Fourteen percent down
Quick link to a New York Times piece about the state of the paperback market:
A comprehensive survey released last month by the Association of American Publishers and the Book Industry Study Group revealed that while the publishing industry had expanded over all, publishers’ mass-market paperback sales had fallen 14 percent since 2008.
“Five years ago, it was a robust market,” said David Gernert, a literary agent whose clients include John Grisham, a perennial best seller in mass market. “Now it’s on the wane, and e-books have bitten a big chunk out of it.”
The old staggered release schedule of hardback -> Trade paperback -> paperback is suffering as ebooks make an impact:
Cost-conscious readers who used to wait for the heavily discounted paperback have now realized that the e-book edition, available on the first day the book is published, can be about the same price. For devoted readers of novels, people who sometimes voraciously consume several books in a single week, e-books are a natural fit.
Who would have thought?? 🙂