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.
Revenue at HBG was also hurt by softer rights income in the quarter. HBG’s bestsellers in the quarter included Tick Tock, The Inner Circle, Gideon’s’ Sword and Cleopatra.
E-book sales are also beginning to gain traction in the U.K. and Lagardere said e-book sales could account for 5% to 10% of revenue there this year.
