The publishing industry has always been bombarded with various challenges, including declining readership and irregular revenue streams. Many books and magazines are now available online to retain readership. The digital realm is also deemed to be more cost-effective and interactive for users.
According to the Association of American Publishers, e-books are accountable for 23% of trade publishing revenues. As a result, big textbook publishers including Pearson Plc and McGraw-Hill Education are now going online with more interactive features for the students.
There seems to a steady gradual rise in e-book consumption in Asia due to the influx of mobile devices. Publishers are pinning their hopes on consumers who acquire mobile devices such as tablets and smartphones to subscribe to the e-books. Meanwhile in Europe, digital sales has accounted for 66% growth; equivalent to £411 million.
The transition might not happen overnight but it is predicted that the publishing industry would soon turn completely digital.
Do you think e-books signify the final chapter for print publications?
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