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Digital sales double at S&S, international "booming"

Digital sales more than doubled at Simon & Schuster in its second-quarter but did not offset the decline in print. However, the publisher reported an increase in profits of 12% off the back of the shift to digital and strong international growth.

According to results issued by parent company CBS Corporation, publishing sales were down 3% to $183m (£112.2m), for the three months ending 30th June, while operating income before depreciation and amortisation was up 12% to $19m (£11.6m). The parent noted that the "strong growth in the sale of more profitable digital content was offset by lower print book sales", partly a result of the collapse of Borders US. Digital revenue accounted for 15% of total sales , though this was down from the 18% share in its first quarter.

It did not strip out results for the UK. However, according to Nielsen BookScan figures sales at Simon & Schuster UK were up 11% to £12.6m for the first half of 2011. S&S chief executive Carolyn Reidy told Publishers Marketplace that international was "really booming, led by the UK," with sales growth of 32%.

Reidy suggested the decline in marketshare of digital was a result of fewer purchases after the busy post-Christmas season when readers are loading up their new devices with content, and said the increased profits of digital were relative. She told PM: "I wouldn't say exactly that our margins are significantly better than before the world went through an economic cataclysm."

 

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the headline of digital sales 'booming' is an absolute farce - the word 'booming' suggests huge growth and profits. Yes it is a growth market but at what cost? A decline in total sales and profits is the cost of digital where the model is insufficient to support current activity - nevermind booming digital more like bloomin'digital!

Do you want to read that headline again Mr Publisher, taking note of the bit after the comma? Otherwise, agree entirely.

Ah, the weekly Big Boys Figure Massaging bulletin. Many thanks.

the headline of digital sales 'booming' is an absolute farce - the word 'booming' suggests huge growth and profits. Yes it is a growth market but at what cost? A decline in total sales and profits is the cost of digital where the model is insufficient to support current activity - nevermind booming digital more like bloomin'digital!

Do you want to read that headline again Mr Publisher, taking note of the bit after the comma? Otherwise, agree entirely.

Ah, the weekly Big Boys Figure Massaging bulletin. Many thanks.