and more.
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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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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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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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S&S Posts Double-Digit Gains in Sales, Earnings in 2020
Sparked by a strong fourth quarter, Simon & Schuster finished 2020 with both sales and earnings up about 11% over 2019. A slew of adult nonfiction hits helped to drive the gains.
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Revenue at Reed Exhibitions Sank 71% Last Year
The company behind the London Book Fair, the “retired” BookExpo, and other publishing-adjacent events saw revenue plunge by 71% in 2020 compared to 2019. Reed said that, due to the pandemic, it is managing its 2021 event schedule “flexibly.”
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HarperCollins Has Historic Quarter
In the quarter ended December 31, sales rose 23% at HarperCollins over the comparable period a year ago, and earnings soared 65%. Susan Panuccio, CFO of HC parent company News Corp, said the second period results marked the best quarterly performance in HC's history.
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Trade Publishing Sales Had Big November
Helped by the November release of the blockbuster 'A Promised Land,' sales of adult trade titles jumped 35.4% in November over a year ago and sales in the children/young adult category rose 30.7%.
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Foundry Literary's Cofounder Files Suit Against Former Partner
Peter McGuigan, the cofounder of Foundry Literary + Media, filed a lawsuit against his former business partner, Yfat Reiss Gendell, on Friday. The suit claims that Gendell made illegal withdrawals of more than $860,000 from the former partners' literary agency.
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Sales, Earnings Soared at EDC in Q3
Revenue in Educational Development Corp.'s direct sales division jumped 68.4% in the third quarter ended November 30, 2020, leading to a 63.5% increase in total sales for the publisher. Net income rose 63.5% over last year's third quarter.
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Authors Seek Missing Payments from Shuttered Literary Agency
When the former cofounders of Foundry Literary + Media parted ways in September to launch their own literary agencies, the partners confirmed that thousands of contracts would still be handled by Foundry. It appears that payments to some authors with contracts residing at Foundry have not been going out.
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