For all of us who have wondered where the eBook market is going and just how fast it will get there, comes a couple of headspinning predictions buried in an otherwise dull, dull, dull news release.
Late last week, LibreDigital, the sort of company you only read about in a business magazine while you’re stuck at the dentist, secured an additional $15M in venture capital, as reported by Venture Beat. LibreDigital supplies eBook software services to six out of ten of the top publishers in America, romance publishers HarperCollins, Simon & Schuster, and Hachette among them.
Okay, so great, this Libre group gets a cool 15, but here’s the interesting part, remarks from one of LibreDigital’s new investors, plus the company chairman, as quoted by Venture Beat.
“Demand for books & newspapers in digital formats is out-pacing supply,” Triangle Peak co-founder David Pesikoff said in a prepared statement. The amazing thing about this over-the-top statement is it’s true. Consumers seem frustrated by the limited options for reading newspapers and books in an electronic, portable format.
LibreDigital chairman Martin Neath [snip] claims the market for e-books and similar electronic editions of printed materials will exceed $2 billion by 2012.
Two billion? In May, eBook sales were a mere $11.5 million. If the projections come anywhere near reality, in a short three years, romance publishing, not to mention RWA’s stance on eBooks, may be getting a serious makeover.