Paramount Global reported first quarter 2022 results on Tuesday morning, with sales at Simon & Schuster of $217 million, up $32 million or 17 percent. The company recorded operating income of $50 million, up significantly over $27 million a year ago. In a memo to staff, ceo Jonathan Karp attributed the continued growth to “the strength of our backlist, favorable returns projections, and the BookTok phenomenon.” He said that, “All of our publishing groups, nationally and internationally, and our distribution client business had double-digit growth.” With those tailwinds Simon & Schuster outperformed the industry, which has been reckoning with very […]
