthy originally appeared on the Forbes website on October 22, 2014.
Today, 23 percent of all male adults and 33 percent of all female adults in the United States read e-books. In fact, the global e-book industry is worth a whopping $8.5 billion.
This still pales in comparison to global print’s $53.9 billion so it’s little surprise readers still prefer holding those dusty old paperbacks. 46 percent of U.S. Internet users said they only read printed books while 15 percent read more e-books than printed books. A mere 6 percent of Internet users said they exclusively read their books in electronic format.
What does all that mean for the industry? Are e-books going to be the final nails in the coffin of conventional brick and mortar bookstores in the near future? Far from it. The pace of the digital revolution has slackened with e-book sales growth falling to just 5 percent in the U.S. 2013. Revenue has also stagnated at just over $3 billion.