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Big Trade Publishers Have a Good Start to 2021
First quarter financial reports from five major trade publishers showed the sales momentum that built up through 2020 has carried over into this year.
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HarperCollins Profits Soared in Q1
Big gains in digital and backlist sales combined to drive up profits at HarperCollins by 45% in the quarter ended March 31, 2021, while sales rose 19%.
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S&S Gets Solid Start to 2021
Sales and profits rose in the first quarter of 2021 over the comparable period in 2020 at Simon & Schuster, led by double-digit gains in its international and audio divisions.
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Without Trade Unit, Q1 Results Stabilized at HMH
First quarter sales at learning technology company Houghton Mifflin Harcourt fell 3.7% compared to last year's first period, but its bottom line showed improvement. The trade group saw a 12% jump in sales, but those revenues are not included in HMH's official results.
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Another Quarter, Another Sales Record for Amazon
First quarter revenue at Amazon soared 44%, and profits doubled. Online store sales jumped 44%, to $36.6 billion.
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Writers Orgs Form #DisneyMustPay Joint Task Force
Led by the Science Fiction and Fantasy Writers Association, several professional writers' organizations and authors have formed the #DisneyMustPay task force, petitioning Walt Disney Co. to honor author contracts.
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Publishing Industry Sales Up 16% Through February
Higher sales of print and digital books and a decline in returns contributed to a solid net sales increase in the first two months of 2021 over the comparable period in 2020 for publishers that report to AAP.
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Good First Quarter for HBG
Hachette Book Group sales increased 9.1% in the quarter ended March 31, 2021, over last year's comparable quarter. Sales at all of Lagardère Publishing increased 11.6%.
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Book Biz Closes Out an Unexpected 2020
Profits rose at five big trade publishers in an unprecedented year.
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PRH Worldwide Revenue Hit $4.4 Billion in 2020
Driven by strong sales in the U.S. in 2020, revenue at Penguin Random House increased 4.6% over 2019, while profits jumped 23%. The U.S. accounted for 58% of worldwide sales, up from 56% in 2019.
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Bloomsbury Lifts Forecast for Fiscal 2021
Citing continuing strong demand for books in February, Bloomsbury Publishing said it expects sales for the fiscal year ended February 28, 2021, to be above current market expectations and profits to be "significantly" ahead of previous forecasts.
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Quarto Profits Rose in 2020 Despite Sales Decline
The decision to focus its 2020 list on books that could perform well online, in nontraditional outlets, and in digital formats led to a 6% increase in operating profits at Quarto last year, while revenue declined 7%, to $126.9 million.
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Scholastic Book Fairs Have Another Tough Quarter
Sales in Scholastic's book fairs fell 73% in the third quarter compared to a year ago, contributing to a 26% decline in overall revenue.
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Regnery Revenue Fell in 2020
A good fourth quarter was not enough to offset a first half sales slump at Regnery. The publisher has set a 75,000-copy first printing for Josh Hawley's 'The Tyranny of Big Tech,' which will be published on May 4.
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Barnes & Noble Education Sees More Losses in Q3
Sales at Barnes & Noble Education continue to be hit by the pandemic, with sales for the third quarter ended December 31, 2020, down 18.1% compared to the previous year. Retail sales declined 15.1%.
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Pearson Touts Future as Learning Company
Pearson earned £531 million from the sale of its 25% stake in PRH to Bertelsmann last year. Moving forward, chief executive Andy Bird said, "We exist to help everyone achieve their potential through learning."
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Wiley Revenue Rose 3% in Q3
John Wiley's financial performance in the third quarter ended January 31, 2021, was strong enough for the company to raise sales and earnings estimates for the fiscal year ending April 30.
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HBG Sales Up 3.9% in Sluggish Year for Hachette Livre
Revenue at Lagardère's Hachette Livre slipped 0.4% last year, to €2.37 billion, from €2.38 billion in 2019. Earnings, however, rose 11.8%, to €246 million. Sales at Hachette Book Group rose 3.9% over 2019.
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Restructuring, Covid-19 Leads to Huge HMH Loss
Restructuring charges and the global pandemic took a toll on Houghton Mifflin Harcourt in 2020, as the company reported a 25.8% decline in revenue in the year and a net loss of $480 million, compared to a loss of $213.8 million in 2019. HMH's trade division, which is for sale, had a 6% sales gain.
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Trade Publishing Segment Shines in a Flat 2020
Total industry sales rose 0.1% in 2020 compared to 2019 based on year-end figures supplied by 1,354 publishers to AAP’s StatShot program. The two major trade categories had solid gains in the year while the two big educational segments had declines.
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