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Digital revenues up 64% for S&S US
03.05.12 | Lisa Campbell
Digital revenues for Simon & Schuster US climbed 64% in the first quarter of the year, while print sales also rose.
In S&S’ parent company CBS Corporation’s financial results for the first quarter to 31st March 2012, the company said publishing revenues increased 14% to $176m from $155m for the same period last year.
S&S attributed the hike in sales to its digital publishing arm, which represented 26% of the company’s total revenues, its “highest to date” according to the publisher. S&S US also increased its sales of print books; the company said operating income before depreciation and amortization (OIBDA) increased 43% to $10m from $7m for the same period the year before.
“Bestselling titles in the first quarter included Kill Shot by Vince Flynn and Lone Wolf by Jodi Picoult. 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,” CBS Corporation's statement said.
Overall, CBS Corporation reported revenues of $3.9bn, up 12% year-on-year, while OIBDA was $773 million, up 34%.