The AAP released their StatShot data for November, with reporting publishers showing $792 million in trade sales, down 14 percent (or $133 million) from 2021. Adult sales were $551 million, a 13 percent decrease from $634 million the previous year. Almost the entire shortfall — $73 million — came from lower hardcover sales. Children’s sales declined 17 percent to $241 million, compared to $291 million in November 2021. Hardcovers were down over 24 percent to $87.9 million, and paperbacks declined 12.4 percent to $103.4 million. In digital formats, weakness in children’s sales left overall digital audio barely above flat at […]
Manhattan DA Warns S&S About Book From Trump Prosecutor
Manhattan District Attorney Alvin Bragg issued a letter on Wednesday to Simon & Schuster warning the publisher that the forthcoming book PEOPLE VS. DONALD TRUMP: AN INSIDE ACCOUNT by Mark Pomerantz, slated for publication on Feb. 7, could violate confidentiality rules and jeopardize continuing investigations of Trump. Pomerantz was a prosecutor in the criminal investigation of Trump brought by former DA Cy Vance in 2021. When Bragg eventually decided not to pursue an indictment in 2022, Pomerantz resigned in protest. The letter from the DA office’s general counsel Leslie Dubeck, which does not seek to block publication, asserts, “Mr. Pomerantz […]
The Book of the Year And Its Editor
Hernan Diaz’s ambitious second novel Trust (May 3, 2022, Editor: Sarah McGrath, Agent: Bill Clegg) topped “best of the year” lists and was the consensus Book of the Year according to PL’s comprehensive tabulation. Riverhead editor-in-chief Sarah McGrath talks to PM about the book that became everyone’s favorite of the year. Tell us about the acquisition process: Had Diaz’s first novel already been nominated for a Pulitzer when you received the submission for Trust? Did you get a full manuscript to read? What were your first impressions? By the time I read the manuscript for Trust I was already a serious Hernan Diaz fan. […]
Harper Union Discusses Bargaining, Pay, Union Security
As the Harper Collins union prepares to rally outside News Corp headquarters today, marking their 50th day on strike, union chair and senior production editor Laura Harshberger updated Hell Gate and spoke about what it means to have union protections. While the union has demanded an increase in starting pay from $45,000 to $50,000, the company’s proposal was to raise entry-level salaries to $46,500, Harshberger said, which has not been disclosed previously. The union also seeks to even out the wage compression that happened for higher jobs titles when Harper increased its starting pay to $45,000 in 2021. Harshberger also […]
WH Smith Gains in Airport Stores, As High Street Still Slides Further
WH Smith released a trading report for the 20 weeks ended January 14, with sales up 41 percent over last year and 20 percent over 2019, driven by the continuing recovery in their travel stores. High Street sales, however, continued their long fade; revenues were down 2 percent from 2022, and 14 percent from 2019, which the company called as ever “a good performance, in line with our expectations.” Sales in the Travel segment were up 77 percent over last year and 48 percent from 2019. The company has opened 40 new stores so far this year, with 37 set […]
Pearson to Cut Costs in 2023, Focused on Higher Ed
Pearson released a brief trading update for the fourth quarter and full year 2022, ahead of their full results for the year on March 3. “Underlying” sales were down 1 percent for the quarter but up 5 percent for the year, and adjusted operating profit for the year was up 11 percent to £455 million. The company saw growth for the year in all segments except for Higher Education, which dropped 4 percent, at approximately £900 million, “an expected, albeit reduced, decline.” There, the company restructured the sales team and refocused sales and marketing and invested in modernizing their products. […]