Why physical books still outsell e-books | CNBC Reports

Summary

Despite the rise of e-books and digital media, physical books continue to dominate the market, with print still holding strong in various genres. While e-books gained momentum with the release of Amazon's Kindle in 2007, and offered convenience and affordability, readers still value the tactile experience and emotional connection that print provides. E-books are often preferred for genres like crime and romance, while children’s books and high-profile releases are still predominantly printed. The resilience of print books reflects a broader trend where younger generations continue to appreciate physical copies, ensuring the longevity of books in all formats.

Takeaways

• 😀 Despite the rise of digital media, print books are still preferred by many, with 67% of Americans reading a physical book in 2017.
• 📚 E-books have been around since 1971 with Project Gutenberg, but the modern e-book era began in 2007 with the release of the Amazon Kindle.
• 💻 The Kindle's popularity led to the question of whether physical books would become obsolete, but print books have remained dominant.
• 📈 Print books continue to outperform e-books in terms of sales, with physical books generating $22 billion in the U.S. in 2018, compared to $2 billion from e-books.
• 🖋 The appeal of physical books lies in their tangible nature, beautiful cover designs, and the emotional connection readers have with them.
• 🌍 E-books may be cheaper to produce, but print books remain more popular in markets like fiction, cookbooks, and children's literature.
• 📖 A study found that readers retain more plot details when reading physical books compared to e-books, particularly in mystery stories.
• 📊 In the U.S., millennials (under 44) are driving physical book sales, showing a preference for printed versions over e-books.
• 🏪 Despite the dominance of online retailers like Amazon, traditional bookstores are adapting by offering welcoming environments for readers.
• 📱 Amazon's physical bookstores use Kindle reading data to create curated sections, like 'unputdownable' books, based on reader behavior.

Q & A

What percentage of Americans read a physical book in 2017?

67% of Americans read a physical book in 2017.

How did Project Gutenberg contribute to the development of e-books?

Project Gutenberg, started in 1971, helped lay the groundwork for e-books by offering free access to older works whose copyrights had expired.

What event in 2007 contributed significantly to the popularity of e-books?

In 2007, Amazon launched its Kindle, marking a significant moment in the rise of e-books.

What was the price of the first Kindle, and how quickly did it sell out?

The first Kindle was priced at $399 and sold out in just five and a half hours after its release.

By 2010, what shift occurred in the book industry regarding e-books?

By 2010, Amazon announced that it was selling more e-books than hardcover printed books.

Why do physical books remain appealing despite the rise of e-books?

Physical books are valued for their aesthetic appeal, beautiful cover designs, and the emotional connection readers feel towards them, as well as their decorative and collectible value.

What role do cookbooks and nature writing play in the resurgence of print books?

Cookbooks and nature writing are seeing a resurgence, as readers are seeking both escape and knowledge, which is often easier to connect with in print form.

How do the reading habits of different genres vary between physical books and e-books?

In the U.K., readers tend to prefer fiction genres like crime, thriller, and romance on e-readers, while children's books are mostly read in print.

What challenges do some readers face when reading on e-readers?

One study found that readers struggled to recall plot details of a short mystery story when reading it on a Kindle compared to those reading it in paperback form.

How has Amazon's presence impacted traditional bookstores?

Amazon's online book sales disrupted traditional bookstores, leading to the bankruptcy of U.S. chain Borders and a steady decline in Barnes & Noble's sales. However, bookstores have adapted by creating welcoming spaces that offer experiences not available through digital media.

What role do e-books play in helping new authors gain recognition?

E-books have allowed new authors, such as Hugh Howey with his book 'Wool,' to gain significant attention, often leading to print rights being acquired by mainstream publishers.

How do younger and older generations differ in their book format preferences?

Younger generations are more likely to read physical books, with 75% of people aged 18 to 29 in the U.S. having read a physical book in 2017. In contrast, older adults tend to prefer e-books, with 52% of e-book sales going to those over 45.

What does the future hold for books in various formats?

Books, in all formats (physical, e-books, audiobooks), are expected to continue thriving as people will always seek stories and knowledge, regardless of the medium.