HarperCollins UK's profits tripled year-on-year in the 12 months to end June 2015, accounts newly filed at Companies House have revealed. Revenues were shown to grow by £6.6m to £186m and profit before tax by £8.9m to £13.1m (£4.2m in 2014). This is the first time these figures have been published as parent company News Corp…
It was reported today that education content maker McGraw-Hill Education is planning to go public. The company best known as a publisher of textbooks and instructional materials, it is reported that the company is investing heavily in developing digital content technology like its “Reading Wonders” and “Economics: Principles and Problems” programs. According to regulatory filings…
FRANKFURT, Aug 31 (Reuters) - German media Group Bertelsmann will consider raising its stake in book publisher Penguin Random House, it said on Monday, now that shares in the joint venture with Pearson could come on the market. Privately held Bertelsmann controls 53 percent of the publisher of bestsellers such as the Fifty Shades series…
In a letter to employees sent August 18th, Perseus Books Group CEO David Steinberger wrote that the publisher and its client publishers achieved the highest number of book sales in the company's history. The lengthy letter delves into each month of Perseus' fiscal year, which ended on June 30th, and highlights some of the major acquisitions and bestsellers that propelled Perseus to record-breaking heights.
News Corp closed out a strong year, according to its latest financial report, and it credits some of that success to growth at HarperCollins. But a deeper look at the numbers, courtesy of The Bookseller’s Lisa Campbell and The Digital Reader’s Nate Hoffelder, reveal that without the acquisition of Harlequin, the Big Five publisher’s revenue…
HMH captured 41% market share for the first half of the year in its domestic education market for K-12 instructional materials.
News Corp. executives are as pumped as the most die-hard Harper Lee fans for the release at midnight of Go Set a Watchman, the reclusive 89-year-old author's long-shrouded sequel to her landmark 1960 breakthrough and only published novel, To Kill a Mockingbird.
The global media conglomerate controlled by Rupert Murdoch owns HarperCollins, Watchman's publisher, which stands to make a good buck from sales of the preternaturally anticipated book.
As News Corp's legacy newspaper division has struggled over the past few years due to the industry-wide decline in print advertising revenues, the company has benefited from smaller segments where growth
Lumen Learning has raised $2.5 million in a seed round led by the Oregon Angel Fund, with the Portland Seed Fund, Seattle's Alliance of Angels, and local investors Ray Henderson, David Mills and Tom Rubin also participating.
Lumen Learning was founded in 2012 by Kim Thanos, an edtech strategist, and David Wiley, an adjunct faculty at Brigham Young University. Thanos says a new textbook and online homework platform for a beginning college-level Algebra course typically costs $150. Lumen Learning currently offers them for $10.
Publishing conglomerates Penguin Random House and Simon & Schuster are facing tough times this quarter as ebook sales fell and total profit dropped 5.6% at S&S and approximately 12% for RPH. The potential culprits? A lack of blockbuster books and low ebook sales. While ebooks sales are still dwarfed by paperback and hardback sales, publishers are now seeing even less revenue from their recently repriced bits. Now that many ebooks are selling well above the $9.99 price that was common early in the Kindle days.
Revenue and profits fell in 2014 at Simon & Schuster, parent company CBS reported. Sales declined 3.8%, to $778 million, while operating profit dropped 5.6%, to $101 million.
The publisher, which saw sales and earnings rise in 2013, closed 2014 on a soft note with sales down 4.4% in the fourth quarter, compared to the final period of 2013, and operating income down 30%.
S&S CEO Carolyn Reidy said 2013 had a number of positive sales surprises--including several Duck Dynasty books and The Great Gatsby--that weren't repeated in 2014.