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Wednesday, May 4, 2011

Don't Feel Sorry for Lagardere Publishing (U.S. subsidiary, Hachette Book Group)

Lagardere Publishing's earnings fell to 390 million euros in the first quarter! Damn, how in the hell will they ever get by?

They apparently lost about 10% over this time last year due to a particular popular book series (Twilight) that came to the end of a good run.

Well, Lagardere, go get another good series to publish! I would suggest to you that there are plenty of great content just waiting to be picked up floating around out there in the new digital atmosphere...It has never been more accessible!

This from Publishers Weekly (Financial Reporting Division):

Sales at Lagardere Publishing fell approximately 10% in the first quarter to 390 million euros. The company attributed the decline to tough comparisons to last year’s first quarter in which the Twilight Saga titles were still experiencing strong sales, particularly in the U.S. Somewhat offsetting the decline of Twilight in Lagardere’s U.S. subsidiary, Hachette Book Group, was an 88% rise in e-book sales and e-book sales accounted for 22% of revenue at HBG in the quarter. E-book sales are expected to remain strong for the year, although growth will slow slightly and account for 15% to 20% of revenue at HBG for the full year.

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