E-Book Purchases Surge in January, Paperbacks Plummet
The e-book market was expected to do exceptionally well in January as new Kindle and other e-reader owners cozied up to their new devices after receiving them as gifts over the holidays. And that's exactly what happened.
According to the Association of American Publishers, e-book sales jumped a whopping 115.8 percent from the same month last year.
E-books raked in a strong $69.9 million during January 2011, up from $32.4 million in January 2010. While e-books hit it big, sales of adult paperbacks and hardcovers dropped 19 percent and 11 percent, respectively.
In addition, total book sales on all platforms took a slight hit in January, dropping 1.9 percent to $805.7 million.
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