Simon & Schuster announced their first quarter results today and their digital division has seen growth by almost 64%. The fast growing segment of ebooks now accounts for over 26% of their entire revenue stream.
Publishing revenues for the first quarter of 2012 increased 14% to $176 million from $155 million for the same prior-year period, reflecting strong growth in the sales of more profitable digital content as well as higher print book sales. Kill Shot by Vince Flynn and Lone Wolf by Jodi Picoult included some of the bestselling titles that helped digital sales grow. The first quarter of 2012 also benefited from the continued success of fourth quarter releases Steve Jobs by Walter Isaacson and 11/22/63 by Stephen King.
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about audiobooks and e-readers for the past ten years. His articles have been picked up by major and local news sources and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times.