The Bookseller confirms that Penguin Random House is indeed hungry for the old eBook cash stream. Penguin Random House’s (and the other big legacy publishers’) decision to arbitrarily increase the price of eBooks has worked, and as a result, Penguin Random House eBook sales continue to fall.
Their plan was to artificially slow the decline of physical book sales by inflating the price of digital books to ridiculous proportions and thereby torpedoing the burgeoning but lucrative eBook market that was seen as competition. This was a plan?
Now they’re hurting from these self-inflicted losses, and remembering the big profits they used to make selling eBook titles.
They deserve the shit-kicking the eBook market is soon to give them. Hopefully, this will herald a return to more sensible competition in an Indie-dominated eBook Revolution that has been bloodied but remains unbowed.
