Random House Group UK managing director, Gail Rebuck has said the rules of "agent, publisher and retailer are being rewritten", and revealed that e-books now account for around 11% of RHG's total net sales.
In a year-end letter to staff, Rebuck said that the group should finish 2011 ahead of internal targets despite a year characterised by a "turbulent economy", and with the "struggling High Street, particularly in Australia with the collapse of The Red Group".
She also said 2011 would be looked back on as "a time of significant digital-led change" with the publishing industry in transition. She added: "Traditional business models are in flux and new, exciting ways of doing things are coming into focus while the roles of agent, publisher and retailer are being rewritten," creating "opportunities for those who are ready to embrace and lead change".
Looking to 2012, she said: "Increasingly, direct consumer engagement will play a pivotal role in our campaigns as online discoverability and recommendation become ever more crucial to the future success of our books."
Rebuck said e-book sales values were up more than 500% on 2010.