The French media conglomerate Lagardère released their financial docs today, and it looks like ebooks are about to become the tail that wags the dog.
Business was generally good for Lagardère, but the ebook biz has been fantastic. Hachette reported that ebooks were now 20% of sales in the US and 8% of sales in the UK. That's double the figures for the first half of last year.
But the more important news is that ebooks are now 5% of net sales for the entire Lagardère Publishing division. That includes all the markets they serve. Impressive, no? On the other hand, it gets slightly less so when you factor in that the income for Lagardère Publishing dropped by over 7% compared to last year.
In comparison, Penguin's most recent numbers peg ebooks at 14% of revenue, while Simon & Schuster have reported 15%.
image by ImaginaryGirl