Figures in for 2012 show that sales of printed books fell by almost £74 million ($119 million) in the UK. At the same time sales of e-books has risen.
Readers in the UK spent £1.514 billion on physical books in 2012, a figure down 4.6% compared with 2011 (as reported by the Daily Telegraph). With electronic book, however, there was a rise of 5%. E-books now account for around 14% of all books sales.
Although e-book sales were up, the actual value of the e-book market fell due to publishers offering bestseller titles at very low prices as 'loss leaders'. The BBC notes that some best sellers were selling for less than £1 ($1).
The Guardian recounts that of the books sold during 2012, one in twenty was a copy of the EL James' Fifty Shades erotic trilogy. The set of books made around £47.3 million. The first book in the series, 'Fifty Shades of Grey', is now the best-selling novel of all time in the UK.
More books were sold during the second half of 2012 compared with the first half. The sales data comes from the group Nielsen BookScan. Nielsen BookScan collects the retail sales information from point of sale systems in more than 31,500 bookshops around the world.