Apple will have to pay out $400 million in refunds to e-book customers, which they can only use to buy new e-books. The total revenue to publishers for trade e-books in the United States for the first ten months of 2015 was just a bit more than $1.1 billion, so Apple’s settlement could be a significant shot in the arm for the languishing industry. — Bloomberg
McElhearn reports, “This amount will inject a huge sum of money into the publishing industry.”
Read more in the full article here.
MacDailyNews Take: Hopefully, the publishers will take this opportunity to price e-books attractively for a change.
Why Apple’s e-book appeal went down in flames – March 7, 2016
U.S. Supreme Court rejects Apple appeal over $450 million e-book case – March 7, 2016