E-Reader Demand Explodes, For Now

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By Douglas A. McIntyre Updated Published
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The demand for e-readers is nearly insatiable and the trend is likely to continue, at least for a little while. People with e-readers read more, which is good for the e-book industry. “Overall, two in five Americans (40%) read 11 or more books a year with one in five reading 21 or more books in a year (19%). But among those who have an eReader, over one-third read 11-20 books a year (36%) and over one-quarter read 21 or more books in an average year (26%)”, a new Harris Poll shows.

Among those adults who do not have an e-reader, 12% are likely to buy one in the next six months. The report argues e-reader owners have easy access to books because they download them online and that they are more likely to carry the device because it is light and convenient.

E-readers, though, are still a novelty. Those people who own them may show initial enthusiasm which is accompanied by nearly manic buying behavior because of their supposed ease of use. And the excitement may drive e-book adoption, although it is not clear how many of those downloaded tomes are actually read.

The e-reader may not be a mass market product. Several studies have shown that most people believe that e-readers are too expensive. And many readers prefer “old-fashioned” paper books.

The devices could end up with a fate similar to the hula hoop. Millions of the novelties were sold in the early 1960s and people who owned them often used them regularly for long periods of time. But hula hoop owners soon tired of them. There were easier and more traditional ways to get exercise.  Hula hoops are a rare sight today.

Some readers may use e-readers now, but 10 years from now, they may be nothing more than ancient paper weights.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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