Finance

Skybound Entertainment has launched a massive campaign to raise up to $75 million directly from the public via a Regulation A investment round on the Republic equity crowdfunding platform.

Sales in both the adult and children's/young adult categories fell by double digits in November, due in part to soft hardcover sales.

Educational Development Corp. continues to work through a host of issues since its sales and earnings peaked in the fiscal year ended February 28, 2021.

After two years of surprisingly strong sales during the pandemic, unit sales of print books fell 6.5% in 2022 compared to 2021 at outlets that report to NPD BookScan.

With sales in the adult books and children’s/young adult categories falling 16.4% and 9.9%, respectively, total industry sales dropped 9.3% in October from a year ago for the 1,370 publishers that report results to AAP’s StatShot program.

A 19% increase in Scholastic's children's book publishing and distribution segment drove total sales up 12% in the second quarter, while operating income rose 20%.

Sales fell 3% at John Wiley in the second quarter ended October 31, largely due to a 14% revenue decline in its academic and publishing learning group. Trouble in the group prompted the company to lower its revenue forecast for fiscal 2023, though its earnings predictions remained intact.

Total publishing industry sales fell 4.5% through September compared to 2021, with trade sales down 3.3%, at the 1,368 publishers that report revenue to the AAP’s StatShot program. Lower hardcover sales and higher returns were the main drivers in pushing down trade sales.

In a report designed to measure the economic impact of NYC's various publishing segments, the first-of-its-kind study found that the number of book publishing jobs dipped 1.7% between 2010 and 2020, while bookselling jobs tumbled 37.1%. The average book publishing salary was $119,000, compared to a $39,000 wage for booksellers.

Book sales fell 9% in August compared to a year ago at the 1,367 publishers who report data to AAP’s StatShot program. All segments had declines in the month, with sales of adult books down 9.3% and sales of children’s/young adult books declining 10.9%.