How Penguin Random House Helped Save the Book Shop
Five years ago, the book world was seized by collective panic over the uncertain future of print.
As readers migrated to new digital devices, ebook sales soared, increasing 1,259 percent between 2008 and 2010, alarming booksellers that watched consumers use their stores to find titles they would later buy online. Print sales dwindled, bookstores struggled to stay open, and publishers and authors feared that cheaper ebooks would cannibalize their business.
Then in 2011, the industry’s fears were realized when Borders declared bankruptcy.