From Publishers Marketplace:
Sales at Simon & Schuster rose 2 percent in their fiscal first quarter, up $3 million to $155 million. Adjusted OIBDA improved as well, more than doubling from $3 million last year to $7 million this time, and adjusted operating income rose similarly from $2 million to $5 million, helped by “lower shipping, production and returns costs from the significant increase in digital sales.”
eBooks comprised 17 percent of revenues worldwide (and thus were likely a higher percentage for the US alone) or more than $26 million, up from 7 percent a year ago. While Hachette Book Group said yesterday morning they expect first quarter US ebook sales of 22 percent to ebb somewhat to 15 percent to 20 percent for the full year, S&S ceo Carolyn Reidy believes that for her company “ebooks most likely will stay either at this percentage or more likely increase to year-end. Sales of ebooks have been strong and increasing and sales of physical books have been decreasing.” She added, “there has been a significant change in the market for each format, and I think that change is going to continue and accelerate as the year goes on.”
Link to the rest at Publishers Marketplace (may be behind paywall)
This is going to heighten interest by Big Publishing authors in their ebook royalty rates. At 17% of world-wide revenues and with physical books decreasing, the royalty reports will start showing the increased ebook sales and lower hardcopy numbers.
If Kristine Kathryn Rusch is correct about strange happenings with ebook sales on royalty reports, news of increased sales will bring that pot to a full boil.