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Originally Posted by fjtorres
All the publicly-available evidence so far suggests that the majority of readers do buy ebooks and that a good portion of the quality promo-ebooks result in increased sales for the author. Even the Price Fix Six seem to be doing okay despite their eroding ebook market share.
Whatever their numbers may be, it doesn't look like over-frugal readers are an industry-wide issue. It may come to pass or it may not.
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Ebook revenues don't match up with the number of ereaders sold.
We have estimates of 14 million Kindles sold in 2010 and at least that many in the first 10 months of 2011. Add in the Nooks, Sony and Kobo. Can we say 40 million devices sold? The APA reported $807.7 million ebooks sold (20 publishers reporting) the first 10 months of last year. That's about $20 in ebooks per device. People with devices are reading on average more than 2 books a year so they are extensively reading public domain, library, freebies, or ebooks from non-reporting publishers. Add in unauthorized downloaders.
If all Kindle owners alone bought 4 NYT bestsellers last year at $12.99 each, sales from just Amazon would reach $1.4 billion.
And I am not figuring in Apple and all ebook apps.