Numerous reports that Publishers make less money on agency pricing compare to wholesale.
Macmillian CEO even admit this:
http://blog.authorsguild.org/2012/04...ceo-macmillan/
Quote:
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When Macmillan changed to the agency model we did so knowing we would make less money on our e book business.
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For example, wholesale, a $25 recommended retail price meant Amazon paid $12.50 for the ebook. Under agency, that same book is priced at $12.99. The publishers get 70% or $9.093
Wholesale: $12.50 to the publishers
Agency: $9.093 to the publishers
These publishers must have felt that making less money on ebook is a worthy tradeoff in protecting their print business.