Monday, September 12, 2011

1-2-3 to the eBook market

In my previous post, I wrote about how content consumption is going increasingly mobile as mobile devices are personal and always near you.  In this day and age of the Mobile Internet when time is now compressed more than ever, consumers are adapting their lifestyles in various activities like reading.  With the introduction of the Amazon Kindle in 2007 in the US and rest of the world in 2009, eBooks and eMagazines are now changing the ways consumers are interacting with the book media.

Here is a quick 1-2-3 to the eBook market:

(1) eBooks Global Market adoption: US leads, followed by the UK, emergent in Rest of the World
  • Books business is BIG BUSINESS - around the world, people spent US$108 billion on books in 2009.
  • In the US, eBooks have grown from 0.6 percent in 2008 of the total books trade  market, to 3% in 2009 and more recently to 7% in 2010.  Expect to see eBooks to have a market share of 22.5% of consumer books in 2015!
  • The UK while lagging behind the US with 1.5% market share of consumer books in 2010 is expected to see this share rise to 14.2% in 2015

(2) eBooks can be consumed across multiple screens and ways
  • eReaders (Amazon Kindle introduced in 2007) as the dedicated  eReading device which ensures a real book reading experience.
  • Tablets (iPad in introduced in 2010) as the multifunction alternative reading devices, while on the move, e.g. with eMagazines.
  • Smartphones for short mobile sequels read during daily commute.
  • PCs, laptops which are great for reading special interest group eBooks, reference, education books.

(3) eBooks and eMagazines provide opportunities as ancillary channels
  • Publishers can look forward to reinvent themselves in the book publishing value chain as content providers.
  • With eBooks, publishers now have in their hands ancillary channels to market with potentially lower costs and higher margins.
  • Publishers could earn ancillary revenues by going beyond the text in the books and repurposing the content to audio, video and even games.
Just like music, tv and video, the books industry has been experiencing disruptive changes in differing degrees around the world - led by the US and impacting the rest of the world through the proliferation of the mobile internet and multimedia consumption devices.

If you are a publisher, are you looking into eBooks?  If not, why?

If you are a consumer, how would you see eBooks changing your reading behaviors, now and in the future? 

Look forward to your views.

warm regards, later~
Nelson Wee

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