A survey published this month by Booknet Canada found that Canadians prefer reading books in print. It also found that more are opting to do their reading on smartphones, or listen to audiobooks. The results of the survey, which come from 750 respondents, found that 90% of respondents that had read a book in the last year had read a print book. However, 22% of respondents ranked reading last among a string of leisure activities that include browsing the Internet (33%), spending time with family (32%), watching TV (31%) and going to the movies (23%). BookNet Canada, a nonprofit book industry research organization, reported that 82% of respondents said they had read a book in the last year, about the same percentage as its 2016 survey found. The number of respondents who had read at least one book during the past year has been declining since 2014 though, when 88% of respondents reported reading at least one book. Click Read More below for more of the story.
Increases in sales of e-books and digital audiobooks and higher online sales helped to cushion the financial impact of the Covid-19 pandemic at Penguin Random House, parent company Bertelsmann reported this morning. Total revenue in the first half of 2020 fell 1.4% at PRH from the comparable period a year ago, dropping to €1.63 billion. EBITDA (earnings before interest, taxes, depreciation, and amortization) fell 7.9%, to €209 million. In April, Bertelsmann also acquired the remaining 25% stake in PRH that had been held by Pearson.
The U.S. had the best performance among PRH’s international companies, with sales rising 5.2%, to €990 million. “The coronavirus pandemic had a negative impact on the company’s businesses due to the extensive closures of local bookstores,” Bertelsmann reported. “In contrast, the US business demonstrated particular resilience, partially offsetting reductions in other countries.”
more at source: https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/84238-first-half-sales-slipped-1-4-at-prh.html