In a recent earnings report, one major publisher noted rising eBook sales are diminishing net sales.
The Hachette Book Group reported today that the company’s net sales for the fourth quarter 2012 were down 5.7 percent. The company’s net sales dropped 3.4 percent for the entire year of 2012. The increase in eBook sales drove net sales down, as eBooks bring in less revenue, the company explained in a press release. Despite the drop in net sales, volume sales were up 1.2 percent for the year. HBG’s net sales from eBooks and audio products totaled 26 percent of overall revenue in 2012, up from 23 percent in 2011. The publisher also had seventy-one titles reach the New York Times eBook bestseller chart last year.