Death by Publication: Are Physical Books Going Extinct?
The world of publishing is dying.
At least, that’s what the world has been saying. Since the dawn of accessible technology and e-books, everyone from indie bloggers to big-name news outlets like BBC have had books on their metaphorical list of endangered species. But is this rumor to be believed?
I don’t think so. Here’s why.
In 2006, when fearmongering titles such as “Books will disappear. Print is where words go to die” were popping up, the American publishing industry was earning just shy of $50 million dollars in revenue annually. As of June 2019, the American Association of Publishers reported that those earnings were up to roughly $3.5 billion per year.
That is a massive increase in revenue — in large part due to the success of audiobooks in recent years. The technology we have been fearing would destroy the book industry has actually helped it immensely!
Every market and industry fluctuates. Publishing is no exception. But people still love physical books, and they are still a staple in the realm of academia and many other areas of life. As long as there are people who love writing, storytelling, reading, and learning, physical books are going to be okay. And, surprising as it may be, technology will help assure that.
