Waterstones founder states that ebook sales have peaked
It may be the new kid on the block, upending 1,000’s of years of written history, but the eBook’s days may be numbered before they’ve barely begun – at least according to Waterstones founder Tim Waterstone.
Recounting the singular properties which have given the printed book such staying power Waterstone described the printed volume as ‘one of the most wonderful, really successful consumer products of all time’.
Waterstone added that predictions of the demise of books were grossly exaggerated, saying: “The product is so strong, the interest in reading is so deeply rooted in the culture and human soul of this country that it is immovable. The traditional, physical book is hanging on. I’m absolutely sure we will be here in 40 years’ time.
‘The ebooks have developed a share of the market, of course they have, but every indication – certainly from America – shows the share is already in decline. The indications are that it will do exactly the same in the UK.”
Recent sales figures from the Association of American Publishers showed hardcover sales rose 11.5 per cent over the past 12 months vs just 4.8 per cent for ebooks.