In its third quarter results released today, Legardere that its U.S. books subsidiary Hachette Book Group digital represented 20% of overall revenues in the quarter.
More details and highlights from the earnings announcement below:
Lagardère released its results for third quarter 2012 today. Highlights of the company’s performance are as follows:
At Lagardère: The Lagardère group’s activity “held up well, notably thanks to a return to sales growth at Lagardère Publishing and continued development in Travel Retail at Lagardère Services,” according to the company’s press release. The Group delivered net sales for the third quarter of €1.963B (-0.4% on a like-for-like basis and -1% on a reported basis).
At Hachette Livre: Hachette Livre (Lagardère Publishing) delivered net sales of €626M, up 4.2% in reported terms and up .1% like-for-like. Of note during the third quarter was the stellar performance by General Literature, which rose sharply in France (+12.4%), the UK (+17%), and the US (+7.3%), thanks to the release of JK Rowling’s THE CASUAL VACANCY on September 27. This solid performance by General Literature helped offset the slowdown in the company’s education business in France, Spain, and the UK. Digital continues to grow within the publishing division, accounting for 20% of total third-quarter Adult trade book sales in the US and 20% in the UK, representing 6.4% of total net sales for Hachette Livre.
At Hachette Book Group: While net revenues were up 6% in the third quarter, on a year to date basisHBG’s sales are still below the prior year. Digital sales at HBG increased 3% compared with the third quarter of 2011. Digital represents 20% of HBG’s net sales, consistent with last year.
HBG had 184 titles – including 27 #1s – on the New York Times bestseller list thus far in 2012. We have surpassed our year-end total of 182 bestselling titles in 2011. In addition, 59 titles hit the New York Times ebook bestseller list. The key titles driving HBG sales for the third quarter include LOW PRESSURE by Sandra Brown, CHANGE YOUR WORDS CHANGE YOUR LIFE by Joyce Meyer, I DECLARE by Joel Osteen, I, MICHAEL BENNETT by James Patterson and Michael Ledwidge, NEVERMORE by James Patterson, THE CASUAL VACANCY by JK Rowling, and THE BEST OF ME by Nicholas Sparks.
HBG rounds out 2012 with a superb fall list that includes THE FORGOTTEN by David Baldacci, AMERICA AGAIN by Stephen Colbert, STRUCK BY LIGHTNING by Chris Colfer, THE PANTHER by Nelson DeMille, THE BLACK BOX by Michael Connelly, I FUNNY by James Patterson and Chris Grabenstein, WHO COULD THAT BE AT THIS HOUR? by Lemony Snicket, BACK TO BLOOD by Tom Wolfe, and CROSS ROADS by Paul Young.