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Because libraries are, at most 5% of a general trade publisher’s business and far less of the ebook business, and because the market is changing so rapidly and because every retailer except Amazon can be said to be struggling to carve out a sustainable position in the global ebook marketplace, there are many legitimate reasons for the biggest publishers to take a wait-and-see attitude about libraries and ebooks. The fear is of a “shopping and consuming” experience at the libraries which is comparable to what the retailers can offer. That potential is largely mitigated now because most of the big books don’t go to them. But, if they did, publishers fear the market could shift away from retail.
That fear is not just about a “lost sale”. It is also about a “lost channel” of sales, or a pipe to the consumer that runs entirely through Amazon.