A new CNBC interview with Kobo CEO Michael Tamblyn is available here and also embedded below.
A text article is also available and includes comments from Tamblyn and others.
According to Tamblyn, the industry’s most valuable customers, those who buy several books a month, are reading both print books and digital e-books, rather than one or the other.
“Those people who are buying the most have allowed those two things to co-exist,” he said. “We are seeing the two formats kind of living together, rather than one supplanting the other.”
Meanwhile, audio books are growing in popularity. Sales rose by 40.3 percent in 2015, according to the AAP. One audio book company, Audible, told CNBC it was experiencing significant growth.
“Audible membership growth is consistent at 40 percent year on year, as more consumers realize how well audiobooks can fit into their busy lives,” Tracey Markham, country manager for Audible, told CNBC via email.