Days after House of Flame and Shadow by Sarah J. Maas debuted in the number one spot on PW’s bestseller list, selling more than 361,000 copies at outlets that report to Circana BookScan, her publisher, Bloomsbury, raised its sales and earning expectations for the fiscal year ending February 29, 2024.
The company said it now expects revenue to be £291.4 million, and profit before taxation and highlighted items to reach £37.2 million. In fiscal 2023, Bloomsbury posted sales of £264.1 million and profits of £31.1 million. In upping its forecast, the U.K.-based publisher cited the “exceptional growth” of its consumer division driven by House of Flame and Shadow, which reached number one in a number of markets around the world. It also said that sales of the book also increased demand for the author's other titles. (In the U.S., two other Maas titles, A Court of Thorns and Roses and A Court of Mist and Fury were on PW’s top 10 list). To date, Bloomsbury has published 15 Maas titles and has signed Maas for six additional titles.
Noting Nielsen BookScan's report that sales in the fantasy/sci-fi genre have increased by 54% over the last five years in the U.K., Bloomsbury said it has invested heavily in the genre.
“I am overjoyed to report an exceptionally strong period of trading, principally driven by the increasing demand for fantasy fiction," said Bloomsbury chief executive Nigel Newton in a prepared statement. "Sarah J. Maas is a publishing phenomenon and we are very fortunate to have signed her up with her first book 13 years ago."
Bloomsbury, which generated 48% of its revenue in the U.S. last year, will release preliminary results for fiscal 2024 on May 23.
