Since starting my Grand Experiment, every piece of publishing-related news I stumble across is touting the success of e-books. Amazon has released its 2010 fourth quarter results, and the big news is that e-book sales have finally overtaken paperback sales (hardcover sales had already been eclipsed a year earlier).
Jeff Bezos, founder and CEO of Amazon.com, said in a statement:
“After selling millions of third-generation Kindles with the new Pearl e-ink display during the quarter, Kindle books have now overtaken paperback books as the most popular format on Amazon.com. Last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the second quarter of this year, so this milestone has come even sooner than we expected – and it’s on top of continued growth in paperback sales.”
E-books outsold paperbacks at a rate of 115 to 100.
The other tidbit of interest was this:
“The U.S. Kindle Store now has more than 810,000 books including New Releases and 107 of 112 New York Times Bestsellers. Over 670,000 of these books are $9.99 or less.”
So, it looks like now is the perfect time to jump on the bandwagon, huh?
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