Tim Waterstone may have seen the writing on the wall when he launched his new digital venture this week. Or at least made a visit to the United States recently.
E-books last year accounted for 22.6 per cent of US publishers sales last year according to information released yesterday. A report from the Association of American Publishers said that figure compared to 17 per cent the previous year and just 3 per cent in 2009.
However, analysts suggest the figures indicate growth could be set to plateau from the rapid rises seen in 2010 and 2011.
But the levels of sales are an indication of the possible impact on the UK where the market is relatively immature.
Total book sales increased 6.2 per cent to $7.1 billion (£4.6 billion).
Earlier this week bookshop entrepreneur Waterstone announced he had been appointed a non-executive at Read Petite. The new online book venture will offer short stories and serialised books for handheld devices such as the Kindle and the Kobo.
Showing posts with label Kindle. Show all posts
Showing posts with label Kindle. Show all posts
Friday, 12 April 2013
Thursday, 11 April 2013
Bookshop Entrepreneur Waterstone Finally Cashes In On Digital Revolution
Bookshop entrepreneur Tim Waterstone has finally conceded the future may be digital and joined the board of a new online book venture.
Read Petite will begin trading in the autumn to capitalise on a rising demand its founders have identified for short stories that can be read on handheld devices such as Amazon's Kindle. Waterstone has been appointed as a non-executive at the firm and former editor of the Bookseller magazine Neill Denny is chief operating officer.
The site will launch officially next Tuesday at the London Book Fair. The strategy includes a plan to serialise books in a similar way to those published by Charles Dickens that were originally written weekly and utilised plot cliff-hangers.
Tim Waterstone founded the Waterstone's bookshop in 1982 after leaving WH Smith, disaffected and with a £6,000 redundancy cheque. He sold it for £9 million in 1993 but has since tried to buy the chain back several times before joining a successful bid from Russian oligarch Alexander Mamut two years ago.
He has been a vocal supporter of books and bookshops in the face of the online rivals. At first he dismissed the threat of e-books but has more recently insisted the books industry embrace the opportunity and even admits he recently bought a Kindle.
Last year he slammed Amazon for its aggressive business tactics that have enabled it to dominate the industry. He also complained about its 'tax structures' and said its global tax arrangements were 'grotesquely unfair' on High Street bookshops.
Read Petite will begin trading in the autumn to capitalise on a rising demand its founders have identified for short stories that can be read on handheld devices such as Amazon's Kindle. Waterstone has been appointed as a non-executive at the firm and former editor of the Bookseller magazine Neill Denny is chief operating officer.
The site will launch officially next Tuesday at the London Book Fair. The strategy includes a plan to serialise books in a similar way to those published by Charles Dickens that were originally written weekly and utilised plot cliff-hangers.
Tim Waterstone founded the Waterstone's bookshop in 1982 after leaving WH Smith, disaffected and with a £6,000 redundancy cheque. He sold it for £9 million in 1993 but has since tried to buy the chain back several times before joining a successful bid from Russian oligarch Alexander Mamut two years ago.
He has been a vocal supporter of books and bookshops in the face of the online rivals. At first he dismissed the threat of e-books but has more recently insisted the books industry embrace the opportunity and even admits he recently bought a Kindle.
Last year he slammed Amazon for its aggressive business tactics that have enabled it to dominate the industry. He also complained about its 'tax structures' and said its global tax arrangements were 'grotesquely unfair' on High Street bookshops.
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