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eBook revenues outpace print in Q1

Net sales revenue from eBooks have surpassed hardcover books in the first quarter of 2012, pointing to a historical moment in publishing.

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eBooks outsold hardcover books for the first time

According to the Association of American Publishers’ (AAP’s) net sales revenue report, adult eBook sales were $282.3 million, while adult hardcover sales counted $229.6 million during the first quarter of 2012. During the same period last year, hardcover sales accounted for $223.5 million in sales while eBooks logged $220.4 million.

“In Q1 2012, net sales revenue for eBooks was higher than that for Hardcover; this represents a switch of positions in the category vs Q1 2011. In both quarters, however, Trade Paperback remained a clear #1 in net sales revenue despite some erosion. While eBooks continue to show growth, downloaded audiobooks also keep accelerating vs last year – as some experts have said, tied to ongoing popularity and acquisition of smartphones and mobile devices.”

A glimmer of hope for bibliophiles is in the Young Adult and Children’s category which saw growth in revenue for hardcovers, up nearly 67 percent to $187.7 million. This category saw a 233 percent increase for eBooks to $64.3 million, but remains far behind print sales.

Personal story about my bibliophilia

Hi, my name is Lani, and I am a bibliophile. Whew, that feels good to get off of my chest. It may surprise some of you that know me well, because I report on technology and operate a digital publication, but despite the changing technology, I can’t shake my affinity for physical books.

When I was young, we lived in the Texas country with not much to do nearby. Before Kindergarten, I would hide in my grandmother’s classroom as she taught dyslexic children to read through the Phonics program. Like magic, I picked it up, and out of curiosity and boredom, I began reading the Nancy Drew series, which was the only thing that looked interesting in my grandparents’ giant wall of books. Before I started school at age four, I had finished the entire series which made school quite boring as children recited the alphabet and I smuggled novels into the classroom to read while they struggled.

By age six, I was writing poetry and had been published, and my book collection was massive. I was always the kid in the class who read the highest volume of literature, and I won a contest in sixth grade for my reading so much, which I seriously thought would be the pinnacle of my entire life. All of this led to my enthusiastic trip to Dallas that year to a shell of a second story retail location my aunt and uncle had just leased, as they were opening an independent children’s bookstore. The green grass carpet had just been laid, a stage was built, the walls were covered in chalk board material (before chalk board paint existed), a castle had been built in a corner, and there were boxes and empty shelves everywhere. I distinctly remember the smell of fresh hardback books in a box that no shopper had ever touched, and the softness of every single page. There was a glowing pride that swelled up inside of me with every book I had the honor of neatly putting on a shelf.

I worked at the bookstore every summer in high school and the first few years of college, and was able to meet many famous authors, and perform dozens of story times in costume. I loved it. There was this inherent understanding that it was an honor to be around books, because each word was poured out from someone’s soul and shared with the world.

In college, I studied English Literature as well as Spanish Literature, and I was again honored to be educated by novelists and students of the written word. I kept all of my textbooks and novels from college, and every so often visit them when I have time.

To me, physical books are more than just an author’s word that can be translated across any medium. I read eBooks, and I purchase print books, but I still have a different physical reaction when turning pages than I do reading digitally, and I am able to retain more from the pages that smell like a new bookstore. While not everyone has the same affinity for booksas I do, and not everyone could possibly care as much, I still choose print over digital, even as a digital publisher myself. The next generation may feel differently, but for me, nothing beats being honored with a writer’s soul that spilled onto a page that I smuggled into a classroom when I was four.

Lani is the Chief Operating Officer at The American Genius and sister news outlet, The Real Daily, and has been named in the Inman 100 Most Influential Real Estate Leaders several times, co-authored a book, co-founded BASHH and Austin Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

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1 Comment

1 Comment

  1. HannahShaner

    June 19, 2012 at 2:15 pm

    As a book publicist for many indie author imprints, I completely understand your sentiment! There’s nothing quite like the smell and feel – and just overall experience – of a printed book. As a publicist for a free DIY e-publisher (Booktango), though, it’s such a different world. I truly hope print books never go out of existence, but it’s only logical to be able to access books like we access everything else – right this second, wherever we are. Interested to see where things go…

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Jenzy helps perfectly measure your kids’ feet

(TECH NEWS) Jenzy is a mobile app currently in beta that helps you perfectly measure your kids feet and buy shoes without having to leave your home.

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Parents rejoice, there’s now a mobile app that sizes your child’s feet to determine their correct shoe size. No more carpet charts that every kid has put their dirty little socked foot on, or those weird metal sizing instruments.

With Jenzy, you just take a picture of your child’s foot, and the app calculates the measurements. It then generates personalized size and style recommendations, which you can order directly from the app.

Jenzy partners with podiatrist recommended brands designed for active kids, including pediped, Robeez, and Morgan & Milo. However, you don’t have to purchase their suggestions to receive the sizing info.

Incorrectly sized shoes are a literal pain for everyone, but this especially affects children, who don’t have purchasing power.

Additionally, shoes that don’t fit can have long-term effects on children’s growth and development, and lead to foot problems in the future. Properly fitted shoes are necessary for healthy foot development.

Wearing incorrectly sized shoes is just part of the problem. If shoes aren’t suited for every day use, children’s feet and overall growth can also suffer.

Flip flops, ballet pumps, and shoes with raised heels are not recommended by podiatrists for frequent use, as they can cause discomfort, or even musculoskeletal issues.

According to Dr. Stewart Morrison, a University of Brighton podiatrist, “children’s feet are still growing and are more susceptible to damage than adult feet, so it’s really vital to ensure they are wearing shoes which fit them well – in width as well as length – and that are suitable for age, as well as the task they are wearing them for.”

As online shopping has taken over, fewer parents are getting their children’s feet sized by in-store experts. Of course, there’s also a cost-barrier, as many stores that offer shoe-sizing are often more expensive.

Jenzy hopes to bridge that gap, providing parents both proper shoe sizes and affordable products designed to last.

Right now the app is set to launch in December, but if you don’t want to wait, apply to take part in the beta test on Jenzy’s site.

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Time is money and Clockify helps you make the most

(TECH NEWS) Tracking your time worked as a freelancer can easily be lost in the shuffle. A new tool has been designed to make this important aspect easier.

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After years of searching for a method that works for me in terms of organization and productivity, the answer seemed to be simple: a calendar I can write on and Post-It notes. This method is a little old school, but seems to get the job done for my organizational needs.

However, there are some things that slip through the cracks with this method, but it’s more user error than it is the actual practice. One thing I struggle with is keeping track of my freelance hours this way.

I have a tendency to guesstimate how much time I worked throughout the day and know that I wind up underdocumenting my hours. I would hate to know how much money I’ve missed out on keeping (sometimes inaccurate) handwritten notes.

But, like many other small scale issues, there is a simple solution. And that is found in the form of time trackers.

One of the newest members to join the online time tracker team is Clockify, who operates under the idea of “your time, your rules.” It is a free time tracking tool designed for agencies and freelancers.

Clockify allows users to manage as many team members, projects, and workspaces that you need in an effort to help your business run smoothly. This allows for a complete overview of team productivity.

The tool offers a way to enter time manually as well as clock time automatically. This way you can keep tabs on what you’re working on and assign and label time logs to the appropriate clients.

With this time tracking, you are able to generate weekly, monthly, and annual reports at any given time. These reports can be saved, exported, and shared with clients to give them more information about your work process.

The real-time tracking helps to improve business efficiency and gives more insight into what each team member is spending their time on. Having this information available can give visual representation of how to improve in the future.

Clockify currently exists in desktop format with iOS and Android apps coming soon.

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Russia vetoed cryptocurrency and came back with CryptoRuble

(TECH NEWS) Russia put a hard pass on other cryptocurrencies in their country so that they could hop in the crypto-game with their own CryptoRuble.

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Just days after The American Genius reported that the Russian Central Bank would attempt to block access to cryptocurrency trading cites, the Coin Telegraph has reported that the Russian government will issue its very own cryptocurrency, the CryptoRuble.

The report cited local Russian papers, who quoted the minister of communications, Nikolay Nikiforov.

Earlier this week, head of the Central Bank, Sergei Shvetsov, said that he would work with the Prosecutor General’s Office to ban Russian citizens from accessing cryptocurrencies like Bitcoin, calling such currencies a “negative phenomena for our markets” and a “pyramid scheme.”

Now it appears that the Kremlin will create its own cryptocurrency – one it can keep an eye on — which, some might argue, defeats the entire purpose of cryptocurrency.

However, like other cryptocurrencies the CryptoRuble will be based on blockchain and will presumably help prevent online fraud.

CryptoRubles will be exchangeable with regular Rubles, although the systems of exchange have not yet been set up. Experts think that Russia is hoping to stimulate e-commerce without the need for foreign money markets, which will allow them to have more independence from the United States.

According to Nikiforov, the Russian government is setting up its own cryptocurrency under the assumption that if they don’t, other European governments will.

Said NIkiforov, “I confidently declare that we run CryptoRuble for one simple reason: if we do not, then after two months our neighbors in the EurAsEC will.”

Traders using CryptoRubles will be asked to provide documentation of retail transactions and services rendered – or pay a 13 percent tax for undocumented transactions, leaving a wide loophole for money laundering.

Critics say that Russia is trying to facilitate, while also profiting from money laundering; that the Kremlin is stealing the market from other cryptocurrencies; and that the CryptoRuble fundamentally defies the spirit of decentralization that inspired other cryptocurrencies.

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