Led by soaring sales in its consumer group, total revenue at Bloomsbury Publishing jumped 30% in the fiscal year ended February 29, 2024, while profits increased 57%, the U.K.–based company reported. Sales were £343 million (about $436 million at current exchanges rates), and earnings hit £49 million—both records for the publisher
Sales in the consumer group jumped 49%, to £249.2 million. Bloomsbury chief executive Nigel Newton made no secret of what was behind the stellar performance: the increasing demand for fantasy fiction, particularly in the romantasy subcategory, and especially works by Sarah J. Maas, who Newton called "a publishing phenomenon." Her most recent release, Crescent City: House of Flame and Shadow, was the 16th Maas title published by Bloomsbury. Overall sales of her titles soared by 161% in Bloomsbury's most recent fiscal year..
Bloomsbury counts Maas as part of its children's division, and her books helped to drive sales in the group to £191.3 million, a 75% increase over fiscal 2023. Sales in the adult group stayed flat at just under £58 million. Other highlights pointed to in the Bloomsbury release were continuing strong sales for Harry Potter, the success of Ann Patchett’s Tom Lake, renewed interest in Samantha Shannon's The Bone Season—which was published 10 years ago—and two U.S. bestsellers, Johann Hari’s Stolen Focus and Trang Thanh Tran’s She is a Haunting. Digital sales did especially well in fiscal 2024, jumping 77%, to £44.3 million, and accounted for 17.3% of consumer revenue, up from 7% a year ago.
The company's non-consumer division consists of its academic and professional group and special interest activities. Revenue in the division was £93.4 million, down 4% from fiscal 2023. Bloomsbury attributed the decline in part to lower U.S. government support for higher education institutions.
More investment in digital products and continued international expansion remain priorities for Bloomsbury, although the publisher made no significant acquisitions last year. The U.S. remains the company's largest market, accounting for nearly 56% of sales (about $253 million) last year.
Although Bloomsbury has Maas signed for a number of additional books, no new titles are planned for release in the current fiscal year. As a result, the publisher expects sales and earnings to decline. According to the company's financial announcement, Bloomsbury expects sales to be £283.6 million and profits to be £35.4 million, although it said that early business has exceeded its original forecast.
