S&S sales increase 2% in third quarter

S&S sales increase 2% in third quarter

Global sales at Simon & Schuster increased 2% to $203m (£131m) in the third quarter, helped by continued sales of the 2014 Pultizer prize-winning novel All the Light We Cannot See.

S&S’s parent company CBS has released its third quarter results for 2015, which reveal publishing revenues grew 2% to $203m (£131m) up from $199m (£128m) for the same period a year earlier.

Bestselling US titles for the period included The Survivor by Vince Flynn and Kyle Mills, Plunder and Deceit by Mark R. Levin and continued sales of the Pulitzer Prize-winning 2014 release, All the Light We Cannot See by Anthony Doerr, the company said.

Digital revenues represented 25% of Simon & Schuster’s total revenues for the third quarter of 2015.

S&S c.e.o Carolyn Reidy told Publishers Lunch: "I think that (digital) market is kind of settling down to some degree and we're seeing a shakeout of people who prefer to read digitally. That could of course reverse again.”

OBITDA at the company was  $42m (£27.2m) in the third quarter, up $1m (£0.65m) from the previous year.