Apple’s iPad and Amazon’s Kindle are not only selling in huge numbers, they are also both contributing to a revolution in how people read and absorb data on a daily basis.
Amazon’s Kindle was the first commercially available e-book reader when it was released back in 2007, and it sold out in 6 hours even at the not particularly cheap price of $399. With the third generation Kindle now selling much cheaper at $139, and iPad sales at fever pitch all around the world, there are literally millions of people who are using e-book technology everyday.
Apple’s iPad is priced from $499, but offers a colour touchscreen, longer battery life, and access to a growing number of applications. However, even with the multi-functionality of the iPad, the majority of consumers use it as a reading device. A recent survey by Marketing and Research Resources has found that 40% of those surveyed read more on their iPads and Kindles than via traditional print publications.
With estimates of 10 million iPad sales by the end of the year, and 11 million Americans owning at least one e-book reader, the entire print industry is set to go through a number of massive changes in the next few years. While there may be a number of obstacles for the e-book industry to overcome, such as more expensive devices and reading material, these numbers are sure to even out over time.
There are a number of reasons why e-book prices continue to be more expensive then their printed equivalents, even without the costs associated with paper, ink, and physical distribution. Basically, the traditional book and magazine industries have been active for a long time, and distribution channels have already been made as efficient as possible.
In contrast, Apple and Amazon still seem be working out how profits are going to be divided between themselves and individual publishers, and prices are likely to remain high until these issues are sorted out. This is especially the case with magazine subscriptions, which are still more expensive on digital reading devices.
However, as more manufacturers enter the e-reader market, and more publishers get on board as a result, we are likely to see even more people around the world swapping their paperbacks for a digital e-book reader.
