Digital Sales up 44% at Simon & Schuster, Now 21% of Total Publishing Revenues
Digital sales were up 44% at Simon & Schuster in its second quarter and digital now represents 21% of all publishing revenues at the company, according to a press release issued by its parent company CBS this morning to report second quarter 2012 financial results.
Overall sales were up at the New York-based publisher due to the strength of digital but would have been up more if not for lower print book sales.
The increase in sales was also offset by legal expenses, said the statement, likely due to the Department of Justice e-book price-fixing lawsuit, which is expected to go to trial next summer. Simon & Schuster is one of three companies, along with Penguin and Apple, fighting the lawsuit.
Revenues were up 3% to $189 million from $183 million over the second quarter in 2011. Titles of note for the publisher were The Wind Through the Keyhole by Stephen King and Cowards by Glenn Beck, according to the release.