HarperCollins has just released their financial results and the publisher has reported that e-books represented 20% of their revenue, which amounted to $82 million. Last year, in the exact same quarter e-books accounted for 22% of their revenue and generated $89 million.
Profits are actually up 1% at HarperCollins, despite e-book sales falling a few percentage points. This means what they lost selling overpriced digital content they made up for selling hardcovers and paperbacks. They specifically mention Go Set a Watchman as being the biggest success they had during the reporting period.
HarperCollins is not the only publisher to report sagging e-book revenues. Simon & Schuster also reported that e-books only accounted 20.4% of their total revenue down from 25.1% in the same quarter last year.