Pearson released an interim progress report today and while it’s still rather vague, they do reveal a few interesting details.
Profits are up across the board, and are estimated to be at 14%. Sales are also up 6% over the first 9 months of 2010. Person also noted that ebook sales had more than doubled over last years figures.
Then again, this isn’t actually new news. Penguin also reported back in July that ebook sales had 14% of revenues and were up 128% over last year. Today’s news isn’t nearly as impressive as that fourteen percent.
But there is one detail that they don’t quite want you to notice. Overall sales at Penguin are the same as 2010, and that means in what looks to be shrinking market (just look at the mos recent AAP figures) ebooks are picking up the slack.
Luckily for me the news about the Financial Times is not as vague. Digital subscriptions are up 30% o at the FT Group, with nearly 250 thousand paying customers and almost 4 million registered users (up 40%). Mobile devices now accounts for a fifth of traffic on ft.com as well as 15% of all new subscriptions. Advertising revenues remained flat during the first 9 months of 2011, but overall revenues were up 7%.
Just to put those Penguin numbers into perspective, a number of their competitors are reporting similar record ebook sales. Simon & Schuster have reported 15%, and Hachette reported ebook sales having tripled to around 20%, and Wiley reported that ebook sales nearly tripled lat quarter.