The continuing story of e-books
According to the latest information released by online book retailer Amazon, this Christmas, for the first time, e-books out-sold hard copy (i.e. paper) books. The company’s e-book reader, the Kindle, is now more likely to contain a customer’s book collection than a bookcase or a set of shelves on the wall. This raises a number of questions, but perhaps some of the more interesting ones include what this will do to book prices, how writers and publishers will be affected, and what kind of ‘market’ this will turn into.
Take this example. If you would like to buy Colm Toibin’s latest book, Brooklyn, then on Amazon you can get the paper edition for $16.50. But if you go for the e-book (Kindle) version, you will have to pay $13.79. So you’ll get the electronic version at a lower price, but low enough? If you’ve just got the Kindle, and you are full of admiration for your new toy, maybe you won’t think that price too bad. But let us say you’ve had the device for six months, and you start wondering about what this money is paying for, and in particular that neither the publisher nor Amazon have to create and then ship anything of material value to you, then you may start thinking that the price is too high.
In fact, it appears that many customers regard $9.99 as the top price that would be acceptable for an e-book – and I’ll bet my first edition of Dickens’ Bleak House that in another two years or so that price elasticity will have slipped further and the limit will be $4.99. And between now and then you’ll have publishers and agents and Amazon itself arguing about copyright and older titles and heaven knows what else, and before you know it the whole publishing industry will be plagued by piracy and other such stuff.
There is also a rumour that Apple is about to enter this market – wait for an updated version of iTunes with book content for your iPodReader or whatever.
There will be interesting times ahead. E-book readers are here to stay. And e-books provide opportunities for publishing and distribution that could rattle the cages of the large publishing houses and open up some real competition. Let us hope that this is how it will develop.Explore posts in the same categories: culture, technology comment below, or link to this permanent URL from your own site.