Global ePublishing revenues to grow by 9% YoY to $27B in 2021 with eBooks to hit $15.6bn in revenue this year
In 2020, the global pandemic hit businesses in unprecendeted ways.
Publishing was also one such business that was hit badly. With the world being locked up in their homes and having nothing but their phones and electronic devices like iPad and laptops at their disposal, a lot of content consumption moved online. The pandemic caused a massive hit to the offline bookselling and newspaper industries, with millions of customers turning to digital media and online content amid lockdown.
Interestingly, the demand for online content went up massively and is predicted to soar further in 2021 also.
eBooks to hit $15.6bn in Revenue This Year
The ePublishing market includes eBooks, digital editions of the consumer or business magazines called eMagazines, and ePapers as online versions of daily or weekly newspapers. This type of digital content provides several advantages to customers.
The content is easy to purchase and can be downloaded directly on the reading device itself. Whole libraries can be stored online without the need for physical space, which means easier transportation of books. Moreover, ePublishing is also a cost-efficient option for publishers, allowing them to save on printing, logistics, and sales costs.
The global ePublishing market is dominated by eBooks, which are set to reach over one billion users and generate $15.6bn in revenue in 2021, a 6% jump year-over-year. eMagazines and ePapers play a considerably smaller role and are expected to hit $7.2bn and $4.2bn in revenue, respectively.
One of the key players in the ePublishing business, Amazon is the world’s largest ePublishing service provider. With over 60,000 audiobooks and 60 million ebooks for readers to access from on their platform, Amazon dominates the U.S., U.K. and German markets substantially.
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