E-books sales soar in 2011

NEW YORK (AP) — Yes, e-books and novels for young people are hot.

Sales of e-books more than doubled from 2010 to 2011, according to a survey of nearly 2,000 publishers released Wednesday. E-books jumped from 6 percent of the market to 15 percent and e-revenue for new adult fiction is now higher than the revenue for hardcovers.

Sales for books overall dropped 2.5 percent to $27.2 billion and 12.6 percent at physical stores, thanks in part to the fall of the Borders superstore chain. But revenue for children's/young adult fiction increased 12 percent, with "The Hunger Games" selling millions of copies and readers of all ages buying them.

The survey was compiled by the Book Industry Study Group, a research organization, and the Association of American Publishers.

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