it is becoming increasingly difficult to consider book publishing (and
reading) separately from the adjacent content and media industries. Nevertheless, as yet, ebooks are a critical factor only in a relatively small number of markets. These are led by the USA (13%) and the UK (11.5%), with Germany (5%) developing more recently. These are,
however, key markets for the industry, both because of their size and because they host the headquarters of many of the global leaders in trade publishing (see Table 1).