Harry Potter pushes Bloomsbury profits to 32-year high
By Callum Gunn
UK publisher of Harry Potter, Bloomsbury, has reported highest revenues since the company was founded.
While Scholastic may the publishing rights to the “Harry Potter” novels in the United States, in the UK that honor goes to Bloomsbury—the first publishing company to give J.K. Rowling a shot with the stories about the Boy Who Lived. And it was definitely a good decision by the firm, as continued sales for the novels has helped to push Bloomsbury revenues to a 32-year high.
Revenues took a 13% surge in the last year, partially thanks to the evergreen franchise that is the Boy Wizard. The revenues now sit at £161.5m for the year by the end of February 2018. The profits were up 9% from the last time the profits had hit a high for the company, which was back in 2007 when “Harry Potter and the Deathly Hallows” was published for the first time.
(Photo by Graeme Robertson/Getty Images)
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Various special editions of the novels, the interest in Fantastic Beasts and Where to Find Them scripts, and the Harry Potter and the Cursed Child screenplay have all helped to see the surge in profits. In fact, it’s the latest illustrated version of “Harry Potter and the Prisoner of Azkaban” that has helped to drive the sales this year, becoming the biggest-selling book of the year. This, along with other “Harry Potter” novels and special editions, has also helped to see the children’s division for Bloomsbury grow by 24% in the year.
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The great news for the publishing firm is that interest in the Boy Who Lived hasn’t disappeared. In fact, it continues to grow with non-book products continually bringing in new fans and parents sharing stories with their children. The latest Harry Potter: Hogwarts Mystery game app has taken the world by storm, especially with the use of elements from the original novels.
While the “Harry Potter” novels are not the only reason, they are a big success for Bloomsbury Publishing.
Next: Time limit set on Harry Potter and the Chamber of Secrets House Edition pre-orders
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