and more.
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Hachette Book Group, Hachette UK to Move Under United Management Team
Under what it calls a "new English-language management structure," Hachette Livre has named Hachette UK CEO David Shelley head of both Hachette Book Group and HUK, while current HBG CEO Michael Pietsch will retire as CEO and serve as chairman of the new group.
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Sales Remain Sluggish for Big Book Publishers
Three of the Big Five publishers struggled in the first nine months of 2023, according to recent financial results, as the industry coped with sagging sales and rising costs.
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HarperCollins Posts Big Gains in Q1 of Fiscal 2024
Revenue in the quarter ended September 30, 2023, rose 8% over fiscal 2023 at HarperCollins, and profits jumped 67%. Executives at parent company News Corp expect the publisher to show marked improvement over last year.
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S&S Results Drop in Q3, But Jon Karp Is Revved Up About the Future
After a long run of record financial results, sales at Simon & Schuster fell 13%, and operating income dropped 35.5%, in the third quarter ended September 30, 2023. Nonetheless, CEO Jonathan Karp is excited about prospects for both the holiday season and life after Paramount Global.
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Sales Rise, Profits Soar at Amazon
Total sales at Amazon increased 13%, to $143.1 billion, in the third quarter ended September 30, 2023, over the comparable period in 2022, and operating income jumped to $11.2 billion, from $2.5 billion in the third quarter 2022. Online sales rose 7%.
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Strong Trade Publishing Sales Drive Six-Month Gains at Bloomsbury
Sales were up 11% and profits increased 8% in the first half of the U.K.-based publisher's fiscal year. Sales in the U.S. were about $76 million, accounting for 46% of total revenue.
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Manga and Graphic Novels Are Keeping the Comics Biz Kicking
This year's ICv2 Insider Talks celebrated the 50th anniversary of the direct market sales channel, even as it acknowledged graphic novels—and particularly manga—as the primary driver for growth in the comics business today, and by a significant margin.
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Publishing Industry Sales Rebounded in August
Following a July slump, book sales were up 8.5% in August at the 1,233 publishers that supply data to AAP’s StatShot program.
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Hachette Book Group Reports Third Quarter Revenue Dip
CEO Michael Pietsch said the 5.2% decline was attributable to "a lighter publication schedule" compared to the same period last year and "a downward trend" in the overall publishing market.
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Lower Trade Sales, Book Club Reorg Dent Scholastic Results
Lower trade book sales and costs associated with the creation of its new School Reading Events business resulted in an operating loss in the quarter at Scholastic.
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