From Digital Book World:
Revenue from e-books was up 106% at Penguin Group to £127.4 ($201.9) in 2011, driving profit company-wide up 8% while overall sales were relatively flat.
E-book sales represented 12% of all Penguin revenue worldwide in 2011; in the U.S., e-book sales accounted for more than 20% of Penguin’s revenue. While overall revenues at the company were up 1%, profits were up 8%, according to a statement from the company, suggesting that e-book sales deliver a higher profit margin.
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Another big-six publisher, Simon & Schuster, showed a similar pattern in its 2011 results. According to a February 15 statement, publishing revenues were relatively flat (down 1%) while operating income was up 31%. The company attributed the numbers to “strong growth in the sale of digital content, which more than doubled from 2010″ and offset declines in print.
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At Penguin’s parent company, Pearson, digital also drove profits. Digital revenues were up 18% in 2011 to £2 billion ($3.17 billion) and represented a third of all revenues at the company. Overall revenues were up 6% and operating profit was up 12% to £942 million.
The company expects that digital revenues will exceed revenues from print publishing in 2012, it said in a statement this morning.
Link to the rest at Digital Book World