Pearson Sees Digital Income Beating Print Publishing In 2012
By Robert Andrews
Pearson’s digital revenue grew 18 percent to £2 ($3.17) billion (a third of the total) through 2011, as its book publisher Penguin’s e-book sales rose 106 percent and the group reached 43 million students through digital learning services.Now Pearson (NYSE: PSO) forecasts: “Revenues from digital and services businesses (are) expected to exceed revenues from traditional publishing businesses in 2012.”
Pearson-owned Penguin on Monday reported it has sold 50 million apps and e-book since 2008. E-books now make up 12 percent of its global (£125.4 ($198.3) million) and a fifth of its U.S. sales. “We expect this percentage to increase significantly again in 2012,” the publisher said.