Digital at 29% for S&S in second quarter

Digital at 29% for S&S in second quarter

Simon & Schuster worldwide increased digital book sales by 39% in the second quarter to take digital to 29% of sales at the company.

S&S’s US parent company CBS Corporation released its second quarter results last night (31st July), showing digital sales up from 21% in the second quarter of 2012 to 29%.

In all, publishing revenues were flat from the year before at $189m, as the company admitted the growth in digital book sales was offset by lower print book sales.

Operating income was $20m, up from $7m in the same quarter a year earlier, with earnings benefiting from the absence of legal fees incurred last year tied to the Department of Justice e-book investigation as well as higher sales of more profitable digital sales.

The company highlighted two titles as performing particularly well in the period: Happy, Happy, Happy by Phil Robertson and City of Bones by Cassandra Clare.

The CBS Corporation achieved revenues of $3.7 bn in the quarter, up 11% form last year. Leslie Moonves, president and c.e.o of the CBS Corporation, said: “Double-digit revenue growth—and the best quarterly profits we've ever had—add up to a phenomenal quarter for CBS.” He added: “Looking ahead, the opportunities to monetize our content are more exciting than ever.”