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Ebooks now outsell hardbacks
For the first time ever, ebook revenues have exceeded hardcovers, according to new figures released by the Association of American Publishers.
The AAP's figures reveal that, electronic books accounted for $282.3 million in sales in the first quarter of 2012, up 28.1% on last year.
It's the first time that ebook sales have accounted for more revenue than hardcover books, sales of which accounted for $229.6 million in the first quarter of this year, up 2.7% from last year.
The only category in which hardcover books experienced growth was in young adult and children's material. Revenues in this category rose to $187.7 million whereas ebooks reached $64.3, albeit a healthy year-on-year hike from just $3.9 million. As e-reading devices fall in price, and more children have access to e-book readers, this category is set to skyrocket.
Paperbacks continue to lead with $299.8 million in revenue, although there has been a decrease on last year when the format generated $335 million in revenue.
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