Hachette eBook Sales Double to 21% Despite Overall Decline in USA Revenue
The French media group Lagardère has released some details about their quarterly revenues, and the numbers for the book market are not looking too optimistic.
Compared to 2010, sales for Lagardère Publishing (formerly Hachette Livre) dropped by a full 5 percent, down to 601 million euros. The decrease in the US and UK is even more pronounced, at 8 percent and 10 percent respectively.
The decline in revenue at the US branch, Hachette Book Group, is attributed to lower eBook prices and the closure of the Borders bookstore chain. Simon & Schuster’s CEO had already cited the Borders closure as a contributing factor to the decline in traditional book sales.
Despite the drop in revenue, eBook sales at Hachette have increased and now account for 21 percent of total revenue in the first three quarters of 2011. The previous year, the share was only 9 percent—meaning eBook sales have roughly doubled in a year, similar to the trend seen at Penguin and Simon & Schuster.
In the UK, the situation isn’t as positive. The loss in sales hasn’t been offset by eBooks. There, the share of total sales is only 9 percent. This shouldn’t come as a big surprise, as the UK eBook market is not nearly as strong in terms of revenue as it is in the US.
