More evidence today that the digital age is here -- and here to stay, in case there was any doubt in your mind.
E-book sales topped sales of paperbacks for the first time ever in February, according to the Association of American Publishers. In fact, e-book sales tripled -- soaring 202 percent -- to $90.3 million when compared with February 2010. Adult trade paperback sales trailed at $82.1 million.
The one-month surge in e-book sales is largely due to the post-holiday season, as consumers who received e-readers or tablets as a gift loaded up on new reading content. Also factoring in was the horrible winter weather that hit several parts of the country and prevented consumers from getting to brick and mortar stores.
But this is a trend in the industry that isn't going anywhere. As Henry says in the above video, it won't be long before e-book sales outpace ALL books. In fact, adult trade book sales (hardcover, paperback and mass market) fell 34.4 percent last month, while sales of children's and young adult books dropped by 16.1 percent.
Large book retailers are also taking a beating from the move to digital content. Barnes & Noble's (BKS) stock has dropped significantly in the last five years, and Borders filed for Chapter 11 bankruptcy earlier this year.
When was the last time you read a real -- meaning physical -- book?