From The Authors Guild:
Both publishers and booksellers celebrated the news that print book sales were up 9.1 percent last year. According to Publishers Weekly, booksellers sold 825.7 million books in 2021, up from 757.9 million in 2020. A huge increase in fiction units sold led the way, with young adult fiction sales jumping 30.7 percent, adult fiction up 25.5 percent, and children’s fiction up 9.6 percent, respectively. All told, print book sales have risen more than 18 percent since the start of the pandemic in early 2020.
U.S. Readership Lowest in Two Decades
The statistics on female readership are specifically troubling. For decades, women read nearly twice as many books as men, but the gap has narrowed significantly. The average American woman read 15.7 books last year compared to 19.3 books five years ago. While male readership declined only slightly over the same time period, going from 10.4 books in 2016 to 9.5 in 2021, this decrease in the number of books women read will particularly impact fiction sales, given that women account for 80 percent of all fiction sales in the U.S., U.K., and Canada.
The overall decline in readership is likely due to increased interest in other at-home leisure activities, particularly digital streaming services. Just six percent claimed reading to be their favorite way to spend an evening, far below spending time with family (33%) or watching television or movies (23%). Gallup notes that this is only the second time since 1960 that less than 10 percent of Americans didn’t select reading as their top favorite evening activity.
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Paper Shortages Continue to Delay Book Publication
“Paper mills are not only cutting back, but they’re switching from book grade papers to, in their view, more profitable types of paper products,” said Integrated Books International’s Bill Clockel in a recent interview. “So even though some mills might have closed, more likely than not they’re not making book papers anymore. That’s the biggest problem that we see. There are other challenges with obtaining consumables, but paper clearly is the biggest one.”
Labor also remains an issue due to worker shortages attributable to both COVID-19 and increased employee turnover, as the quit rate among warehousing workers, which includes book distribution centers, ranked the third highest in the nation in November 2021 according to the U.S. Bureau of Labor Statistics.
Though the majority of U.S. authors have experienced significant income declines since the start of the pandemic, many in the book industry remain positive. The percentage of Americans reading e-books rose five percent in the past two years
Link to the rest at The Authors Guild
PG will reveal that during the same period of time discussed in the OP, the earnings of many indie authors, including Mrs. PG, from Kindle Direct Publishing have been climbing.