Penguin Group eBook Sales Surge in 2011
Publisher Penguin has just announced its 2011 earnings. Sales were nearly $1.7 million, which is up 1% from 2010. Profits were up 8% to $179 million.
Who can we credit for this surge in sales and profits? Penguin Group’s eBook sales for books like The Help increased by five times. Also, authors Nora Roberts and Charlaine Harris each sold over a million eBooks. The press release states, “Our eBooks sold well across a wide range of genres and subjects, from romance and thrillers to literary fiction and serious nonfiction. The reach of eBooks has expanded; we recently sold our first eBook in Antarctica.”
Penguin Group CEO David Shanks had this to say, “Our eBook sales doubled, we expanded our digital publishing programs, and we won a Pulitzer Prize for the second year in a row. We had more bestsellers than we’ve ever had in a single year.”