News Corp. reported fiscal third quarter results after the close of the market on Thursday, with HarperCollins recorded sales of $490 million, up 19 percent from $412 million a year ago. That sales total included $8 million from recent acquisitions and $10 million in foreign exchange gains. Earnings rose more, up 45 percent to $80 million, compared to $55 million a year ago. The gains were driven “by the success of numerous backlist titles, including the Bridgerton series” by Julia Quinn following the success of the Netflix adaptation. Sales were also helped by “faster digital growth.” Digital sales were up […]
Sales and Earnings Rise at Simon & Schuster
ViacomCBS reported first quarter 2021 results on Thursday morning, with sales at Simon & Schuster of $185 million — up $15 million, or 8.8 percent, versus the same period a year ago. With the parent company classifying S&S under “discontinued operations” while the pending sale to Penguin Random House awaits regulatory review and approval, ViacomCBS has changed the way they report the publisher’s earnings, showing operating income before other items of $27 million. The publisher says operating income was up 80 percent for the quarter, and compares to $15 million a year ago. Simon & Schuster ceo Jonathan Karp said, […]
More Financial Updates, from Bertelsmann and Lagardere
Alongside more detailed corporate reporting elsewhere, Bertelsmann issued a brief first quarter trading update on Thursday, with revenues of €4.2 billion, versus €4.1 billion a year ago. Penguin Random House was among the three divisions that “delivered particularly strong performances” and “double-digit organic growth rates. (Note that topline growth at the company was far lower than the estimated “organic” growth, suggesting that foreign exchange weighed on results.) Separately, Penguin Random House Grupo Editorial announced an agreement to acquire Spanish-language children’s and YA imprints Molino and Serres, along with Catalan-language imprint, La Magrana, from the RBA Group close once the relevant […]
Today at Noon: Agent and Attorney Salky in the Discuss Forum
Join agent and attorney Jesseca Salky online at PM today at noon Eastern, the latest guest on our forum Discuss, to ask questions about legal issues that face authors and agents. The discussion will happen at this link. A reminder that these are straightforward typed message board conversations. No cameras, no sound, no zooming, no separate apps required. Use the “reply” button to type your questions or comments, and Jesseca will post back.
Book Excerpt: Book Wars
This spring has brought two historical works of interest and value to the publishing community. Recently we excerpted two pieces from THE FAMILY BUSINESS, marking the 50th anniversary of Ingram Content Group. Today we are pleased to share a pre-publication extract from John B. Thompson’s excellent BOOK WARS, which publishes in the US next Tuesday. Author of the equally essential Merchants of Culture, Thompson is a professor of sociology at the University of Cambridge, whose specialties include studying the publishing business. Book Wars is a detailed account of the digital transition in trade publishing, covering everything from the major developments […]
Discuss at Noon Today with Literary Agent Vicky Bijur
A reminder that longtime literary agent Vicky Bijur (Vicky Bijur Literary Agency) joins us today at noon Eastern as our next weekly AMA guest on the PM forum Discuss. The discussion will happen at this link. A reminder that these are straightforward typed message board conversations. No cameras, no sound, no zooming, no separate apps required. Use the “reply” button to type your questions or comments, and Vicky will post back.