and more.
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Sales Fall in Q2 as Wiley Lowers Sales Forecast for Year
Sales fell 3% at John Wiley in the second quarter ended October 31, largely due to a 14% revenue decline in its academic and publishing learning group. Trouble in the group prompted the company to lower its revenue forecast for fiscal 2023, though its earnings predictions remained intact.
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Publishing Industry Sales Down 4.5% Through September
Total publishing industry sales fell 4.5% through September compared to 2021, with trade sales down 3.3%, at the 1,368 publishers that report revenue to the AAP’s StatShot program. Lower hardcover sales and higher returns were the main drivers in pushing down trade sales.
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New Report Finds NYC Publishing, Bookselling Jobs Fell Between 2010 and 2020
In a report designed to measure the economic impact of NYC's various publishing segments, the first-of-its-kind study found that the number of book publishing jobs dipped 1.7% between 2010 and 2020, while bookselling jobs tumbled 37.1%. The average book publishing salary was $119,000, compared to a $39,000 wage for booksellers.
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Book Sales Continued to Struggle in August
Book sales fell 9% in August compared to a year ago at the 1,367 publishers who report data to AAP’s StatShot program. All segments had declines in the month, with sales of adult books down 9.3% and sales of children’s/young adult books declining 10.9%.
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Profits, Sales Tumble at HarperCollins
Sales dropped 11% and profits plunged 54% in the quarter ended September 30 at HarperCollins. Much lower sales of print books through Amazon impacted the revenue decline, and higher costs across the board contributed to the profit drop.
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S&S Sales Up 10% in Q3, but Profits Are Flat
Though its third-quarter results slowed compared to the first half of 2022, Simon & Schuster remains on track to have a record year, which CEO Jonathan Karp attributed to employees' ability to stay focused on books despite the company being for sale for more than two years.
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Third Quarter Revenue Rose at Hachette Book Group
Helped by the popularity of Colleen Hoover's 'Verity,' revenue at Hachette Book Group rose 4.7% in the third quarter over 2021—a gain that does not include results from Workman Publishing, which HBG bought last September.
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Hoover Can't Stop Weekly Sales Slide
Blockbuster first-week sales of Colleen Hoover’s 'It Starts with Us' was not enough to prevent unit sales of print books from falling 9.1% last week compared to the week ended October 23, 2021.
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Amazon Sees Slow Growth in Fourth Quarter
Since the summer, many publishers have reported lower orders from Amazon compared to a year ago, and the release of the e-commerce giant’s third-quarter results gave no indication that things will markedly improve in the final period.
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Publishing Sales Fell in July
July was a bad month for publishing, with sales falling 14.9% from a year ago for the 1,368 publishers who report to AAP’s StatShot program.
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