and more.
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Digital Audiobook Sales Sank in April
U.S. publishing sales dropped 4% in April at publishers that report results to the Association of American Publishers, as the audiobook boom that had driven industry growth finally cooled off.
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Scholastic Lifts 2025 Financial Forecast, Considers Sale of HQ, Distribution Hubs
The company has raised its profit prediction for the fiscal year ended this May after lowering it at the end of the third quarter, citing “cost management and solid execution” for the revision. It is also exploring a sale of its New York City headquarters and Missouri distribution centers, which it intends to lease back.
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New Report Documents Savings of Inclusive Access
A survey from Student Monitor found that college students using inclusive access programs cut spending on course materials by 4% in the 2024-2025 academic year.
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Wiley Reports Big Jump in Profits in Fiscal 2025
After more than a year of divestitures, restructuring, and write-offs, Wiley posted a huge gain in profits in the fiscal year ended April 30, 2025 despite a drop in sales compared to fiscal 2024. In addition, the company’s AI licensing revenue in the year hit $40 million, up from $23 million.
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New Listeners Boosting Sales for Spotify, Publishers
Audiobook listeners and listening hours on Spotify increased by more than 30% and 35%, respectively, from January 2024 to January 2025 in the U.S., U.K., and Australia, helping to boost audio sales of several major publishers, according to the streaming service.
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Bloomsbury Revenue Up 5% Amid Global Expansion
Bloomsbury Publishing reported revenues of £361 million, or $484.0 million, for the fiscal year ended February 28, along with profits of £42 million, down by £6 million from fiscal year 2024.
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EDC Struggles to Regain Its Financial Footing
Educational Development Corp. cut its debt in the fiscal year ended February 28, 2025, but sales and earnings fell as the publisher and book sales company fights to recover from overexpanding its business during the Covid lockdown.
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With a March Rebound, Publishing Sales Rose 1% in Q1
Sluggish trade sales were offset by big gains in the higher education segment in the first quarter of 2025.
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Another Lackluster Quarter for Webtoon
The webcomics company’s three businesses posted increases over the first quarter of 2024, but higher costs, including expenses associated with becoming a public company, led to a net loss of $22 million.
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Publishing Industry Sales Dipped in February
Total book sales fell 1.9% in February for the 1,325 publishers that report results to the Association of American Publishers’ StatShot program. Sales in the adult trade and children’s/young adult segments were down.
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