Sales, Earnings Drop at Scholastic
With sales of the Hunger Games trilogy down significantly, Scholastic reported that total revenue for the fiscal year ended May 31 fell 19.4%, to $1.79 billion, and net income dropped to $31.1 million from $102.4 million in fiscal 2012. Revenue fell in four of Scholastic’s five operating groups, including the children’s book publishing and distribution arm, where sales fell 24%, to $846.9 million. The largest decline came in the trade segment (home to Hunger Games), where revenue tumbled 54%, to $182.7 million.
‘Cuckoo’s Calling’ Gets 300K Print Run
The Cuckoo’s Calling, a mystery by an unknown British author, which became one of the most talked-about books in the country over last weekend, is getting a new print run. After the Sunday Times revealed that the book was written under a pseudonym by J.K. Rowling, booksellers started taking orders for a title none had in stock. Rowling’s U.S. publisher, Mulholland Books, has said it will go back to press for another 300,000 copies.
May Bookstore Sales Fell 1%
Bookstore sales fell 1.0% in May, to $953 million, according to preliminary estimates released last week by the U.S. Census Bureau. May was the second consecutive month that bookstore sales declined. For the first five months of 2013, bookstore sales were nearly flat with 2012, up 0.2%, to $5.24 billion.
Chapman Made Publisher of S&S UK
President and CEO of S&S Carolyn Reidy announced that Ian Chapman has been promoted to chief executive and publisher, S&S UK and International. Chapman joined the company in 2000 as managing director and CEO, and since 2010 has overseen S&S Australia and, in 2011, added S&S India to his purview.
Books-A-Million To Install Two Book Machines
Books-A-Million is getting in the print-on-demand business with the Espresso Book Machine from On Demand Books. One EBM is slated to go into its Portland, Maine, store; a second will be added to a location still to be announced.
Inkling Signs Deals with Pearson, Elsevier; Raises $16M in Funding
The multimedia software developer Inkling has reached agreements with Pearson and Elsevier to create “next generation” digital educational content using its Habitat authoring tool, in addition to securing $16 million in funding from Sequoia Capital’s Growth.
Viz Media Debuts Children’s Imprint
Looking to add formats, genres, and new content to its list, manga publisher Viz Media is relaunching its VizKids imprint and renaming it Perfect Square, with plans to start a comprehensive children’s publishing program.
Campaign for Reader Privacy Renews Call to Amend Patriot Act
The Campaign for Reader Privacy released a statement Wednesday calling on Congress to “pass legislation to restore privacy protections for bookstore and library records that were stripped by the Patriot Act.” In their statement, the group writes that what “law-abiding Americans are reading is nobody’s business.”
Anfuso to Join Crown Archetype
Dominick Anfuso, former editorial director at Free Press, will join Crown Archetype as v-p and executive editor on July 29, according to editor-in-chief, Mauro DiPreta, to whom he will report. Anfuso, who left S&S last October after a reorganization within the adult group, held senior editorial positions working for multiple imprints under the S&S umbrella, including the flagship imprint, Summit Books, and, lastly, Free Press.