Random House Reports “Major Increases in Revenues and Profits”

By Jason Boog Comment

RH_Logo_Sm.jpg Bertelsmann–the corporate parent of Random House–released a positive financial report for the first half of 2010.

The report singled out Random House as a particularly successful arm of the company: “despite difficult market conditions, [Random House] significantly increased its first-half 2010 sales and operating EBIT, driven by major increases in revenues and profits from its U.S. division and rapidly rising digital sales.” In his memo about the results, Random House CEO Markus Dohle dedicated an entire paragraph to Stieg Larsson–calling the author “a cultural and commercial phenomenon.”

Here’s an excerpt from the memo, but the entire text is embedded below: “In the past half year we have really embraced digital transition throughout our companies, replacing anxieties about the format with forward thinking and with well-executed action. For this fiscal year, Random House worldwide digital sales are well on course to exceed $100 million. As our e-book sales accelerate in North America, the U.K., and Germany–and will soon start up in Spain and Latin America–we are rapidly growing our e-book publishing programs, adding newly published titles and longtime Random House authors weekly, experimenting with apps and other innovative digital formats, and implementing new digital/online marketing approaches.”