Quarto announced results for 2022, with sales of $141 million, down 7 percent from $151.5 million in 2021, attributing the loss to a downturn in consumer spending and a contraction in the book market. Even so, operating profit was up 32 percent to $21.1 million, which the company credits to “nimble publishing maximizing opportunities which […]
PRH Grows Topline on Strong Dollar, As Profits and Organic Sales Fall
Bertelsmann announced results for the full year 2022, and while the parent company’s sales grew 8.3 percent to a record of €20.2 billion, sales at Penguin Random House rose 4.8 percent (or €193 million) to €4.223 billion—below the target for the year and “largely due to exchange rate effects,” especially the strong US dollar. Organically, […]
Storytel Acquires Finnish Audiobook Streaming Business
Swedish audiobook company Storytel has acquired the audiobook streaming arm of Finnish bookstore chain Suomalainen Kirjakauppa, which is owned by the Otava Group. Subscribers to the audiobook business, Suomalainen Plus, will be merged into Storytel’s user base. Storytel ceo Johannes Larcher said, “This agreement strengthens Storytel’s position in the vibrant Finnish market and as the […]
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Forthcoming: THE FIRM Sequel
On October 17, Doubleday will publish THE EXCHANGE: After The Firm, a sequel to John Grisham’s bestselling 1991 thriller The Firm. The book takes place 15 years after the first novel, and the publisher’s description reads, “When a mentor in Rome asks him for a favor that will take him far from home, Mitch finds […]