Kobo Chief Michael Serbinis Says eBook Sales Are Growing

Ebook sales continue to grow and eReader prices continue to drop. So said, Kobo’s CEO Michael Serbinis, in an interview with CNBC Canada that was published earlier this morning. In the interview Serbinis goes into depth about how eReader prices are coming down and how we are coming close to $99 eReaders. Think The Libre eReader, which is already $99 at Borders.

Digital book sales are also taking off. Serbinis said: “When we started this as a pilot project at Indigo, we talked about numbers like two to three per cent [market share of all books] in five years. I think everyone is astonished at where we’re at today, let alone five years from now. At the end of the first quarter this year, some of the top-tier publishers talked about being around nine per cent, so what does that mean at the end of the fourth quarter? Fifteen, 13, 12, who knows? It’s happening faster than anyone expected.”

Via @mikecane.