Bertelsmann made a brief announcement of financial results for the first quarter, reporting overall sales of €4.3 billion ($4.67 billion), down 9 percent due to the company’s sale of their stake in Majorel. Organic growth was 3.6 percent. “Bertelsmann has gotten off to a good start in fiscal 2024, and is once again experiencing stronger growth from within,” chair and CEO Thomas Rabe said in a release. “We confirm our forecast for the current year.” At Penguin Random House—which was not among the businesses listed as the largest contributors in the quarter—top titles included Ashley Elston’s FIRST LIE WINS, which […]
Storytel Grows Earnings In Q1
Swedish audiobook company Storytel released results for the first quarter 2024, with sales up 12 percent to SEK891.9 million ($85.8 million). Operating loss improved to SEK24 million, compared to SEK48 million the previous year. EBITDA grew 50 percent to SEK50.9 million, which the company attributed to “strong streaming growth and a reduction of costs as a result of cost efficiency measures” (they reduced the workforce by 13 percent in the quarter). “The first quarter marked another step up in our financial performance as Storytel delivered a strong result with improved profitability and operational cash flow,” CEO Johannes Larcher said in […]
New Books Publishing May 7
This week’s fiction releases include new books by Colm Toibin, Jasper Fforde, and Renée Watson. Jen Psaki, Tom Selleck, Johann Hari, and Brittney Griner publish nonfiction works this week, while May’s YA releases include new novels by Samira Ahmed, Morgan Matson, and Anna-Marie McLemore. Also out this week are new books by Eve J. Chung, Mary Annaïse Heglar, and Emiko Jean, all excerpted in our Buzz Books 2024: Spring/Summer anthology. 44 works of fiction https://bookshop.org/lists/new-fiction-publishing-may-7 22 works of nonfiction https://bookshop.org/lists/new-nonfiction-publishing-may-7 24 children’s/YA titles https://bookshop.org/lists/may-2024-children-s-new-releases From Buzz Books https://buzz.publishersmarketplace.com/ We consult […]
People 5/6
PRH SVP, children’s sales and strategic market development Amanda Close will leave the company at the end of June.
S&S to Acquire Holland’s VBK, Furthering International Growth Strategy
Simon & Schuster has agreed to acquire VBK (Veen Bosch & Keuning), the largest publisher in the Netherlands, in an all-cash transaction. The deal is subject to regulatory approval in the Netherlands. This will be the first time S&S has owned a non-English language publisher, fulfilling its “long-cherished international ambitions.” In a memo to staff, S&S CEO Jonathan Karp wrote, “In the months since we became a standalone, independent publishing company, I have repeatedly stated that international publishing will be one of the key areas of growth for Simon & Schuster…. In joining with VBK, we believe that together we […]
People 5/3
Christopher King has joined Zando as art director. He was previously associate art director at Penguin Press.