Ebook Sales Up at Simon & Schuster – Now 17% of Revenue
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.