A new format for books priced at less than a tenth of the current hardcover price? It’ll destroy publishing, right?

Well, it didn’t the first time.

In 1939, Pocket Books launched the paperback, a 25-cent version of books that usually sold for $2.75. Critics said that no one would buy. Some said it would bankrupt the industry.

Yet, within six years, Pocket had sold 100 million copies, creating an entirely new and incredibly lucrative revenue stream for publishers.

How did the paperback succeed? advances in technology, a broader distribution network, and a vastly cheaper price combined to serve an exponentially larger audience.

Familiar?

via Mental Floss