The marketing department at Bloomsbury had to modify all their Powerpoint slide templates this week to include a 4th digit for their growth numbers. Used to single and double digit growth in a good year, eBook numbers came in at £1.5m and considering they were just £79,000 the previous year the growth was 1800%.
BBC News reported however, that with a full revenue of £103.4m ebooks still represent less than 2% of the groups overall sales. The quote from CEO Nigel Newton was that "It will change the publishing business model, creating one worldwide market."
I agree with him. We've sold ebooks in three times as many countries in the last 12 months than we have sold physicaly paperbacks and the speed to market is pretty mesmerising. For the smaller publishers the share of ebooks will naturally go faster - we're at 26% already.
The big question is when will the tipping point arrive for the big players? Sure, Amazon sells more Kindle than paperbacks now but that is largely a self-created market. There is some way to go yet before ebooks can claim world domination.
I'd really like to know what share of the groups £4.2m in profits ebooks represented - I'd bet quite a few quid on it being more than 2% of it.