Summary

The article discusses the potential and growth of the global eBook market, emphasizing its significant size and the opportunity for authors to reach a wider audience through digital publishing.

Abstract

The global book market is a multi-billion dollar industry, with the eBook segment alone estimated at $30 billion annually. Despite the popularity of print books, the eBook market is substantial and growing, with room for expansion even in mature markets like the US, where eBook usage is at 24%. The article suggests that the eBook market's potential is underestimated, with barriers to adoption that can be overcome. It also points out that the lack of eBook adoption in some regions is due to limited access and distribution rather than consumer preference. The digital format offers a vast marketplace with various entry points and profit margins, and it allows authors to establish a reader base in high-adoption countries before moving into larger, albeit lower-revenue markets. The piece concludes by asserting that the challenge for authors is not the lack of money in the market but the structure that governs it, and it encourages writers to enable global readership by publishing eBooks.

Opinions

The article implies that the eBook market is thriving and has untapped potential in many regions of the world.
It suggests that the perceived threat of eBooks to traditional print books is unfounded, comparing it to the relationship between stairs and elevators.
The author believes that the structure of the book market, rather than consumer preference, is the main barrier to authors making money.
There is an opinion that establishing a reader base in countries with high eBook adoption can be strategically beneficial for perfecting a book or series and its marketing strategy.
The piece expresses that authors have a responsibility to make their work accessible to readers globally, especially in areas where physical books may not be as practical or accessible due to economic factors.
The article subtly promotes an AI service, ZAI.chat, as a cost-effective alternative to ChatGPT Plus (GPT-4), suggesting its utility for those interested in the topic.

Should You Publish an Ebook in 2022?

As writers, it’s our duty to connect with readers from every corner of the world

According to the Digital Printing Press, the global book market is estimated to be somewhere between $120 and $130 billion per annum.

Europe — $40 billion
US — $25 billion
China — $20 billion
Japan — $15 billion
India — $4 billion
ROW — $20+ billion

Plus, “roughly US$3Bn across Central and South America” (Winston, 2022).

Isn’t it ironic that the owner of the most famous eReader in the world is named after the longest river in the world?

The Amazon — a region, rich in natural resources — has the lowest market potential for eReaders, despite a huge population.

So let’s explore this further, shall we?

The eBook Market

The global eBook market, as a segment of the entire book market, is estimated to be as big as $30 billion a year. So quite significant. In fact, the global eBook market is “bigger in its totality than the entire US book market.”

Given that this figure is based on shared data from major retailers only, with even Amazon figures hard to come by these days, the actual size estimates of the total independent eBook market are at least twice as large as what is reported (Catalano, 2018).

This indicates that the global ebook market is “simmering under the surface, one at least US$30Bn in size”.

Lovers of print are simply confusing the plate for the food. — Douglas Adams

But even with this data to hand, “the potential of a digital book market is underestimated”, considering penetration in multiple markets around the world” that’s very much in its infancy, “suffering from relatively easy to overcome adoption barriers.” (The DPP, 2022)

Analysis

So it’s clear that there is a massive market out there. A complex marketplace with “multiple entry points and a variety of profit margins.”

As such, there’s massive “room for growth in a number of countries, including what would be considered the more mature”, with adoption in mind.

The US for example, is still only at 24% ebook usage, meaning there is plenty of room for growth — Phil Winston

Other regions tend to be lower than the US, with some markets representing “up to 90% of customers available as the first time and potential repeat readers of your work.” This includes non-English speaking countries:

Germany — 11% adoption, but a high $37 average unit price.
Spain — A “fertile market for testing the waters in Latin markets also, with 14% adoption and $29 per unit” on average.

Establishing a reader base in high-adoption counties could light the way “to perfect a book or series, and even a marketing strategy, before expanding into the much bigger but lower revenue-generating markets”, like Latin American countries (The DPP).

Conclusion

The ebook market opportunity is therefore not simply “a function” of consumer preference, but rather a byproduct of “access, for readers and authors alike, where little to no e-reader distribution exists,” as a result, very little or no ebook adoption and consumption occurs.

Books are no more threatened by Kindle than stairs by elevators. — Stephen Fry

This aligns with the DPP’s proposition, which is based on the fundamental premise that “the lack of money made by authors is clearly not due to a lack of money in the market. But of structure.”

No doubt hard-copy books will continue to be popular around the world unless, of course, you live in a country where paper equates to heat, warmth, cooked food, basic survival needs.

You cannot read words through flames!

So the onus is on us, the Authors, to enable the world to read our work.