According to Publishers Weekly the growth in eBooks right now is attributable heavily to lower priced eBooks.
Summarizing, hardback and MMP sales are down. Trade is holding steady, and eBooks are growing heavily in units sold, but revenue per heavy volume buyers is actually down leading to analysis of "eBook buyers are avoiding buying higher priced Agency Pricing books"
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Just as e-book purchases are altering the habits of shoppers by format, their growth appears to be lowering the total dollar volume buyers are spending on books. Dollars per buyer fell from $34.81 in last year's third quarter to $31.65 in this year's third period. Sales per buyer in fiction, a particularly strong segment for e-books, fell noticeably, dropping to $17.12 from $19.62 in the year, while nonfiction spending had a more modest decline, falling from $19.56 to $19.00. Children's spending per buyer dropped from $18.06 to $16.62. The declines are due to dips in both prices paid per book and, to a lesser extent, unit purchases.
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Full article here:
http://www.publishersweekly.com/pw/b...l-holiday.html