The Association of American Publishers (AAP), in conjunction with the International Digital Publishing Forum (IDPF), released eBook sales statistics for December 2009. Trade eBook sales were $19,100,000 for December, a 119.7% increase over December 2008 ($8,700,000). Calendar Year to Date sales are up + 176.2%.
Even more impressive is that:
- Q4 of 2009 totaled $55,900,000 and eclipses entire 2008 total of $53,500,000 reported last year.
- 2009 Trade eBook sales were more than triple 2008
- December 2009 wholesale trade sales were $19,100,000 which is highest single month thus far. October 2009 wholesale trade was previous high at $18,500,000
A quarterly graph of sales shows the eBook market is starting to accelerate, or “hockey stick” as some venture capitalists like to say. Over the past two years, it is clearly to growing with greater revenues each quarter. When shown in aggregate year over year (below) the hockey stick growth curve is apparent:
Trade eBook Sales 2002-2009
An analysis of the Compound Annual Growth Rate (CAGR) for each 5 year period from 2002 – 2009 shows that the CAGR is accelerating as well:
2002-2006: 28%
2003-2007: 34%
2004-2008: 41%
2005-2009: 73%
This is very common for early markets, but it clearly indicates a real beginning of the growth of the eBook market.
An interesting correlation, which I currently don’t have the data for, would be to compare this with the sales of eBook readers and devices, like the Kindle and Nook. Clearly the interest in these devices, the increasing competition, the availability of more titles at attractive prices, and fundamentally, the increasing comfort and willingness of consumers to read and consume information (and now books) on electronic devices, are the driving forces behind this growth.
For publishers of all sizes, this means that now is the time to invest in tools and systems that allow them to generate eBooks for any device and any format, while also allowing them to also publish to their traditional print formats as well. Modular, hosted and installed systems like North Plains’ digital asset management for publishing can provide that needed flexibility and power.
The eBook train is approaching, we can hear the whistle blowing… here it comes!!! Are you ready?
The ebook train is already in the station.
The irony is that the train has yet to register on the official timetables. The maintstream media have yet to recognise ebooks by honouring them with reviews or commentary.