An energized crowd of bibliophiles gathered at The New York Times Center on 42nd Street for the unveiling of the annual Best 10 Books list. Pamela Paul, editor of The New York Times Book Review, moderated a panel of Times editors and reviewers assembled to discuss their selections. This year’s list features the rare science fiction selection in Ted Chiang’s short-story collection Exhalation. (Three fiction selections are from Knopf and a fourth from Doubleday.) Fiction: Disappearing Earth, by Julia Phillips The Topeka School, by Ben Lerner (a Buzz Books 2019 selection) Exhalation, by Ted Chiang Lost Children Archive, by Valeria […]
AAP September StatShot Shows Small Gains
AAP released its monthly StatShot for September, showing small gains in both adult and children’s books, based on data from 1,362 publishers. However, the adult sales figures from last year’s report were revised once again, making comparison less valuable. On balance, adult sales were about $6.5 million below the recent four-year average, and children’s sales were almost $14 million above the recent three-year average. Total adult trade sales for September were $479.3 million, compared to a final figure of $463.1 million for last September. But a year ago, September adult sales were initially reported to be $482 million. As has […]
Q3 Sales and Income Down at McGraw-Hill, Despite Digital Growth
McGraw-Hill reported earnings for the period ending September 30, with sales of $542.6 million, down from $552.1 million. Net income also fell slightly, down $2.2 million to $53.4 million. Meanwhile, the company’s preferred, non-GAAP measure of profit, adjusted EBITDA, was up slightly, to $371.7 million from $368.2 million. Higher ed sales of $189 million were down $12 million, while K-12 sales of $252 million rose by $11 million compared to a year ago. Despite lackluster overall results, the company reported strong sales growth for its “Inclusive Access” program and other digital offerings (entirely offset, nonetheless, by contraction in print sales […]
Not a Good Quarter for Cengage
Educational publisher Cengage — hoping to merge soon with McGraw-Hill if the DOJ approves the plan — continues to struggle while waiting, with revenue falling $63.9 million, down to $410.4 million, in the fiscal second quarter, ending September 30. Net income was $11.5 million, down from $34.4 million. After adjusting for currency exchange, income was even lower, down to $6.5 million from $32.7 million. The company started yet another restructuring during the quarter, “in its Learning segment to streamline operations,” which it says will allow it to make good on its full-year profit forecast. This follows an earlier, now “fully […]
Simon & Schuster Sales Down While Profit Gains Continue
Sales at Simon & Schuster dropped in the third quarter of 2019 to $217 million, down $23 million from a year ago (or 9.6 percent). Operating income rose again despite the lower sales, up $1 million to $52 million — marking the 19th consecutive quarter of profit growth — primarily due to “lower production costs from the mix of titles.” In the press release, the company said the sales decline was mainly driven by lower print book sales, due to the comparison to last year’s record-breaking release of Fear: Trump in the White House by Bob Woodward. (Two years ago […]
Lawsuit Against Media Men List Creator Hits a Wall
Stephen Elliott’s lawsuit against Media Men list creator Moira Donegan appears to be on life support, after Magistrate Judge Sanket Bulsara denied his request to order defendant Moira Donegan to unmask the Jane Does who Elliott claims defamed him — info she has already said she doesn’t have. Judge Bulsara said that there was no cause, given that there was already a fully briefed motion, as well as an amended complaint, ready for Judge Lashann DeArcy Hall to rule on. Even if Donegan was served discovery, Judge Bulsara said, there was little reason to think she would produce the same […]