Too many books are being published, even as sales are declining. “The number of books sold dropped by nearly 44 million between 2003 and 2004, even as the annual number of books published approaches 175,000. The Book Industry Study Group, a nonprofit research organization, reported estimated sales of 2.295 billion books in 2004, compared to an estimated 2.339 billion the previous year. Higher prices enabled net revenues to increase 2.8 percent, to $28.6 billion, but also drove many readers, especially students, to buy used books.”