Stocks and Shares - Amazon Looking GoodSome time ago I wrote about Amazon and how its Kindle was selling extraordinarily well - Amazon Kindle - and how Amazon shares could do well as a result.
Amazon 5 year weekly chart with 50 day and 200 day moving average
The popularity of the Kindle has been such that ebook sales on Amazon have now outstripped print book sales. I predict that this trend will continue! Borders bookstore chain has been one of the major casualties of this trend, closing down just a few weeks ago. Their demise was largely their own fault as they did not get with the program soon enough. Barnes and Noble might fare better as they have their own ebook reader and so have seen which way the wind is blowing.
One other consequence of the success of the Kindle and ebooks in general, is that writers now no longer need publishers and agents to get their books out to the public. This has already led to an upsurge in the number of wannabe best-selling authors. It really is very easy to get your novel in fron of the eyes of millions of people. Just write a novel (around 100,000 words), romantic vampires are a very popular subject. Convert it into the Kindle format (easy when you follow the instructions over at Amazon) and stick it up on Amazon's site for $0.99 or $2.99. Then sit back and wait for the money to flow in.
This has already happened with J A Konrath, Amanda Hocking- see her story at best-selling ebooks and Noleani Rodriguez, who are making millions of dollars just by selling their ebooks at $2.99 a pop. Amanda Hocking has also now signed a $2 million book deal with St Martin's Press and an option on film rights.
The upshot of all this is that ebooks downloaded to ebook readers such as the Kindle and the Nook are the way publishing is going. So I predict hard times for traditional publishers who don't get their act together, hard times for literary agents as their services are no longer essential, good times for editors as some of the writers clearly have trouble with grammar and spelling (despite the ubiquity of spellcheckers), good times for writers who can write something interesting and more good times for Amazon!
Also if you have a novel stuck away in your bottom drawer that has been rejected 200 times, or if you have written a useful ebook on the stock market, stock trading, technical analysis etc... now is the time to dust it off and upload it to Amazon!
For ideas on stock trading ebooks check out the best-reviewed stock trading ebooks
Amanda Hocking received "literally like thousands" of rejection slips before she finally decided to make her unwanted books into much-loved ebooks and she has the millions to prove it!
See also Barnes and Noble on ebook readers