Swedish audiobook subscription service Storytel announced earnings for the third quarter ended September 30, with net sales of SEK609 million ($70.6 million), up from SEK491 million in last year’s period. Streaming sales were SEK490 million, up from SEK 399 million, or 23 percent. The company averaged 1.36 million paying subscribers in the quarter, up 34 percent from 1.014 million. Both streaming sales and subscribers exceeded the company’s forecasts for the quarter. The company also announced positive EBITDA for the first ime, of SEK7 million, but cautions that it was due to an accounting change and won’t be a trend: “since […]
Archives for November 2020
European Commission Accuses Amazon of Breaching EU Antitrust Rules
Though months later than expected, the European Commission taken another step forward in their antitrust investigations of Amazon, expressing a “preliminary view that it has breached EU antitrust rules,” set out in a statement of objections. At the same time, the EC opened a second antitrust investigation against the etailer. Building on preliminary fact-finding from over a year ago, the EC charges “the abuse of a dominant market position.” They found that Amazon uses “very large quantities” of proprietary data about Marketplace sellers who use their platform in order to compete with them directly. Which is therefore not competition at all, […]
People, Etc.
Jenny Chen will join Ballantine Bantam Dell as a senior editor on November 16, reporting to Jennifer Hershey. She was at Crooked Lane Books.. At Hachette Nashville, Sean McGowan has joined as editor, acquiring for Center Street, Faith Words, and Worthy. India Hunter has joined as associate editor, acquiring for Faith Words and Worthy. At Brower Literary & Management, Aimee Ashcraft has been promoted to literary agent and Anna Atoria to associate subrights agent. Zoila Peña has been promoted to assistant manager of customer service for all Workman Publishing imprints. Imprints goop Press will try again, this time through Rodale Books. The magazine […]
People, Etc.: A New Penguin Random House Español Division, and More
Penguin Random House is creating a new Penguin Random House Español division as of January 1 that will bring together Miami-based Penguin Random House Grupo Editorial USA with the New York-based Vintage Español, announced Monday by PRH US ceo Madeline McIntosh. Silvia Matute will serve as president of the new division, out of Miami, continuing to report to Roberto Banchik at Penguin Random House Grupo Editorial. Vintage Español team members will remain based in New York and report to Matute effective immediately, and Vintage Español publishing director Cristobal Pera will “move on…later in the new year” after advising throughout the […]
Houghton Mifflin Harcourt’s Biggest Investor Wants Out
In stark contrast to the company’s official happy talk about selling off their heritage by disposing of the trade division and positioning a struggling textbook publisher as a “pure-play learning technology company,” Houghton Mifflin Harcourt’s biggest investor indicated that they have had enough. Anchore Advisors, the largest shareholder with just under 16 percent of shares, filed a form with the SEC indicating that they want to sell. The investment firm — whose senior portfolio manager Daniel Allen sits on the HMH board — and HMH have terminated an investor rights agreement that dates back to 2012 and “Anchorage has requested […]
People
At Atria, Lisa Sciambra has been promoted to director of publicity; Dana Trocker is now associate publisher; and Suzanne Donahue takes the new role of vp, director of backlist marketing, with all three reporting to publisher Libby McGuire. Additionally, Megan Rudloff has been promoted to publicist. At Random House Children’s, Lauren Adams has been promoted to assistant director, brands and proprietary marketing.