Simon & Schuster was founded in New York City in 1924 by Richard L. Simon and M. Lincoln ("Max") Schuster. Since 2006, Simon & Schuster is the trade publishing division of the CBS Corporation, and publishes and distributes consumer books under imprints such as Simon & Schuster, Scribner, Atria, Touchstone, Gallery Books, Pocket Books, Howard Books, Threshold Editions, and Free Press. Major children’s imprints include Simon & Schuster Books for Young Readers, Atheneum Books for Young Readers, Simon Pulse, Aladdin, Little Simon, Beach Lane Books, Margaret K. McElderry Books, Paula Wiseman Books, Caitlyn Dlouhy Books, and Simon Spotlight.
The group publishes over 2,000 titles annually under 35 different imprints. It has publishing and distribution capabilities in the US, Canada, the UK and Australia, as well as an international sales presence in every major market. A new international company, Simon & Schuster India, was launched in 2011.
Analysis & Key Developments
During 2017, Simon & Schuster contributed 6% to consolidated revenues for CBS. Overall the publishing segment generated revenues of 830 million USD in 2017 (2016: 767 million USD). The 8% increase in revenues reflects higher print book sales and 39% growth in digital audio sales. Moreover, Simon & Schuster generated 132 million USD in operating income, the 11% increase reflects the revenue growth. Carolyn Reidy (President & CEO) stated that 2017 was a great and satisfying year for the company. “For the full year every single division was up,” Reidy said, with everything but the children’s division “up significantly.”
In November 2017, Simon & Schuster announced a new leadership team for its sales division, promoting longtime sales executives Gary Urda to Senior Vice President, Sales, and Colin Shields to Vice President, Executive Director of Global Digital and International Sales.
Also in November 2017, Michael Perlman has been named Vice President, General Manager of Simon & Schuster Publisher Services. In this position, Perlman will be responsible for directing all services for existing publisher clients of Simon & Schuster and for identifying and developing relationships with new clients.
In December 2017, Simon & Schuster entered into a sales and distribution agreement with Galvanized Media, a lifestyle brand founded by author, fitness and health expert, editor, television personality and media entrepreneur David Zinczenko.
In October 2017, the company entered into a new sales and distribution agreement with Printers Row Publishing Group, a division of Readerlink Distribution Services, LLC (“PRPG”), expanding upon a previous relationship to distribute additional PRPG imprints within the United States and Canada. Also in October, Simon & Schuster signed into a sales and distribution agreement with Oni Press, a comic book and graphic novel publisher based in Portland, Oregon.
In July 2017, Atria Books, an imprint of Simon & Schuster, Inc., and Skybound Entertainment, the multi-platform entertainment company responsible for such television hits as The Walking Dead, Fear the Walking Dead and Outcast announced a new co-publishing imprint, Skybound Books, which will focus on science fiction, fantasy and horror properties.
Also in July 2017, Simon & Schuster entered into a sales and distribution agreement with IglooBooks, a recently launched division of Bonnier Publishing USA.
Simon & Schuster has publishing and distribution capabilities in the US, Canada, the UK, Australia and India. Moreover the company is able to distribute its titles in physical and digital editions in more than 200 countries and territories around the world.
In 2017, the sale of digital content represented approximately 22%, or 186 million USD, of Simon & Schuster’s revenues. According to Carolyn Reidy (President & CEO), digital revenues were driven by audio, while e-book sales dropped. She further stated that the company is expecting them to stabilize in 2017 and that they "were surprised to see a decline in e-book sales."
In 2017, Simon & Schuster published 195 New York Times bestsellers in hardcover, paperback and electronic formats, collectively, including 30 New York Times #1 bestsellers. Bestselling titles in 2017 include What Happened by Hillary Rodham Clinton, Sleeping Beauties by Stephen King and Owen King, and Leonardo DaVinci by Walter Isaacson. Bestselling children’s titles include Dork Diaries 12: Tales from a Not-So-Secret Crush Catastrophe by Rachel Renée Russell, Lord of Shadows by Cassandra Clare, and It Takes a Village by Hillary Rodham Clinton.