HarperCollins revenue up 7% in 2018
In the US, HarperCollins has reported a 23% rise in earnings to US$244 million (A$335m) in the financial year ending 30 June, and a 7% rise in revenue to US$1.76 billion (A$2.34b), up from US$1.64 billion (A$2.25b) in the 2017 financial year, reports Publishers Weekly.
The publisher experienced a record fourth quarter, in which revenue rose to US$490 million (A$673m), up 20% compared to the previous year, and EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose 82% to US$71 million (A$97m). Fourth quarter sales gains were boosted by US$28 million (A$38m) of revenue from a sublicensing agreement with Amazon Studios for J R R Tolkien’s ‘Lord of the Rings’ trilogy, which the studio plans to adapt as a television series.
The annual figures were significantly boosted by sales in general books, including Mark Manson’s The Subtle Art of Not Giving a F*ck (Macmillan) and A J Finn’s The Woman in the Window (HarperCollins), as well as US$25 million (A$34m) from the positive impact of foreign currency fluctuations.
Digital sales increased 6% compared to the previous year, driven by the growth in audio. Ebook and audio digital formats represented 19% of consumer revenue for the year, which is the same percentage reported in the 2017 financial year.
Category: International news