Profits Rose 32% in 2013 at S&S
Operating income at Simon & Schuster grew to $106 million in 2013, up 32% over 2012, on sales of $809 million (a year-over-year sales increase of 2.4%), parent company CBS reported. With digital sales up 22% and a solid print performance, S&S had a record profit in the year.
HBG’s 2013 Sales up 6%
Driven by a solid fourth quarter and good sales for the year in the U.S., Lagardere reported sales of €2.07 billion in its publishing division for 2013, down from €2.08 billion in 2012; excluding the impact of foreign currency fluctuations, total sales rose 1.9% last year. At Hachette Book Group, 2013 revenue was up 6%, led by a strong lineup of titles. HBG’s e-book sales did well in the U.S., up 33% in the year, largely due to increased sales of its top-selling titles. Digital sales accounted for 33% of HBG revenue in 2013, compared to 26% the prior year.
Open Road Acquires E-Reads
In a deal that brings together one of the oldest independent e-book publishers with one of the largest, Open Road Integrated Media has signed an agreement to acquire E-Reads, the digital publisher founded by Richard Curtis in 1999. The purchase, which is set to close April 1, will add more than 1,200 e-books to Open Road’s list. Following completion of the deal, Open Road will publish and distribute the titles through its own platform and the E-Reads Web site will be taken down.
B&N Makes Cuts, Still Committed to Nook
On Feb. 10, Barnes & Noble acknowledged it has cut jobs throughout the company but insisted that a report on the Business Insider Web site indicating that it had laid off its entire Nook hardware staff was “incorrect,” with a spokesperson adding that B&N remains committed to offering Nook products.
DreamWorks Takes Publishing In-house
DreamWorks Animation is launching DreamWorks Press as an internal umbrella for digital and print books. DreamWorks will oversee content and production for the imprint’s titles, while Publishers Group West, part of Perseus, will handle sales and distribution.