Dwindling Book Sales Create Gloomy Atmosphere For Book Expo
May 29, 2009
The New York Times has an article that discusses diminishing book sale figures and less enthusiasm about the upcoming Book Expo.
Publishers sold 3.08 billion copies in 2008, down 1.5 percent from the 3.13 billion copies sold the previous year, according to Book Industry Trends 2009, an annual report that analyzes sales in the United States. Higher retail prices helped to lift net revenue just 1 percent, to $40.3 billion from $39.9 billion.
The numbers confirm a litany of dreary news that has emerged from the publishing industry since last fall, when booksellers began seeing significant declines in store traffic. The trend has not abated this year, as publishers have continued to report double-digit sales declines. Borders Group announced Tuesday that first-quarter sales dropped 12 percent.
Against this backdrop, publishers, authors, booksellers and librarians are gathering in New York for BookExpo America, the industry's annual convention, which runs through Sunday.
The 12% Q1 sales drop at Borders is depressing but it really isn't that different than what other industries are experiencing during the recession. In fact, some industries reported far worse Q1 sales figures. This should mean that book sales should return once the economy rebounds.
