Wednesday, November 9, 2011
Sales up, profits down
Hachette Book Group reports that eBook sales are up 134%
And net sales are down 5.2%
To elaborate: Lagardère’s global publishing division, the company that owns the Hachette Book Group, reported €601 million in net sales for the third quarter of 2011, which was down 5.2 percent compared to the same period in 2010.
Yet they sold thousands more eBooks than the year before. So how did that dip in profit come about?
Because eBooks are cheaper than print books, of course.
Read more from Dianna Dilworth at GalleyCat.