New Report Projects a Decline in Children’s Publishing
According to the Children’s Publishing Market Forecast 2008, a new report released this week by Simba Information, the U.S. children’s and young adult book market is projected to decline by more than 1 percent next year, and increase only slightly in 2009. More than $4.3 billion in net sales is expected next year in this sector.
While several factors are cited to explain the anticipated decline, the report emphasizes the lack of a new “Harry Potter” book in the marketplace. The last installment in the series, “Harry Potter and the Deathly Hallows,” was released this summer and met with record-breaking success. It also increased foot traffic for book retailers nationwide.
“Publishers have trusted ‘Harry Potter’ to bring readers to stores for so long; there’s just going to be a void next summer that’ll be hard to fill,” says Michael Norris, senior analyst, Simba Information Trade Books Group.
Despite the overall projected decrease, certain segments of the children’s market continue to thrive. Fantasy books, for example, continue to lead the sector and show no signs of waning in popularity.