Simon & Schuster is experiencing massive growth with e-books and audiobooks, more than any other publisher.
Digital revenues represented 31% of S&S’s total revenues for the first quarter of 2015. S&S CEO Carolyn Reidy said that while sales of e-books rose by one percentage point in the quarter, sales of digital audio had a huge quarter driven by sales of both new and backlist books. She also noted that with the rise in e-book sales in the quarter, e-books accounted for about 26.3% of all revenue, higher than any share the format represented in 2014.
Meanwhile at HarperCollins digital only accounts for 22% of their revenue, down 3%. Other publishers such as Penguin/Random House did not mention e-books during their recent quarterly earnings, which makes me worried.
Digital books and audiobooks seemed to have plateaued and we ware certainly not seeing the explosive growth from only a few years ago. Basically the people who want to read e-books already are and the people who aren’t, are still buying print. There is little crossover between the two book types and this trend will continue into the foreseeable future.