July 18, 2012 - 2:30 AM
NEW YORK, N.Y. - Yes, e-books and novels for young people are hot.
Sales of e-books more than doubled from 2010 to 2011, according to a survey of nearly 2,000 publishers released Wednesday. E-books jumped from 6 per cent of the market to 15 per cent and e-revenue for new adult fiction is now higher than the revenue for hardcovers.
Sales for books overall dropped 2.5 per cent to $27.2 billion and 12.6 per cent at physical stores, thanks in part to the fall of the Borders superstore chain. But revenue for children's/young adult fiction increased 12 per cent, with "The Hunger Games" selling millions of copies and readers of all ages buying them.
The survey was compiled by the Book Industry Study Group, a research organization, and the Association of American Publishers.
News from © The Associated Press, 2012