The latest publishing trade figures make for alarming reading. Tuesday’s edition of the Bookseller reported that this January was the second worst on record for retail. The print business is wasting away at the rate that gangrene spreads. Hachette UK’s revenue in the 4th quarter of 2011 was down by 4.5 per cent on the previous year; at the same time, the company’s eBook sales are up 500 per cent on 2010.
The new data suggests that the much threatened digital future is finally here. The Bookseller reports that digital sales now comprise 25 per cent of Gardeners’s wholesale business. Menawhile, Harper Collins says that digital sales now account for 20 per cent of its UK business; and a spokesmen from its parent company, News Corp, says that the publisher is performing well as the group recoils from poor advertising revenue and the News of the World saga, which has hit operating income by 43 per cent.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in