Simon & Schuster released their quarterly report today, and the news is both good and bad.
Print sales were down significantly - to the lowest point they've been in years. S&S CEO Carolyn Reidy attributed this to the closing of Borders, but the weak economy probably also had an effect IMO. But ebook sales more than made up for the difference. Simon & Schuster reported seeing a 1% increase in revenue over the same quarter last year.
Ebook sales are now counting for 17% of revenue at Simon & Schuster. That's up slightly from last quarter, and it's also about double what S&S reported last year.
These new numbers from S&S are in line with their major competitors, with Hachette reported ebook sales having tripled to around 20%, Wiley reported that ebook sales nearly tripled last quarter, and Penguin reporting a doubling in ebook sales just yesterday. I guess this means that Price Fix 6 aren't hurting themselves with the higher prices, much to my surprise.
You have to wonder how much higher it would be if the prices weren’t fixed. I got out of my way not to buy anything they publish now.. I’m sure I’m not alone..
Word!
>>>S&S CEO Carolyn Reidy attributed this to the closing of Borders
Which she and the other Big 5 can only blame themselves for since they wouldn’t work to keep Borders going.
Word! 😉
Nope ur not alone. I dont guess. Word!
[…] most interesting is how ebook revenues held steady throughout the year. I only have the first and third quarter estimates at hand, but those were reported as being 18% and 17% of revenue. This is a huge […]
[…] then they are still seeing a much larger increase than Bloomsbury.And Hatchette was not alone. Simon & Schuster, Penguin, and Wiley all reported great sales last fall. So what sets Bloomsbury apart, do you […]