Our sibling blog GalleyCat covered Simon & Schuster’s first quarter report today, noting that digital books are booming business at the conglomerate publisher.
Here’s an excerpt: “Digital publishing revenue jumped from $3.6 million to $12 million in the first quarter of this year, growing 233 percent. According to a paidContent story, this means “digital now makes up 7.9 percent of S&S revenue.” In addition to e-books, this is the result of higher sales in audio downloads and standalone apps. Overall, Simon & Schuster’s revenue was down 6 percent.”
What do you think? Will these rising eBook sales ultimately stabilize or destabilize the big publishing houses?