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Analyst predicts Amazon e-books growth
24.06.08 | Anna Richardson
Global e-book sales at Amazon could reach $2.5bn by the year 2012, according to Pacific Crest analyst Steve Weinstein.
Talking to the Washington Post, Weinstein uses iPod and MP3 player sales as a comparison.He notes that between 2003 and 2008, digital music sales grew from 2% of the US market to 33%, largely on the back of Apple's twin offerings. Weinstein doesn't expect the Kindle/e-books to track as fast, but he does think the market is off to a strong start already, and that the cycle will pick up steam as the Kindle comes down in price and the ecosystem matures.
He also suspects the consumers will be drawn to the instant gratification aspect of Kindle titles, as well as the lower price per book.
What's significant about this prediction, according to the newspaper, is that he expects e-books to start meaningfully benefiting Amazon's bottom line.
Figures released by Amazon, revealed that of the 125,000 titles the company sells in both physical and electronic forms, the electronic ones account for 6% of unit sales.