If you follow the book trade, you knew this was coming. E-books, no matter whether you read them on an Amazon Kindle, a Barnes & Noble Nook, or your iPad are selling like crazy. We may complain about their high prices and even take eBook publishers to court for their prices and hardware lock-in, but we love our e-books. In fact, we love them so much that for the first time adult eBook sales were higher than adult hardcover sales.

It wasn’t even close. The Association of American Publishers reported that in the first quarter of 2012, adult eBook sales were up to $282.3 million while adult hardcover sales came to only $229.6 million. In last year’s first quarter, hardcover sales accounted for $223 million in sales while eBooks logged $220.4 million.

So where are the eBook buyers coming from? The answer is trade and mass-market paperbacks.

It’s the end of books as you knew them: E-books out-sell hardbound for the 1st time. More >