Penguin Reports 6.7 Percent Worldwide Revenue Increase
Even though worldwide sales dropped at three of the US's five largest publishers during 2008, the top five were still profitable worldwide. Most dramatically, Penguin Group USA posted increased revenues--bolstering the company's worldwide performance.
Publishers Weekly reports that the top five American trade publishers--Random House, Penguin Group USA, HarperCollins, Hachette Book Group, and Simon & Schuster--collectively earned $4.60 billion in revenue last year.
Here's an excerpt from the article: "The U.S. represented 50.8% of Random House's total sales last year, down from 53% in 2007. Penguin Group USA had just the opposite effect on Penguin Group's total 2008 performance. The U.S. division, estimated to represent about 65% of worldwide Penguin revenue, had strong gains in 2008, helping to drive worldwide revenue ahead by 6.7%."